• Elite Advisor Development Program
  • Income Calculator
  • FAQ
  • Contact Us
  • Resources
  • Locate Us
  • Home
  • Join Us Now
  • Change Stories
    Right Arrow
    • Elite Advisor Development Program
    • Income Calculator
  • Partner with the Best
  • Be The Best You
  • Build a Rewarding Business
  • Inspiring Stories
  • Track Your Application
  • Help & Support
    Right Arrow
    • FAQ
    • Contact Us
    • Resources
    • Locate Us
  • Upcoming Events
  • AIA.COM.PH
Terms of Use Privacy Statement Cookie Policy

Welcome

|

Logout

Login to iRECRUIT

Welcome

Hello there! Login and start managing.

Forget Password / Unlock ID

LOGOUT

Terms of Use Privacy Statement Cookie Policy
AIA
Back
Login Login
Back to Top
9 Tips For Achieving Your (Finance) Goals

9 TIPS FOR ACHIEVING YOUR (FINANCE) GOALS


copylink
Email
Facebook
Twitter
LinkedIn

Sometimes, it’s not enough that you work hard. Make your savings work for you.

Consequently, it’s best to find a career that will reap better rewards for your hard work (and help you achieve your financial goals).

It’s easy to fall prey to get-rich-quick schemes, especially when you feel your hard work isn’t getting you anywhere near your financial goals. But chances are, if it sounds too good to be true, it probably is. Learn how you can get the most out of your hard-earned money from a AIA Philippines Insurance Entrepreneur, Edna Liz Medalla-Damaso.

Edna had worked in the banking industry for over 16 years before deciding to leave her high-paying corporate job for good. She joined AIA Philippines in 2016 to jumpstart her entrepreneurial journey and be in the business of helping people through financial planning.

Edna Damaso

Edna, now heading into her fourth year at AIA Philippines, gained a lot from it, and has often shared to her valued clients’ different strategies to make their money work harder for them, and ultimately help them achieve their financial goals:

  1. S.M.A.R.T. goals.

    Make sure your goals are specific, measurable, attainable, realistic, and timebound. “Give yourself goals to reach for each stage of your life—20s, 30s, 40s, 50s, 60s, retirement. Our needs change over time, and we must take note of them at regular intervals to make sure we are on the right path,” says Edna.

    Take, for instance, Edna herself. After 16 years of working in the bank, she re-evaluated her goals, and eventually decided to prioritize work-life balance. She entered AIA Philippines with this in mind, and is now able to work at her own pace while achieving her SMART goals.

  2. Save before spending.

    “Save at least 20%of your income,” says Edna, in reference to the 50/30/20 budget rule of spending 50% on needs, 30% on discretionary items, while allocating 20% on savings. Instead of letting your savings sit idle, consider setting aside money for insurance to give your family the utmost protection for them and their future.

  3. Focus on your needs, not your wants.

    Never engage in impulsive buying or shopping for unnecessary wants. Discipline is key to achieving your financial goals. What most people don’t realize is that financial protection from critical illnesses should be a top priority. If you don’t have a policy with critical illness coverage, a prolonged hospital stay can wipe out your entire life savings—even if you have health insurance.

  4. Keep track of your expenses.

    Don't spend more than what you earn. By monitoring your expenses, you can easily eliminate unnecessary expenses. Living beyond your means is the quickest way to financial ruin, especially with credit cards, which often come with high interest rates if you can’t afford to pay your bills on time.

  5. Invest, invest, invest.

    “The best time to invest is yesterday,” Edna points out. Once you’ve taken care of your basic needs, start investing as soon as you can afford to—a little can go a long way if you take a long-term approach.

    “AIA Philippines’ long-standing commitment to people development is embodied in its investment on the practice of training the Financial Advisors. The company invests in comprehensive training and development curriculum, and business-building support to equip us with expert knowledge and skills to help serve our customers better and build our insurance business,” she adds.

  6. Invest early and wisely.

    Do your research before investing, and choose established and stable companies to manage your funds. It may be tempting to go with a company or individual who promises high returns, but always take a look at the track record of the company you will invest with, as well as the person who will invest the money for you.

  7. Diversify your investment.

    Do not put all your eggs in one basket. To minimize losing your savings, it’s best to spread out your money among different products to reduce risk.

  8. Build your wealth slowly but surely.

    Don’t trust get-rich-quick schemes. Investments take time to grow. A popular concept to keep in mind is the financial pyramid, which has life and critical illness insurance at its base. With this strong foundation, you can then start saving, which leads to the next level, investing or wealth building. It can be a long process, but the rewards are well worth the effort.

  9. Talk to a licensed Financial Advisor.

    “Our job is to provide expert advice when it comes to finances. Do something today, so your future self will live a worry-free life,” says Edna, who highlighted how AIA Philippines paved the way to a more meaningful and rewarding business as an Insurance Entrepreneur.


You might also be interested in

Carpe Diem: How Building A Business In The Insurance Industry Can Be Rewarding

Carpe Diem: How Building A Business In The Insurance Industry Can Be Rewarding

Turning Passion For Helping People Into A Business

Turning Passion For Helping People Into A Business

Is There Life After Working Abroad? Yes, And Possibly A Much Better One, Too!

Is There Life After Working Abroad? Yes, And Possibly A Much Better One, Too!

INTERESTED IN BECOMING AN INSURANCE ENTREPRENEUR?

Being an Insurance Entrepreneur

Being an Insurance Entrepreneur

Career Advancement

A boost to get you started

The support to keep you going

Copyright ©️ 2015 AIA Group Limited and its subsidiaries. All rights reserved.
Facebook Instagram Youtube

This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookie Policy and Privacy Policy Statement.

Select Your Preferred Channel

Please select your preferred channel to receive you 6-digit verification code

Resend Verification Code | 0s
Resend Verification Code

x