So you want to Save?
A Simple Guide to Saving

After years of slaving in the office, keeping every penny you can find and fighting every urge to splurge, you ask yourself, “What’s next?” What do you do with all of your saved up money?

Here are some tips that can guide you to where you should put your money.

Analyze Yourself!
Ask yourself these questions.
(1) How much do I want to save?
(2) How long do I want it saved?
(3) Where can I put my money to make sure it’s saved?
(4) Can I afford to place my money in a high return, yet high-risk product?
Answers to these questions will guide you to finding the perfect financial vehicle that will fit your savings needs and expectations.

Do your research.
Wise saving means right planning. Before you decide to entrust your money to a company, obtain and analyze as much information related to their financial strength and stability. Understand the different financial vehicles out there against what the company has to offer. Analyze the company’s track record, the financial instrument’s behavior, indications of future interest rates and the total economic environment.

Diversify your investments/risks
Risks can never be totally avoided but they can be minimized. Spread your risks, don’t put all your eggs in one basket. Put your money in more than one type of financial vehicle.

Don’t gamble what you can’t lose!
The less you can afford a loss, the more conservative your investments should be! Go for low risk vehicles if you find yourself in this situation.

Optimize yields but be realistic!
Don’t be greedy about interest rates. Usually, the saying is true — the higher the interest rates, the higher the risks.” Don’t be careless, remember the principal is more important than the interest.

Think of why you want to save. Think of your long-term needs.
Think of your future needs and how much you should have to afford these. Match investment opportunities with life stage requirements. You need to save for your child’s education, for your retirement benefit, for medical contingencies.
Pre-Need is an effective way to guarantee these financial goals. Because with pre-need money is saved in the long term for the funding of essential financial needs.
Be smart! Invest in sure savings and prepare for your future!

TAKE TIME TO LEARN TODAY’S MONEY MATTERS. Indeed, the current savings vehicles have evolved dramatically from the time when we just knew about the “alkansya” or piggy bank.

If you happen to come across a savings offer you are not sure of, please approach and ask someone who does. Go to a Philam Planner and seek professional assistance. If you want to see the various savings options you may have, check out our products and see which will fit your needs. You may also call the Philam Plans Call Center at 5285-200.

Keep on Saving!