Category: Business Mirror

THIS here is a familiar story. The salary comes in and, for a moment, there is relief. Bills can be paid, the pantry can be restocked and, maybe, enjoying even a small treat or two. But before the next payday arrives, the money is gone; sometimes disappearing faster than expected.

Why does this keep happening even when we know the basics of personal finance? Why do so many of us feel like we are always catching up, never ahead?

The payday high

THE days right after payday often feel like a celebration. The stress of waiting is over and, finally, there is money to spend. Psychologists call this the ‘payday high,’ a temporary sense of relief that can quickly turn into overspending.

It feels good to buy the things we postponed during the tight days before payday. A meal out, a new gadget, or a flash sale on an app suddenly feels justified. We tell ourselves, ‘I deserve this.’ Some even joke that payday is the one time of the month when they feel ‘rich.’ The problem is, that feeling does not last long. By the time bills, obligations, and savings goals catch up, the budget is already stretched thin.

Why does money slip away so fast

SEVERAL common patterns make this cycle repeat:

Front-loading expenses. Rent, utilities, loan payments, and tuition often fall right after payday. What looks like a full paycheck on day one can shrink dramatically after a few transactions.

Impulse spending. Discounts and sales are everywhere, and marketing is designed to make us buy quickly. Having fresh cash makes it easier to give in to those flash deals.

Family obligations. Many Filipinos feel a strong responsibility to send money to parents or siblings first. While this comes from love and gratitude, it often leaves little for personal savings.

Untracked daily spending. Delivery fees, coffee runs, rideshares, and small ‘add to cart’ buys slowly eat away at what is left. Because they seem harmless in the moment, we only notice the impact when the account balance is nearly empty.

These habits are not just financial issues. They are also behavioral and emotional.

The hidden triggers

RUNNING out of money before payday is not always about income. Even people with higher salaries experience it because of lifestyle creep, social pressure, or stress spending. The truth is, the more we earn, the more tempted we become to increase our spending. Without limits, expenses rise to match income.

Money is also tied to emotions. We spend to celebrate, to relieve stress, or to show love. For many, generosity is expressed through treating family or friends. Cultural expectations add another layer. Saying no to a family request can feel like turning our back on our values. Declining an invitation with friends can feel like rejecting the people we care about. These triggers make it difficult to stretch the budget until the next payday, even when the math seems simple on paper.

How to break the cycle

ESCAPING this cycle does not happen overnight. It takes small, practical steps that address both the numbers and the behaviors behind them.

Pay yourself first. Set aside a portion of your income for savings before paying bills or spending. Even a small amount builds the habit of prioritizing your future.

Automate good habits. Schedule a savings transfer or an investment top-up as soon as you get paid. If money leaves your account immediately, you are less tempted to use it on non-essentials.

Limit variable spending. Allocate a fixed amount for food, transport, or leisure using cash or a separate e-wallet. Having a boundary makes it easier to see where your money is going and stops overspending before it happens.

Track the little things. A few pesos for delivery fees or snacks may not seem much, but over weeks they create holes in the budget. Writing them down or using a simple app helps you see patterns and adjust.

Build a cushion. Even P500 a week in savings creates breathing room and reduces the anxiety of running out before the next paycheck. Small wins build confidence, and confidence builds momentum.

Create a plan for fun. Overspending often comes from feeling deprived. Instead of avoiding all wants, include a ‘fun fund’ in your budget. Having a small, guilt-free allowance helps control bigger splurges later.

Toward financial wellness

THE struggle of running out of money before payday is not about intelligence or effort. It is about habits, triggers, and the way we relate to money. Financial wellness means managing not just the technical side of budgeting, but also the emotional and cultural factors that influence our choices.

When we begin to shift small behaviors, we move closer to balance. And when money becomes less about stress and more about security, we discover that the true goal is not just making it to the next payday, but building peace of mind in between.

Acting Philippine National Police (PNP) chief Lt.. Gen. Jose Melencio Nartatez Jr. has ordered local police units to coordinate with concerned agencies in the conduct of search and rescue missions for all the missing persons as a result of the series of weather disturbances that hit the country last week.

He also said that he understands what it feels to have missing relatives and family members and emphasized the need to show them that the national government, including the PNP, will exhaust all the measures to locate their kin.

‘I have already ordered our territorial forces to assist in the operations to locate those in the missing list,’ Nartatez said.

Based on the latest National Disaster Risk Reduction and Management Council (NDRRMC) situational report, 12 of the missing persons were in Eastern Visayas, two in Oriental Mindoro, and one each in Bicol Region and Western Visayas.

Meanwhile, Nartatez said the PNP remains in full coordination with the NDRRMC and local government units in relation to the post-disaster response in Masbate, the Mindoro provinces and other areas severely affected by ‘Opong.’

He said the coordination includes deployment of personnel and PNP resources needed in relief distribution and rehabilitation programs of affected areas.

Filipino domestic workers in Hong Kong will get a 2.2-percent increase in their monthly allowable wage in the special administrative region of China, according to Department of the Migrant Workers (DMW).

The Hong Kong government decided to raise the monthly salary of foreign domestic workers from HK$4,990 (equivalent to P37,329.64) to HK$5,100 (equivalent to P38,152.64).

The new salary adjustment will apply to employment contracts, which were signed starting September 30, 2025. However, contracts, which were signed under the previous wage level will still be accepted by the Hong Kong Immigration Department until October 27, 2025.

DMW Secretary Hans J. Cacdac lauded the development since it exceeded DMW’s proposed new monthly minimum wage for domestic workers.

‘The wage increase surpasses the Philippines’ US$500 [equivalent to P29,098.75] z minimum wage standard for domestic workers as outlined in DMW Advisory No. 25, Series of 2025,’ he said in a statement.

The new wage adjustment will cover majority of the over 190,000 overseas Filipino workers (OFW) in Hong Kong, who are mostly domestic workers.

DMW said its Migrant Workers Office (MWO) in Hong Kong will assist OFWs in enforcing contracts and reporting any cases of non-compliance.

It said it will continue to push for better benefits for Filipino domestic workers in Hong Kong such as raising their food allowance, which remained at HK$1,236 (equivalent to P9,246.40).

‘The DMW stressed the importance of ongoing discussions to address additional issues, like the unchanged food allowance despite rising living costs,’ the agency said.

The majority owners of Coal Asia Holdings Inc. has signed a share purchase agreement with Pure Energy Holdings Corp. to sell as much as 71.68 percent of the company.

In its disclosure, Coal Asia’s majority stockholders Dexter Y. Tiu, Eric Peter Y. Roxas, Gertim G. Chuahiong, Alexander Y. Tiu, and John L. Capinpin have agreed to sell their ownership to Pure Energy, Pure Water Corp. and Quadwater Corp.

The deal involved some 28.67 billion common shares of Coal Asia. The total transaction value is P220.91 million.

Under the agreement, Pure Energy acquired 4.99 billion common shares, representing 12.48 percent of the company’s issued and outstanding capital stock. Pure Water and Quad each acquired 11.84 billion shares, representing 29.6 percent.

‘The selling shareholders currently expect to finalize this transaction before year-end 2025, subject to the satisfaction of various pre-completion conditions, including, but not limited to, the fulfillment of any mandatory tender offer requirement by the buyers to the shareholders of COAL,’ the company said.

Pure Energy is a holding company, and its first tier subsidiary, Pure Water, together with Quad Water, has an equity participation in Tubig Pilipinas Group Inc.

Pure Water is a unit of Pure Energy, while Quad is not affiliated with either of the two companies.

Pure Energy and Pure Water and Coal Asia have interlocking directors, such as Tiu, Roxas and Chuahiong.

Coal Asia’s shares closed at P0.026 apiece on Monday.

Coal Asia was incorporated on June 11, 2012, primarily to be the holding company of Titan Mining and Energy Corp., a company engaged in the operations of coal mining and energy-related business.

Titan Mining owns coal operating contracts (COC) in Davao Oriental and Zamboanga Sibugay. In 2016, preliminary mine development activities commenced at the Davao Oriental project, although Titan Mining is still awaiting the conversion of the COC from exploration to development and production.

It submitted a five-year work program with a feasibility study for the Zamboanga Sibugay project to the Department of Energy (DOE) in August 2016.

Last January 22, the DOE terminated Titan Mining’s COC No. 166 for failing to submit complete requirements for conversion from exploration to development and production phase, requiring Titan Mining to vacate and restore the contract area.

The company received DOE approval to convert COC No. 159 to development and production phase, subject to obtaining either a certificate of precondition or certificate of non-overlap from the National Commission on Indigenous People.

The Department of Labor and Employment (DOLE) and the Commission on Higher Education (CHED) has recently signed a memorandum of agreement (MOA) to jointly address the persistent mismatch between graduates’ skills and labor market demands.

Labor Secretary Bienvenido E. Laguesma and CHED Chairperson Shirley C. Agrupis formalized the, which seeks to ensure that higher education programs respond more closely to evolving industry needs.

The MOA outlines mechanisms for better labor market information, curriculum alignment with emerging skills, and bolstered youth employment initiatives, including the Government Internship Program (GIP) and the Special Program for Employment of Students (SPES).

Under the agreement, DOLE regional offices will deliver labor market data and career guidance, while CHED will support in raising awareness of employment services and share monthly reports on its own job placement efforts.

The partnership comes as the country faces a sudden spike in joblessness.

In July 2025, data from the Philippine Statistics Authority (PSA) showed that the national unemployment rate climbed to 5.3 percent, or 2.59 million Filipinos without work.

This was 1.6 percentage points higher than the 3.7 percent (or 2.38 million individuals) recorded in the same month last year.

Meanwhile, the number of unemployed Filipinos aged 15 to 24 rose to 1.08 million in July 2025 from 1.02 million a year earlier.

This pushed the youth unemployment rate to 18.1 percent, up from 14.8 percent in July 2024.

The proportion of youth not in education, employment, or training (NEET) also rose to 15.9 percent from 13.9 percent, while labor force participation among young people dropped to 29.5 percent from 34.2 percent year-on-year.

DOLE Undersecretary Carmela I. Torres said the agreement with CHED is meant to directly confront the country’s employment challenges by aligning education with labor market needs.

‘This partnership turns the policy goals initiated by the President into concrete actions for stronger employment and workforce readiness with the adverse effects of climate change, rapid technological developments, and the persistent challenges posed by job skills mismatches,’ Torres said.

JUSTICE Secretary Jesus Crispin Remulla yesterday said the Department of Justice will seek the cancellation of the passport of former Philippine Charity Sweepstakes Office (PCSO) general manager Royina Garma following the issuance of an arrest warrant against in relation to the killing of PCSO board secretary Wesley Barayuga in 2020.

At a press briefing, Remulla also said he would be meeting with National Bureau of Investigation (NBI) Director Jaime Santiago on the possibility of requesting a red notice from the Interpol to hasten Garma’s return to the country.

He said Garma and her co-accused will be considered as fugitives if they will not surrender to authorities despite the issuance of the arrest warrant against them.

‘Well, if you don’t surrender, that’s what will happen,’ Remulla said when asked if the respondents can now be considered as fugitives.

The DOJ chief added that the Philippine National Police (ONP) and the Department of Interior and Local Government (DILG) should already implement the arrest warrant against the accused.

Remulla also the DOJ will file a petition for the cancellation of Garma’s passport to force her to return to the country.

However, Remulla said Garma would likely return to the country since she has no other place to go following her deportation from the US.

‘I think she will come home, she has no nowhere else to go. She was refused asylum already in the US’ Remulla said.

It can be recalled that Garma was allowed to leave for Malaysia a day after returning to the country from Los Angeles, California, last September 6 following the denial of her application for political asylum.

Garma left as a tourist for Kuala Lumpur, Malaysia, according to the Bureau of Immigration, on September 7.

Garma was allowed to leave the country after the BI was able to verify that there was no hold departure order (HDO) or warrant of arrest issued against her.

Remulla later on disclosed that Garma has agreed to testify for the prosecution in connection with the crimes against humanity filed in the International Criminal Court against former President Rodrigo Duterte for his bloody anti-illegal drug war.

The DOJ secretary said that the denial of Garma’s bid for political asylum in the United States prompted her to agree to become one of the ICC prosecution’s witnesses against Duterte.

Remulla pointed to former senator Antonio Trillanes IV as the one who facilitated Garma’s inclusion as a prosecution witness against Duterte, who is currently detained at the ICC headquarters in The Hague, the Netherlands, awaiting proceedings in connection with his case.

He said Garma left for Malaysia to meet with ICC representatives to prepare for her testimony in Duterte’s crimes against humanity case.

Aside from Garma, the arrest warrant issued by the Mandaluyong Regional Trial Court (RTC) Branch 279 also covers former National Police Commission (NAPOLCOM) commissioner Edilberto Leonardo, and police officials Jeremy Causapin, Santie Mendoza, and Nelson Mariano,

They are facing trial for murder and frustrated murder charges.

Barayuga was gunned down by a motorcycle-riding man shortly while on his way home from the PCSO central office in Mandaluyong City on July 30, 2020.

His driver survived the incident, thus filing of frustrated murder complaint against the respondents.

THE Bureau of Customs (BOC) has seized P34.725 billion worth of various goods, natural resources, cigarettes and illegal drugs smuggled into the country as of end-August.

In his presentation of the BOC’s accomplishment report on Tuesday, Customs Assistant Commissioner Vincent Philip C. Maronilla said the bureau carried out 653 seizure operations from January to August this year, confiscating P34.725 billion worth of illicit items.

Confiscated various goods, such as general merchandise, topped the list of the highest-valued commodities, totaling P20.156 billion as of end-August.

This was followed by wildlife and natural resources amounting to P4.784 billion and illegal drugs valued at P4.562 billion.

The BOC also intercepted smuggled cigarettes, tobacco, e-cigarettes and vape products worth P2.104 billion.

Counterfeit goods, such as fake branded apparel and accessories, pegged at P1.041 billion, were also apprehended.

Maronilla also reported the BOC’s ‘record-breaking’ seizures during the month of July to August, conducting 128 seizure operations of smuggled products amounting to P2.390 billion.

The seizure of illicit cigarettes valued at P605.29 million in Plaridel, Bulacan, on August 2 was highlighted, which marked the largest cigarette seizure for this year.

According to the Department of Finance, the government could suffer a revenue loss of about P150 billion this year due to smuggling.

This estimated figure refers to potential revenue losses on the part of the BOC, covering foregone collections from general merchandise and oil.

Maronilla told BusinessMirror earlier that the BOC is strengthening its anti-smuggling measures to offset possible losses from illicit trade.

Maronilla said a new team at the BOC has already come up with a comprehensive anti-smuggling program focused on possible misdeclarations and technical smuggling.

The BOC is also working on revising a cooperation agreement with the Philippine Coast Guard and the Philippine Navy to effectively guard the country’s borders against smugglers.

To further plug expected losses, Maronilla said the BOC is also banking on its Fuel Marking Program as one of the agency’s main revenue drivers, as well as other revenue sources, such as cars, steel and chemicals.

The BOC has collected a total of P622.468 billion from January to August this year, higher by 1.3 percent than the P614.395 billion raised during the same period last year.

In the first seven months, the BOC collected P1.520 billion from non-traditional revenue sources through the Post Clearance Audit Group and P43.267 million from Public Auctions.

This year, the BOC will collect P958.7 billion, which makes up 21.20 percent of the government’s full-year revenue target of P4.520 trillion.

JUSTICE Secretary Jesus Crispin Remulla on Tuesday debunked accusations that former House Speaker Martin Romualdez is being shielded by the government from the ongoing investigation into the multibillion corruption in flood control projects.

At a press briefing, Remulla stressed that the Justice department is now looking into the possible culpabilities of Romualdez over questionable budget insertions and kickbacks from flood control projects.

‘We are already studying everything, liability-wise because [resigned Ako Bicol Party-list Representative] Zaldy Co, as the chairman of appropriations, is well-known as the Speaker’s choice. We all know that.He’s the one the Speaker trusted, and he was the one placed there,’ Remulla explained.

‘So, even from the start, you already know that something was not right with what’s now coming to light,’ he added.

Remulla made the statement after Senator Francis ‘Chiz’ Escudero accused Romualdez of providing the script to implicate senators in the flood-control project anomalies in order to divert the public’s outrage away from him.

The DOJ secretary assured the public that no one will be spared from its ongoing investigation.

‘We’re not protecting anyone here. This is really for the country. There is nothing personal here. This is beyond friendships. It’s beyond school connections or fraternal ties. It’s already beyond all that because what’s at stake here is the Filipino people-our country is what’s at stake. ‘We cannot allow this to be neglected,’ Remulla stressed.

‘He is among those we are seriously looking into as someone who may have liability here,’ he added, referring to Romualdez.

Building on the higher volumes of milk and meat collected in the last five years, the Philippines is now aiming to scale up its carabao population to boost rural incomes, according to the Department of Agriculture-Philippine Carabao Center (DA-PCC).

DA-PCC said this in a statement on Tuesday after it revealed that the government national program on genetically improving the Philippine carabao has made ‘headway’ as it recorded 145,181 genetically improved calves in the last five years.

This represents a 31.1 percent increase from 2019 to 2024 and translates to an estimated 12 million kilograms of milk and 114,380 jobs supported by the carabao supply chain.

The attached agency of the country’s Agriculture department said 90 percent of these calves are meant for milk and meat purposes while the remaining 10 percent is for draft power.

In the recent year alone, the DA-PCC said 36,618 superior-breed calves were produced out of the organized crossbreeding program.

‘Building on these gains, the program now aims to scale up the adoption of genetically superior carabaos across the DA-PCC network of service areas,’ the attached agency of DA said in its statement.

Liza G. Battad, Executive Director III of DA-PCC, explained that the ‘accelerated shift toward a more productive carabao population is expected to strengthen farmer cooperatives due to higher volumes of milk and meat handled collectively, enhance market linkages, significantly increase farmers’ incomes, and improve household nutrition through greater milk availability.’

DA-PCC said the carabao topped the list of the national dairy animal inventory, with 82,908 carabaos, followed by goats with 36,022, and cattle with 35,322.

‘With 99 percent of the carabao population owned by smallholder farmers, efforts to improve its productivity directly translate to better incomes and livelihoods for rural households,’ the attached agency of DA noted.

This ‘buildup,’ DA-PCC said, supports the livelihood of 227 assisted cooperative-led enterprises, comprising some 14,000 cooperative members and their families.

The DA-PCC also note the ‘steady increase’ in price per liter of raw carabao’s milk signals the ‘economic viability’ and competitiveness of the industry, underscoring the importance and timeliness of these advancements for the industry.

‘From P63.27 in 2020, a liter of raw carabao milk is now at P84.87,’ the attached agency of DA noted.

To match the increase in production, the DA-PCC assisted cooperatives are ‘actively’ supplying toned pasteurized milk for the national School-based Feeding Program (SBFP) of the Department of Education (DepEd) and Supplementary Feeding Program (SFP) of the Department of Social Welfare and Development (DSWD).

‘This market channel alone has generated for these cooperatives P2.4 billion from 2019 to 2024 for the SBFP and P504 million from 2020 to 2024 for the SFP,’ DA-PCC said.

Under the Sagip Saka Act or Republic Act No. 11321, community-based organizations such as the assisted carabao cooperatives of the DA-PCC are prioritized as suppliers under the guided procurement.

DA-PCC also noted that other market development interventions are now underway, including the establishment of 80 Dairy Boxes nationwide, 18 of which are positioned as Kadiwa ng Pangulo Dairy Box.

The Dairy Box is a business model by DA-PCC developed to absorb the produce of carabao dairy cooperatives.

The Milka Krem, an advocacy dairy outlet and café managed by the DA-PCC, showcases quality carabao milk and carabao-based products, serving as another market support for dairy farmers.

The Department of Tourism-accredited outlet can be found in Science City of Muñoz in Nueva Ecija and at the University of the Philippines in Los Baños Laguna.

Meanwhile, DA-PCC said there is also a ‘significant’ growing appreciation of carabao meat and consistent increase in meat production with 76,046 metric tons in 2024 from 70,572 in 2020.

‘The demand for carabao meat has also influenced the prevailing liveweight price per kilogram at P164.61 from P110.28 in 2020,’ the attached agency of DA also noted.

DA-PCC said another ’emerging subsector’ alongside the dairy sector is the leather production industry, which taps into carabao by-products and creates additional income streams for farmers.

‘This Cara Cuero brand, a market development initiative by the DA-PCC at Central Luzon State University, seeks to enhance the value of carabao hide by creating high-quality leather products, positioning them in the high-end,’ it also noted.