Good Housekeeping Money Matters

June 04, 2017
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Most moms are the ones in charge with money matters at home. It is a saying na maswerte ang mga lalaking makakapag-asawa ng babaeng masinop sa salapi. I am not saying that I am close to perfect when it comes to handling our expenses but I am confident to say that I am learning. Just last year, Paps and I decided to save through Unit Investment Trust Fund (UITF). His bank automatically deducts an ample amount from his account monthly and that money is being invested by the bank and not just being deposited to earn interest. Through this, we feel that we are able to save more and earn not just less than one percent a year. We also availed health insurance to have peace of mind in case that any family member gets sick, we know that everything is getting covered. Just the same, a few years of working as a teacher, Paps decided to save through the cooperative which he can't withdraw his principal savings unless he resigns as a member and annually he receives a dividend aside from getting an interest. 

We are doing all these for our family's future. Despite living on a pay check, we do our best to set aside a few pesos and hopefully more because in the long run, it will benefit us and we will have something to spend when we are not capable of working anymore. But I think, it's not enough. We are looking for other ways to save and we don't know how.

Yesterday morning, it was my chance to learn about more about money matters and the questions in my mind were finally answered. It made me realize that saving alone and UITF weren't enough for us to sustain our finances in the future.  Life is very uncertain and as parents it is our duty to keep our kids and ourselves secured. 

I was privileged to be part of Good Houdekeeping Money Matters held in Cafe 1771 in Ortigas. Together with Insular Life, the Philippines' leading and largest Filipino life insurance company, the talk aims to help modern moms make informed choices about money through learning more about financial literacy, investment, and insurance. This empowers moms to have more ideas on how to gain financial freedom and security.

The talks were led by two knowledgeable financial speakers. Aya Laraya, an investment advocate for more than 25 years of experience in different financial literacy and host of the TV show Pesos and Sense, spoke from his personal experience of improving financial literacy and finding out the best investment for a family.

Insular Life financial advisor and educator Maria Rosanna Sevilla also spoke about the benefits of savings, investments, ans financial literacy, and how insurance can work for moms. 

Here are the key points that should be kept in mind:

- We should not focus on saving in banks alone because we earn low interest through it but rather choose to invest money through a mutual fund or Unit Investment Trust Fund (UITF) where we become part of the company as investors and not as consumers alone.

- Insurance protects us financially in cases of death, sickness, and retirement. We can also secure our kid's future through availing an education plan. If we want to have the home of our own, a plan for the estate is one of the best options. 

Insular Life can be our best partner to secure our future. For 106 years, its integrity and strength are unquestionable. Undeniably, this multi-awarded Filipino owned and managed company is truly trustworthy. If we know our financial goals, click HERE to know how much we should build up towards a better future.

- Never be afraid to avail insurance policies or invest in mutual fund or Unit Investment Trust Fund (UITF). Sa lahat naman ng pagkakataon pwede tayong matalo o manalo. Hindi porke't naloko tayo noon hindi na ba tayo susubok ulit?

- Start now. Kung hindi ngayon, kailan pa? 

In choosing a financial product...

1. Know what you want.

We can't just call a financial advisor and set a meeting with him/her without us knowing where we want to put our money. 

2. Put it in writing.

Investing starts with short term no matter how our life status is. Starting it earlier the better. Changing our behavior is a must for us to do it consistently. 

3. Talk about the budget.
Don't sell the product, sell the behavior. There are many ways to secure our future and invest to earn more but we need to change or improve our perception and habits to achieve financial stability.

4. Shop around for products.
When we buy, we should know what we want and what's important to us. What is applicable to someone may or may not be applicable to us or vice versa. Investment depends on our need or situation.

5. Sign only after reading and understanding the product or ask someone who understands.

6. Keep checking.
We should participate because it's our money that is involved here. We should talk about it with our family members. Our beneficiaries should know about our investments.

Good Housekeeping never fails to bring a wealth of reliable information on motherhood and everything in between. Thanks, Miss Tisha Alvarez and your team, for hosting this event.

Aside from our fruitful learning experience, indulging ourselves with a scrumptious brunch, six attendees were able to win Php100,000 worth of accident insurance policy from Insular Life. Yay! Wonderful!

To learn more about tips and great finds for home and living, Good Housekeeping is available in newsstands, bookstores, and supermarkets nationwide for only Php120. For more vital parenting information and relevant content 24/7, you may follow Good Housekeeping on Facebook via, Instagram via @goodhousekeepingph, and Twitter via @ghphils.

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