Juggling work and your responsibilities at home are always tricky. They both demand the same amount of attention and commitment from you. So how do you deal? We asked career consultant Malou
Q: "I was on maternity leave, but my boss kept asking me to do work-related tasks from home. I still did them since I was afraid to lose my job, but I was wondering about remuneration—can I ask for compensation beyond the paid maternity leave (which, technically, I didn't get to enjoy because I was working)?"
Q: “I’m being offered an early retirement package by my company, but I don’t want to stop working yet. I feel like they’re offering this to me because they don’t need my services anymore. Should I accept their offer?”
Q: "I'm thinking of getting a housing loan to help out with our house payments. What terms should I look for?"
Francisco J. Colayco: From your question, I understand that you already have a housing loan, which you want to increase. Loan terms are related to the loan amount, the number of years, and the interest rate. How much can you afford to pay for the house amortization every month? Once you've determined this, you can work backward and compute the loan you can afford. You need to make an assumption on the interest rate, and this will depend on the institution where you borrowed money. Usually, the lowest rates are loans from PAG-IBIG Fund, ranging from six to 10 percent per annum.
Since you already have an existing housing loan, you need to check with your present loan provider if they can increase your loan, based on the current value of your residential property serving as collateral for your present loan. If not, you could offer other assets as additional collateral. If your current lender is still not agreeable to increasing your loan, you may be able to find a new lender to replace your existing creditor. Other financial institutions may have different loan policies, which may get you a higher loan amount that your existing loan.
The above originally appeared in the July 2015 and August 2015 issues of Good Housekeeping Philippines magazine, the October issue of Smart Parenting magazine, and Smartparenting.com.ph.
Minor edits have been made by FemaleNetwork.com editors.