Millennials are known for their you-only-live-once (YOLO) mentality especially when it comes to splurging money to things they don’t really need. The most common results, unfortunately, are a bleak future littered with a lot of debts.
How can millennials be financially prepared for the future and embrace a brighter life for themselves and their loved ones?
Sun Life Financial Philippines embarked on a financial literacy trip around the country by hosting an event entitled ‘Let’s Have Some Funds’ which specifically targets millennials.
The campaign aims to help millennials set financial goals now, so that they will eventually reap financial freedom and a brighter life ahead.
In its Iloilo leg held at Dova Brunch Cafe, Sun Life brought in Ilongga entrepreneur and online influencer Katrina Loring to share about her experiences in starting businesses as a millennial in a talk entitled Money Under 30.
She focused on taking advantage of investment opportunities and gave out pointers on how to avoid money mistakes such as zero savings, over spending, and credit abuse.
“The art is not in making money, but in keeping it,” Loring said, and explained that it meant paying your debts, paying bill on time, planning your budget, recording your expenses, making savings automatic, and preparing for rainy days and dreams.
Mr. Michael Gustilo, Visayas Regional Sales Manager of Sun Life Financial, discussed next the theme FUNding Your Life Goals.
“Having clear dreams and life goals will give you a compelling reason to save and invest rather than spend needlessly,” he said.
Millenials who have sound financial goals will be spared from ‘money regrets’ such as excessive spending on wants, starting late on financial management and being dependent on salary as the only source of income.
“What has helped me early on, before I joined Sun Life, is an advise from a friend who is a Sun Life Financial Advisor,” Gustilo revealed. “She said: ‘Sit down, evaluate your finances and spending habits, and identify opportunities or tools that will help you maximize for a bigger goal in the future.'”
It helped him get out of the money rut and be wise on handling finances. “That’s why you need to talk to a Sun Life Financial Advisor,” he added.
Gustilo assured that Financial Advisors won’t just sell you insurance policies; instead they are professionals who are trained to give financial advices and make financial planning based one’s circumstances.
He also introduced Sun Life Financial’s wide spectrum of products that include Life Insurance, Accidental Insurance, and Mutual Funds.
Yes, one can invest in their mutual funds for a very low initial deposit of P5,000.
About Sun Life Financial
Sun Life Financial Inc. (“SLF Inc.”) is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2017, Sun Life Financial had total assets under management (“AUM”) of $975 billion.
Sun Life Financial is the no. 1 insurance company in the Philippines for 7 straight years, serving Filipinos for over 123 years now. For more information, please visit www.sunlife.com.