9 Financial Things Every Adult Should Start Having This 2018-asdf




New Year, New Me. Your outlook on life may begin to change, but does it include the financial aspect?

Join our Telegram Community

Since the year has only begun, it’s only right to set our priorities straight as early as now. It’s best to put your money where, at the end of the year or even years after, it can grow or stabilize at the very least. Money isn’t the key to happiness, but it is the key to a secured future, which can result in happiness.

Now if you don’t know how to handle money, here are 9 financial things you should start to have this 2018 as adults:

1. Stable Income-Generating Job

This is a no-brainer, but you should have a job to at least generate income. This will be the source of all the things you need to have as the list goes on.

2. Bank Account

If you haven’t opened a bank account yet, now is the time to do so. Having a bank account means having a place to store your money, and that beats just storing it somewhere inside your house. Find a bank that’s convenient for you in terms of location, inquire about the different types of accounts, and pick what suits your lifestyle best.

3. Credit Card

Believe it or not, having a credit card, if used wisely, has its perks. You will notice some banks offer discounts when you use their credit card when purchasing certain items or even booking hotels/restaurants. Always check for promos in your respective bank and use it to your advantage.

4. Long-Term Budget Goal

The first three items are the basics, now you have to think long term. “Years from now, how much do I want to earn”. Think about all your responsibilities– current and future– and think of all the expenses you need to shell out. From there, creating a long-term budget goal will be easier.

5. Budget Tracker

Now that you have started saving up, it’s important to keep track of your money. Keep a notebook or an online database wherein you could input your income and expenses. This will remind you how much you have to save, how much you can spend, and many more. It’s really helpful to be reminded of times, to be honest.

6. Insurance

Insurances will come in handy whether you believe it or not. Accidents and illnesses such as cancer, heart attack, stroke are unexpected, so the usefulness of insurances is also unexpected. It is always better to be safe than sorry. The purpose of having an insurance policy is for you to have a guaranteed amount that you can withdraw if, God forbid, you get into an accident or get very sick. You wouldn’t want to deplete you humble savings, would you?

There are numerous companies that offer insurances, so take some time to browse through them and commit to what you think might be helpful in the long run. Want to know more? Email us at [email protected]

7. Emergency Fund

How much? Experts suggest making sure you save enough money to cover between three and six months‘ worth of living expenses.
Sit down with a pen and notebook. List down all your daily expenses and total it all in a month. Multiply that by 6 (or 3 at the minimum), and that’s how much you should set aside as emergency money. Emergency money is used in a case– God forbids– you lose your job and you have to get by without an income. With this, you won’t have a problem surviving the month/s ahead as you’re looking for a new job.

8. Investments

There are many types of investments (e.g. stocks, mutual funds, small businesses, etc.).

For more information, you can check out this link:

Browse through it and you’ll be knowledgeable of the different types and then you can decide which one is best for you. They say you should start investing as soon as you start earning. If you have been working for 5 years now, how does your investment portfolio look so far?
Cryptocurrency is another form of investment that is starting to make waves in the country. It is a digital currency that people online use to trade. Bitcoin is a famous digital currency and its value keeps getting higher and higher.

Read this article if you’re interested about cryptocurrency: https://www.crypto-ph.org/

Investments are very important if you want a secured future, so research well and ask legitimate people to help you get started.

9. Extra Curricular Activities Fund

All work and no play makes Jack a dull boy, as they say. Whether it’s traveling, joining fun runs, hiking, etc.… Find time to unwind every now and then and make sure you allocate a budget to avoid overspending.

It’s only the first week of January. Give yourself some time to plan things out and prepare for your future. It’ll feel like having a burden off your chest, trust us. Here’s to a better 2018!

Have any questions? Feel free to comment on this post! Share this with your friends if you think they should learn about handling their money, too!


Like This Post? Share it with your friends!