Let's Have Some FUNds

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Finances is something young adults have a hard time handling.When you first started working, you want to buy everything you can't buy when you were a student but being an adult means you have bills to pay most especially if you're not living with your parents. Rent,water bill,light bill, cellphone bill and other bills haunt you every month.

Money Under 30 speaker, Mark Bonifacio

Most young adults nowadays live paycheck to paycheck and we need to change that according to Entrepreneur Mark Bonifacio.

9 ways to STOP living from paycheck to paycheck :

1.Create a realistic budget and stick to it.

• List down your expenses. 
• Live below what you earn aka don't be a social climber, if you can't afford it, then don't buy it.
• Have savings at least 10% of what you earn.
• Hve emergency funds.

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2. Find ways to earn more.

• Have part time jobs.
• Have small businesses.
• Try online businesses.

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3. Pay your debts and avoid using your credit card.

• Prioritize debts (interest bearing)
• Avoid using credit card most especially if you can't pay the whole amount.

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4. Examine your bills & subscriptions

• Pay bills on time
• Waive annual fees on credit cards
• Stop subscriptions you don't need.You'll save a lot of money if you shift from postpaid to prepaid.

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5.Stop bad money habits.

• Emotional spending ( I deserve this mantra)
• Lending money to family and friends often.
• Impulse buying. Just because it's on sale but end up not using it. 
• Needs vs Wants. Need = coffee = 3 in 1 coffee mix; Want = Starbucks coffee

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6. Invest in yourself and have a vision of your goals

• Travel. Learning is not limited to school, you can learn a lot of things during travel.
• Read books.
• Have vision board
• Undergo training or additional education.

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7. Take care of your credit score

• Pay on time most especially your credit card.
• Access to capitalization since banks will offer you loan.
• EXCELLENT credit score = LOWER risk to lender = MORE banks will lend you money

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8. Find your mentor

JP Fabian, Sun Life Adviser

• Finding you mentor may not be the richest person in the planet but someone who cares for you and who wants what's best for you.

9.Be prepared for anything

• Life is short and unexpected.

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Don't spend so much money on "wants". Start managing your finances as early as you can. Don't set your salary as your only source of income.



Have a brighter life with Sun Life Insurance. Having clear dreams and life goals will give you a reason to SAVE and INVEST rather than SPEND NEEDLESSLY.



Having clear dreams and life goals will help your sun life adviser choose what't the best insurance plan for you.

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