On planning and managing expenses toward financial independence
When I was in third year of high school my father started getting
sick. I saw how my mother struggled with our family budget as portion of my
father’s salary went to his medications. There were times we really have to
make both ends meet but my mother has become a pro in budgeting and managing
our household expenses.
It was also during that time that I started accepting term papers
work from my classmates so that I won’t ask for my school allowance anymore. I
did that until I graduated from Highschool and it was during that time I
realized how important managing your expenses was as I budget my allowance so
that I do not add to our household burden. Thankfully my father recovered and
the years after that were financially good.
But somehow during my twenties when I started working and earning,
and become financially independent from my parents, I forgot how to manage my
expenses as I began tarvelling and spending on things which I now realized is a
waste of money. It’s a good thing I caught on early and I matured financially.
I’m sure many of us have been in this quandary before and some
still suffering from mismanagement of expenses. And as listened to Mr. Aya
Laraya during his Planning and Management Workshop at the Brighter Life
Institute, he said that all is not lost as we can begin again in planning and
managing our expenses.
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| Photo Grab: Lariza |
Start little by listing your daily expenses. Where your money
goes, how much did you spend? Then start to budget. You can only do so if you
know where your money is going.
As you go on with your life, you can start to plan and think about
other things. As you grow older you will encounter added expenses such as food,
education, insurance and other living expenses. What about retirement? You need
to plan it well also. You need to think about investment during these times
too. Investment need not involve large amount. Sunlife Phils can offer you
investment for as low as 5 thousand pesos and the payback is good. And although I don’t want to be morbid here, you also have to
think of funeral expenses.
These are the things we need to plan and manage as we go on with
our life. Shouldn’t you live your life well, especially as you grow older?
To know more about
investments from Sunlife, visit www.sunlife.com.ph or inquire and talk to a Finacial
Advisor at 5558888.
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