How to navigate adulting while enjoying life worry-free
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So you’ve got your diploma, an entry-level job, and a corporate suit to match your status as a bonafide grown-up. Still, you sometimes find yourself scratching your head on how to pay the bills and keep the household in order, especially when you have ageing parents who are also confused as you are in navigating the “real world.” Others are not so lucky—they have to brave this new world without the guidance of elders or a functional parent.
While the school of hard knocks can teach us lessons through experiences, wouldn’t it also be nice to have a guide in adulting while enjoying life worry-free? Being prepared for the future also aligns with our YOLO mantra, and so does our collective awareness of not repeating our parents’ life and money mistakes.
Here are some tips on how to take charge of our 20s and 30s proactively.
Complete all your government IDs
In this bureaucratic country, having a complete set of government IDs will save you a lot of time with transactions, whether it involves the government or the private sector. Prepare a clearbook for the necessary documents and IDs so you can easily pull them out when needed.
Secure yourself or a family member of a PWD ID and other LGU discounts
The government, especially the local government units, provides discounts to people with disabilities, and senior citizens. The privileges can range from discounts on food and medicine to a free movie ticket. In Makati City, the non-senior citizens can even enjoy discounts on hospital bills if they have the LGU’s “yellow card.” In Quezon City, the LGU offers mental health care with free medicine. Taking advantage of these benefits from our hard-earned taxes would help our wallets in the long run.
Have a separate bank account for emergency funds
It’s not enough that you have an ATM card for payroll. Open a bank account to build an emergency fund that is between three and six months' worth of household expenses. In these tumultuous times, even regular employees can get laid off and a severance pay could only do so much.
Prioritize protection for peace of mind
The twentysomethings’ limited budget for insurance coverage is no longer a concern nowadays as there is now a one-stop-shop type of product that can give them good value for money—something that would put down the worries of the thirtysomethings, too.
Enter AIA Max Protect, AIA Philippines’ new life insurance product that provides a 200 percent death benefit. On the other hand, should the insured live up to 100 years old, the death benefit becomes a maturity benefit and receives the 200 % instead.[1] AIA Max Protect comes in different variants that fits the protection needs of the customer.
Young professionals and freelancers who are breadwinners may want to avail of AIA MAX PROTECT - LIFE providing coverage against total and permanent disability and personal accidents. It offers peace of mind, ensuring that whatever happens to them, their loved ones will be covered by their life insurance plan.
Breadwinners (especially young parents) who are most concerned about expenses in case of sickness, might also want to avail of AIA MAX PROTECT - HEALTH. These would include coverage against ten critical illnesses like Cancer and Heart Attack, in-patient hospitalization benefit to subsidize expenses should the insured get confined, and hospital income benefit for extra cash in case of unpaid sick days.
Want to know more? Visit AIA Philippines, send an email to [email protected], or call (02) 85282000.
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[1] The death benefit will be paid out in case of death of the policy holder. Should the policy holder reach the age of 100, the death benefit becomes a maturity benefit and will be paid out to the policy holder. In case of conflict, the terms and conditions of the insurance policy shall govern.
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Editor’s Note: BrandedUp is designed to provide you with insightful, inspiring and educational content created by PhilSTAR L!fe in collaboration with brands like AIA Philippines.