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Sun Life Philippines Launches Three Digital Financial Literacy Initiatives

Sun Life Philippines

Boosting its efforts to make financial literacy accessible to Filipinos, Sun Life Philippines offers three free online resources to help many learn and plan for their future. Together, they provide a three-step push for individuals and families towards achieving their dreams: attend the Brighter Life Institute, begin their journey with the My Future Fund Calculator, and connect with the #SINAG online journalism contest.

“Nowadays, Filipinos are more empowered in taking charge of their finances. They are turning to online resources to help them understand financial concepts and manage their money. Given our expertise and experience, we want to be their go-to partner as they progress in their financial journey,” declared Sun Life of Canada (Philippines), Inc. Chief Marketing Officer Mylene Lopa.

Sun Life Philippines: Attend the Brighter Life Institute

Open for enrollment since 2014, the award-winning Brighter Life Institute or BLI is an organized learning program inspired by MOOCs (massive online open courses). For this year, BLI rolls out the Moving Up module – a set of lessons which aim to teach families basic financial planning practices and the value of honest conversations about money, even to one’s children.

The Moving Up module takes its cue from Sun Life’s ‘Money For Life’ philosophy, which shows a holistic journey through four different life stages. With lessons spanning from creating a household budget to preparing for future milestones such as a college education, BLI’s latest offering can now be accessed via http://brighterlife.com.ph/bli-moving-up/.

Sun Life Philippines: Begin your journey with the My Future Fund Calculator

For a glimpse of how an insurance-with-savings product can help in reaching one’s dreams on time, the My Future Fund Calculator is available via bit.ly/myfuturecalculator. Just set a target date, choose a My Future Fund nearest the target date, and pair it with a suitable Sun Life variable life insurance product.

My Future Fund is perfect for families who are preparing for a specific purpose, like a college education or owning their own home.

Sun Life Philippines

What’s more, users of the My Future Calculator can get a chance to win P25,000 cash when they share it on Facebook and subscribe to Brighter Life Institute through the Plan 4 Your Fam, Win a Future Fund promo. Full mechanics here.

Sun Life Philippines: Connect with #SINAG Online Journalism Contest

Now on its fourth year, #SINAG invites Filipino bloggers and online journalists to be part of Sun Life’s financial literacy advocacy by sharing and posting about their insights and experiences on money management.

Sun Life Philippines

From securing their future to learning about financial instruments, #SINAG is a valuable compilation of life stories and advice from writers who also believe in the benefit of being financially prepared.

Interested writers can send a link of their entry to editor@brighterlife.com.ph. Full contest mechanics can be found here. Clueless on where to start? The Brighter Life Institute and the My Future Fund Calculator are good jump-off points to select a #SINAG-worthy entry.

For updates on Brighter Life Institute, My Future Fund Calculator, and #SINAG, follow us on social media via @sunlifeph.

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Check out other events.

 

 

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Event

Financial Management: Start A New Journey + Doable Tips

Financial Management

It’s been a couple of months since I left my regular office work and took a huge leap of faith in pursuing blogging as of today. I am not speaking for the end of itself, but I am speaking as someone who had some transition especially on my finances. I lost over 60% of my usual income a month since then. Financial management became a top list topic by that time til now.

For over two and a half years at my office work, I never had that sense of savings in my hand even when I tried (*smirk). Although, I am not saying I am spending on worthless things at all. I spent my salary commonly on my payments, dental and aesthetic maintenance, food, some stuff that I am really happy having them now and of  course, the first on the list, tithing. Basically, I was living just enough for everything financially and working just to make a living. Now, what happened when I got a cut down on my income and my aspirations on financial management?

Financial Management: A Turnaround

A couple months now, I am earning just about 40% of my previous salary. It’s not easy, I must say. Living a lifestyle of buying what you need and now thinking everytime you have to buy, “do I need this as of the moment?” This season of my life is developing some self-awareness as to how and where I invest my resources. I bet, you will also when you know that you just have a little compared to what you used to have. Right?

But having limited resources should not limit you from buying what is essential. When you buy something and you are dead sure that it is essential for the time being, think about this.

The price of a commodity will never go to zero. When you invest in commodities futures, you are not buying a piece of paper that says you own an intangible of company that can go bankrupt.” – Jim Rogers

Financial Management

Sometime in the future, we will value what we have bought now because we know and realize that the price of commodities will never go to zero, instead they go higher. As of now, when I buy something, I am pretty sure it won’t cost the same years, even months from now. If it’s essential, I go for it!

Financial Management: Savings, Not Sacrifice

When I look back from today, I am seeing different goals I have set along the way. I followed through and monitored my new goals and reassess them now. I realized that to save is not a total sacrifice. I enjoy eating the food I want, buy things I need, and go where I want to go now as I would before exiting my office job. Plus, I can meet new people and live the reality and the beauty of life and community.

To save is not a sacrifice but a matter of financial management. Thinking about my rat race a couple of months because I thought I won’t have enough for the day, God was actually teaching me, step by step, on managing the resources He blessed me with.  As I have said, I developed new goals and align my budget on them, monitor them and reassess the whole thing. At the end of it all, I had an extra untouched money. It all started from saving a little every day. The loss of 60% of my previous salary is not that painful anymore when I began to start a fresh and start it right.

financial management enjoy life

 

Financial Management: Enjoy Life Now, Still Save For Later

So, does it feel like you are reading your own story in my experience? I started my own journey in managing a bit of my finances in my little efforts. Over time, when you are hitting your goals and monitor their progress, you will begin to see the picture of a better life. The quality of life will improve. After all, that is the ultimate goal, right?

Become your own storyteller and blogger!
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Before I let you go, here are some tips you can take home to help you thrive every day!

4 Major Tips To Survive The Journey of Financial Management

Develop Different Sources of Income

Most of us, especially the younger gens “millennials”, is programmed and cultured to have one full-time job and that’s enough! That’s not a totally bad idea. However, it can be better to have at least two sources of income. The cash flow would be smoother.

With the type of your current work, if you can, you can additionally play along different freelance or part-time works to add up to your inflow money. That could be very challenging. Hey, I am there and still progressing today. And that’s a whole lot lesson to learn on time management skills

Afterall, if you want to have one source of income and you want to focus there, make sure you have enough that you are able to set aside a portion into your savings. While there is an actual flood of freelance opportunities for you depending on your skills and network.

Avoid Working in the Hassle of Metro City

A metro city commonly hosts several and some of the largest companies in the country coming from the capital. This fact makes it even more attractive for anyone to want a job in it. I’m not exempted.

Well, while its beauty can’t be covered, so is the ugly truth in it. Having the bustle and all, the cost of living and working in a metro city, Metro Manila, is higher compared to a city from the province. Consider the lifestyle, can you save or is it just enough to buy your basic needs? Remember, to save means to support your essentials in the present while you can keep a portion for the future. How is your travel time from home to work? Is it taking you hours? Take note, time is the most expensive currency every working individual has. Don’t waste it.

Unless you need to work in the metro city, consider finding a job closer to your home so that you can really save from your salary.

Create a Monthly Budget and Track Daily Expenses

According to the research report conducted by Head Solutions Group on behalf of TD Ameritrade Holding Corporation in 2016, nine (9) out of ten (10) millennials overspend, under save or take additional debt at least one month per year. That’s a lot considering its respondents were from the west! Imagine if the people who participated in the survey are from us who are suffering badly from economic collapse domestically or within the household.

However, budgeting is not easy as it may sound. To start, we need to really have a historical data on our daily expenses and we can approximately estimate a monthly budget from there. As for me, I am trying to take note of my daily spending essentially to come up with an effective budget plan. Make a list of what to buy monthly or periodically; this will also save you time and energy.

Sure, it’s very challenging and crazily difficult. But as you do it every day, it will just be as normal as you breathe in and out. You will become more motivated when you are seeing the money you are saving daily adding up.

Connect with Respected People in the Field of Financial Management and Literacy

Have the people around you and get the right voice to listen to. We may not be able to befriend all financial management and literacy gurus in the country but most of them have active blogs and social media pages. You can start by following their story and their life lessons. We emulate their process and learnings as we duplicate their financial success!

Financial Management: Start Now!

What are you waiting for? Start your own story of financial success and inspire more people to achieve financial independence. Start a little but start it right! I will leave you this very truthful quote from Albert Einstein.

“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

You will never know where your little coins or couple of peso bills can take you. So treasure them and keep them in your savings. You will definitely get a compound interest when you know how to invest every single one of them!

The transition and the new field I am venturing into will go a long way still, I know! Let’s see each other along my journey! Start your little steps now towards financial stability and independence in the future!

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Check out other events in this blog!

 

Related posts
Saving Money: 4 Disciplines For A Savvy Millennial
November 10, 2017
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Sun Life Philippines Launches Three Digital Financial Literacy Initiatives
October 30, 2017
Event

Sun Life Financial: Iloilo How To #LiveBrighter 2017

Sun Life Financial #LiveBrighter Featured Image

Last Saturday, October 14, Sun Life Financial-Philippines held its #LiveBrighter Forum at Seda Atria, Mandurriao, Iloilo City to share their passion and mission on helping Filipinos become financially independent. The event is saturated with financial literacy and freedom. Their advocacy is not just to sell policies but definitely to help every Filipino in managing financial resources and planning out investments suitable to one’s personal lifestyle.

Sun Life Live Brighter Forum

Sun Life Financial in Four (4) Sentences

Sun Life Financial already had more than a century. In 1895, the company introduced life insurance in the Philippines. They survived two world wars and countless economic crises proving their resilience and prudence in the industry. This makes the Sun Life Financial-Philippines (SLFP) not only the first but also the longest-standing life insurance company in the country.

Sun Life Live Brighter Forum

Sun Life #LiveBrighter: Savings does not entail a Sacrifice but rather a Management

This is the first arrow that hit me during the forum. Part of this advocacy is to educate people about money matters and eradicate misconception on saving. Most Filipino when asked about their opinion in savings, their initial reaction is that they will have to give up some parts of their motivation in life.

Sun Life Live Brighter Forum

But as discussed by Sun Life Regional Sales Manager and forum speaker, Valerie Lagarde, you don’t have to sacrifice what motivates you like eating good food, traveling to places, buying useful stuff. You just have to manage them all especially your finances. Plan out ahead. Weigh everything on where to invest. Prioritize what is essential but take note what is on your leisure list. You can enjoy and save at once.

Sun Life #LiveBrighter: Get in the business of helping people

The next arrow that hit my senses is helping people can be a business. The difference with just a business that only earns to a business that helps individuals to better their lives is passion. This is what embodies Churchill Bejemino, a Sun Life Advisor with a transformed life. His passion is to really help people understand the value of a good investment, financial planning, and management. He advocates especially to millennials the value of investing even just a little amount for the future. Let’s not be driven only by what the present shows us. But let’s manage our present to achieve what the brighter future is showing us.

Sun Life Live Brighter Forum

Sun Life #LiveBrighter: Bank Versus Insurance for Millennials

When asked about millennials’ take on where to put their money (bank or insurance), a simple yet very substantiated answer struck me. This is the last arrow that hit my mind. Know the different types of investment and determine the purpose of each, said Mike Gustillo. Basically, between the two, bank and insurance, the difference is the length of terms. Bank can be part of your short-term investment suitable for your daily, weekly or monthly needs because you can easily access the amount. However, if you are looking into long-term investment, you can choose insurance plan which will yield larger amount couple of years from now.

Sun Life Live Brighter Forum

Also, during the forum, they gave everyone a chance to become their family as Sun Life Advisor. Here are quick information on this.

5 Steps to #LiveBrighter as Sun Life Advisor

  1. Join a #LiveBrighter Forum
  2. Attend the interviews/take the POP(Personality Orientation Profile) Screen Test
  3. Take the Licensing Exam at the Insurance Commission
  4. Finish the Sun Life Training Course
  5. Complete the contracting and coding process

Benefits of Being a Sun Life Advisor:

  • It is rewarding in compensation and generous in time. As a Sun Life Advisor, your earning potential is limitless and you can also enjoy the flexibility of time.
  • It allows you to see the world. A job well done is rewarded with a trip to exotic continents and exciting destinations.
  • It’s a noble and fulfilling profession. You can make a positive difference in the lives of others by helping them fulfill their financial goals.
  • Sun Life is a professional agency with a bright legacy. You can shine your brightest because you are with a good company. Sun Life is the number one and the longest-standing life insurance company in the Philippines.

Sun Life Live Brighter Forum

In the end, what matters is the length of support Sun Life can give us being a financial advisor. I want to end this with a snippet of a successful Sun Lifer. #LiveBrighter in your future!

“I have trusted Sun Life for over 20 years. I’m glad they’re still with me as I enter this new phase in my life.” – Charo Santos – Concio, Policy Holder since 1992.

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Follow Sun Life Financial-Philippines at Facebook, Twitter and Instagram (@SunLifePH) and check out their web: http://sunlife.com.ph/

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