budgeting – Jellybeans in the City

Simplify Your Holiday Shopping: 5 Expert Tips from Home Credit

The holiday season is a time for joy and togetherness, but let’s face it, it can also be pretty stressful, especially when it comes to holiday shopping. The pressure of finding the perfect gifts, dealing with crowded stores, and managing your budget can turn this wonderful time of year into a headache. But fear not, because Home Credit, the leading consumer finance company in the country, has your back with five smart tips to make your holiday shopping a breeze.

Make a List

Santa isn’t the only one who benefits from a well-organized list. Start by creating a detailed shopping list that includes the names of the people you want to buy gifts for, your gift ideas for each person, and the shops where you can find those items. Having a list will keep you organized, help you stay on track, and reduce the chances of forgetting anyone or anything on your gift-giving list.

Set a Budget

Before you hit the stores, set a clear and realistic budget for your holiday spending. Review your list and allocate a specific amount for each person. Sticking to your budget will help you avoid overspending and prevent financial stress during the holiday season.

Start Early

The early bird truly gets the stress-free shopping experience. Don’t wait until the last minute to start your holiday gift shopping. Purchase your gifts well in advance of the holidays. Starting early allows you to take advantage of sales and discounts, avoid the holiday rush, and ensures you have ample time to find the perfect gifts without feeling rushed or pressured.

Explore Installment Deals

One of the best-kept secrets for a hassle-free holiday shopping experience is taking advantage of installment deals. Home Credit is your go-to destination for this. It offers a wide range of 0% interest rate installment deals on a variety of products. Home Credit makes it easier for you to check out amazing holiday sales through its official website or My Home Credit App. You can also check out Shoppingmall.ph, an online shopping platform for authentic smartphones, laptops, gadgets, and home appliances. This platform helps you find the best deals in stores near you, making it much easier to apply for zero-percent interest rate installment plans and get pre-approved in minutes. Plus, you can chat with a live Sales Agent for more information. By choosing installment plans, you can spread the cost of your purchases over manageable periods, keeping your finances in check during the holiday season.

Stay Tuned for More Deals and Discounts

This holiday season, make a commitment to stress-free shopping by following these expert tips. Keep an eye out for Home Credit’s biggest and grandest holiday offerings yet. It has more 0% interest rate installment deals and flexible loan offerings for a wide range of products, including mobile phones, tablets, laptops, home appliances, furniture, and more. So, watch out for the exciting deals that will make your holiday shopping even easier on your budget.

And, if unexpected bills or the need for extra holiday funds arise, Home Credit has your back with Qwarta and Cash Loan options. These alternative payment options allow you to enjoy the holiday season while having the financial freedom to purchase what you need and experience what you want at your own pace.

So, there you have it, five expert tips from Home Credit to simplify your holiday shopping. With a well-planned list, a set budget, early shopping, installment deals, and access to extra funds when needed, you can make this holiday season truly joyful. For more information and to stay updated on Home Credit’s latest offerings, visit their official website, www.homecredit.ph. You can also follow their official Facebook, Instagram, and TikTok accounts, or download the My Home Credit App on Google Play to learn about the latest promos and see what’s new in the Marketplace.

Make your holiday shopping a breeze with Home Credit and enjoy the season to the fullest!

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Thriving Amidst Inflation: Financial Strategies for Young People

In today’s rapidly changing economic landscape, one term seems to be on everyone’s lips: inflation. You’ve probably heard it during your family conversations or in newscasts, and you might have noticed its effects on your everyday life. The most important thing to remember is not to fret; you’re not alone in facing this challenge.

Having grappled with this and other personal finance issues in more than twenty years of #adulting, allow your Tita Jellybeans to share some valuable advice on how you can not only cope with high inflation but also thrive despite it.

Understanding Inflation and Its Effects

First things first, let’s demystify inflation. Inflation is like the invisible force that gradually erodes the purchasing power of your hard-earned money. As prices for goods and services rise, your peso doesn’t stretch as far as it used to. This can be especially tough for young adults who are trying to establish themselves financially.

So, how does this affect you? Well, it impacts everything from your rent and groceries to your savings and future financial plans. But, again, fret not; there are strategies to help you weather this storm.

Budgeting and Financial Planning

One of the most effective ways to tackle inflation is through budgeting. Creating a well-thought-out budget allows you to take control of your finances, even in an inflationary environment. But remember, a budget isn’t about depriving yourself; it’s about making informed choices.

Use tools like a budget planning calculator to help you get started. This will help you allocate your income to necessities, savings, and discretionary spending wisely.

Strategies for Cutting Costs

Cutting down expenses doesn’t mean sacrificing your quality of life. It means finding creative ways to be more efficient with your money. Prioritize your spending, look for discounts, and consider alternatives to costly habits. For example, try preparing meals at home instead of dining out. You can even use a brown bag calculator to see how much you can save by brown-bagging your lunch.

Generating Additional Income

In tough economic times, finding ways to increase your income is crucial. Freelancing, part-time gigs, or starting an online side business can be lucrative endeavors. The gig economy offers various opportunities for young people to supplement their income.

For instance, while I work full-time as a marketing manager in a telecommunications company, I also do freelance writing jobs and marketing consultancy on the side. These side gigs help to supplement my income while keeping my skills sharp for my main job.

Explore options for your own side hustle, invest your time and effort, and watch your financial situation improve.

Investing Wisely

Inflation isn’t all bad news; it can also be an incentive to start investing. Even if you’re not a financial expert, there are investment options suitable for young adults. Consider exploring low-risk investments like index funds or bonds. An investment return calculator will help you figure out which financial instruments are worth investing in. The key is to start early, as the power of compounding can significantly boost your savings over time.

Education and Skill Development

In an ever-changing job market, continuously improving your skills is essential. Consider online courses, workshops, or certifications that enhance your knowledge and employability. Don’t hesitate to invest in your education; it’s an investment in your future earning potential.

Adapting Lifestyle Choices

Your lifestyle choices play a significant role in managing inflation’s impact. Evaluate your spending habits, and be prepared to make adjustments. It’s not about sacrificing everything you enjoy but finding a balance that aligns with your financial goals.

Seeking Professional Financial Advice

Lastly, consider seeking guidance from a financial advisor or expert. They can provide personalized advice based on your unique circumstances and goals. Look for a trustworthy advisor who can help you navigate the complexities of personal finance.

Thriving in the Face of Inflation

Inflation may seem like an intimidating foe, but armed with the right strategies, you can not only cope but also thrive despite it. Remember, budgeting, cost-cutting, earning extra income, investing wisely, and continuous learning are your allies in this battle. Adapt your lifestyle, and don’t hesitate to seek professional advice when needed. By taking these steps, you can pave the way for a financially secure future, no matter the economic challenges that come your way.

Stay resilient, stay resourceful, and remember that your financial journey is a marathon, not a sprint. With the right tools and mindset, you’ve got this!

Take it from your Tita Jellybeans!

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Is Your Home Keeping Up with Your Growing Family?

As your family grows, so do your needs for space, comfort, and functionality. The house that was once perfect for a couple may start feeling cramped as children come into the picture, bringing their toys, activities, and unique requirements. Knowing when to consider upgrading your house size is essential to ensure that your family’s changing needs are adequately met.

When Should You Upgrade Your Home?

The decision to upgrade your home should be based on several key factors. One of the primary indicators is space limitations. If you find your current living space feeling cluttered and cramped, with belongings spilling into every available nook, it might be time to start considering a bigger house. Additionally, the number of bedrooms becomes crucial as your family grows. As children reach a certain age, sharing bedrooms may no longer be a practical or peaceful solution.

Another factor to consider is functionality. Are you finding it challenging to accommodate your family’s lifestyle and daily routines within the existing layout? A house that worked well for a couple might become less convenient as the family dynamics change. Consider whether you need more open spaces, a larger kitchen, or a dedicated playroom for the kids.

Lastly, the emotional aspect of needing a home that accommodates your family’s growth is essential. A bigger house can provide a sense of stability and comfort, creating a space where everyone can thrive and make lasting memories together.

Sweet Couple playing under the blanket on the bed

Is It Worth Upgrading to a Bigger House?

Deciding whether upgrading to a bigger house is worth the expense and the effort involves evaluating both financial and practical aspects. While a larger home may come with a higher price tag, it can also be a long-term investment that pays off in various ways.

Financially, it’s essential to assess your budget and calculate how much you can comfortably afford. Take into account not only the down payment but also the ongoing expenses, such as property taxes, maintenance costs, and utility bills. However, keep in mind that investing in a bigger home might appreciate in value over time, potentially building equity for your family.

On the practical side, a bigger house can offer numerous benefits. More space means everyone has room to pursue their interests and hobbies. It also allows for better organization and reduces the chances of clutter accumulation. Plus, a larger home may provide the opportunity to entertain guests comfortably, fostering social connections and family bonding.

Happy couple at Home office with Online business, Marketing online and freelance job

What Is the Ideal House Size to Raise a Family?

The ideal house size for raising a family varies depending on individual preferences and needs. While some families may thrive in a spacious suburban home with a backyard, others may prefer a more compact urban dwelling with easy access to amenities.

When determining the ideal house size, consider striking a balance between space and maintenance costs. A massive property might provide ample room to roam, but it could also demand more time and money for upkeep. Assess your family’s lifestyle and prioritize essential features that enhance daily living, such as sufficient bedrooms, storage space, and areas for family activities.

Remember that the right house size is more than just the physical dimensions; it’s about finding a place that feels like home, where your family can flourish and create lasting memories.

Cheerful Happy couple relaxing in sofa at home

Manage Your House Mortgage Payments

Managing your house’s mortgage payments is crucial for maintaining your family’s financial stability and security. Here are some valuable tips to help you stay on top of your mortgage:

a. Create a Budget: Develop a detailed budget that includes all income sources and monthly expenses. Allocate a portion of your budget for mortgage payments and stick to it diligently.

b. Prioritize Savings: Build an emergency fund to cover unexpected expenses, such as repairs or medical emergencies. Having a safety net will ease financial stress and prevent you from falling behind on mortgage payments.

c. Use a Mortgage Checker: Utilizing a mortgage checker to calculate and plan your mortgage payments can help you determine how much you can afford, estimate your monthly payments, and explore different repayment options.

Upgrading your house size as your family grows is a significant decision that impacts your family’s comfort, well-being, and future. Knowing when it’s time to consider a bigger house, weighing the benefits, and finding the ideal size that suits your family’s needs are essential steps in this process. Additionally, managing your house’s mortgage payments is crucial for maintaining financial stability and ensuring a secure future. By using practical tips and tools like a mortgage checker, you can navigate this exciting phase of life with confidence, creating a home where your family can thrive and build cherished memories together.

Images by jcomp on Freepik

Rebooting your finances: How to restart your financial journey

Do you sometimes get the feeling that you’re in a financial rut? When you feel overwhelmed with bills and debts, or short on funds? Or when you worry about what you will leave behind for your kids?

It may be time for a financial reset.

In a recent leg of Sun Talks, Sun Life’s series of talks on financial wisdom, Cluster Head Valerie Lagarde-Amora and Financial Advisor Andrea de Guzman provided attendees with pertinent knowledge and stories on how to do just that.

During the session, I learned that taking control of your finances and embarking on a journey towards financial success can be quite a transformative step. Whether you’re starting from scratch or seeking to realign your financial goals, restarting your financial journey is possible at any stage of life.

Getting Ready

As the initial phase of the financial journey, this is the time to assess your current financial situation and lay a solid foundation for future success.

Take stock of your income, expenses, debt, and assets. This self-assessment will provide clarity on where you stand financially.
Set realistic financial goals. Whether it’s paying off debt, saving for a down payment, or creating an emergency fund, clear goals will serve as a roadmap for your journey.
Create a budget and track your spending. A budget helps you allocate your resources effectively and identify areas where you can cut back and save.
Build healthy habits. Now is also the time to establish patterns of behavior that will keep you fit and healthy for life such as a sustainable exercise routine and a balanced diet.

Moving Up

When you’re at this stage of progress and growth, you should strive to increase your income, build wealth, and improve your financial standing.

Enhance your earning potential. This is the time to go after opportunities for career advancement or consider pursuing additional education .
Develop a savings plan and establish an emergency fund. Having a financial safety net allows you to navigate unexpected expenses without derailing your progress.
Reduce debt and manage credit effectively. Prioritize paying off high-interest debts and explore options for consolidating or refinancing to ease your financial burden.
Explore investment options to grow your wealth. Consider diversifying your investment portfolio based on your risk tolerance and financial goals.

Planning Ahead

At this stage, you should focus on long-term financial security and retirement planning.

Evaluate your retirement goals. Think ahead on how you want spend your retirement years and consider savings options to sustain your lifestyle.
Assess insurance needs for protecting your assets and loved ones. Adequate life, health, and disability insurance coverage provides peace of mind and safeguards against unforeseen circumstances.
Engage in estate planning. Creating wills, establishing trusts, and designating beneficiaries ensure that your assets are distributed according to your wishes.

Review and adjust your investment portfolio to align with your long-term goals. Regularly assess your risk tolerance and make informed decisions based on market conditions and changes in your financial situation.

Leaving a Legacy

By focusing on preserving the value of your wealth that you have accumulated over the years and safeguarding your loved ones from costly estate taxes and fees, you can leave a lasting legacy that truly benefits future generations.

Create a comprehensive estate plan that maximizes the value of your assets. Working with estate planning professionals, such as lawyers or financial advisors, can help you navigate complex tax laws and ensure your assets are distributed efficiently.
Consider life insurance as a way to provide financial security for your beneficiaries. Life insurance policies can cover estate taxes, funeral expenses, and provide a financial cushion for your loved ones in your absence.
Regularly review and update your estate plan to reflect changes in your financial situation, family dynamics, or tax laws. By staying proactive, you can ensure that your legacy plan remains aligned with your goals and current circumstances.

The key is to restarting your financial journey is to take action and start today. Regardless of the stage you find yourself in, doing so will pave the way for a brighter financial future. Empower yourself with knowledge, stay committed to your goals, and adapt as circumstances change. Also, remember that seeking professional advice can provide invaluable support along the way.

The Sun Talks on “Restarting Your Financial Journey” has illustrated that undergoing a financial reset may not be easy, but the rewards are worth it. Embrace the opportunity to regain control, achieve financial success, and build a solid foundation for the future. Your financial journey starts now—make the decision to take that first step towards a brighter financial future.

Want to get started on journey towards a better financial future. Check out Sun Life’s life insurance products by consulting a Sun Life advisor or visiting its website.

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2022, Sun Life had total assets under management of CAD 1.33 trillion. For more information, please visit http://www.sunlife.com.

Sharpen your money smarts with these online money games

Let’s face it: chances are, many of us aren’t money-smart.

Some of us can go through our entire lives without knowing how to make budgets work, save our earning, handle debt or even make our money grow into wealth.

Sadly, most of the education we received growing up involved practically anything except money matters. Whether this is due to the lack of appreciation of our educational institutions on financial literacy or the tendency of the academe to look down on matters of coin, this situation leaves us at a loss when it comes to financial problems.

What is money smarts?

Money smarts, otherwise known as financial literacy, refers to the knowledge and skills required to manage one’s personal finances effectively. It involves understanding how to earn, save, invest, and spend money in a way that maximizes one’s financial well-being and minimizes financial stress.

If you feel yourself lacking in any of these skills, you may need to brush up on your money smarts.

Budgeting. Can you create a budget and stick to it? Do you understand the flow of your income and expenses and therefore know how to allocate your money accordingly?
Saving. Can you put aside some money for short-term and long-term goals? Should a medical emergency that brings astronomical hospital bills, a major purchase such as a downpayment for a house, or sudden unemployment arise, will you have saved funds for it?
Investing. Can you make your money grow aside from just working several jobs, thereby getting passive income? Would you know how to invest your money and manage your risks to support your goals?
Debt Management. Would you be able to manage your debt responsibly, such as paying off high-interest debt first and avoiding unnecessary debt?
Financial Planning. Can you plan your finances for a long-term basis taking into consideration your goals, income, and expenses? Can you plot out the steps you have to take and adjustments you need to make with how you earn, spend and save your money to be able to achieve your goals?

Why is it important to have money smarts?

Money smarts is important because it allows us to take control of our finances, bringing about these benefits:

Financial Stability: It helps us ensure that we are living within our means and saving for our future.
Reduced Stress. It provides us with the know-how to manage our finances effectively, eliminating guesswork and uncertainty.
Better Financial Decisions. It allows us to make informed decisions about our money, particularly in terms of investing, saving and spending.
Increased Wealth. It helps us increase our wealth over time through making smart financial decisions and investing in our future.

How to develop money smarts

If you find yourself lacking in money smarts, it makes sense to start developing it. The prospect may seem daunting at first, but with some dedication, you can take some steps to improve your financial knowledge and skills:

Get in the know. Educate yourself about personal finance by reading books, attending seminars, or taking online courses about the basics of budgeting, saving, investing, and debt management.
Start budgeting. Creating and sticking to a budget is an essential component of money smarts. Track your expenses for a month – including all expenses such as rent, utilities, food, and entertainment – and factor those into your budget.
Set financial goals. Have a definite goal in mind to help you make smart financial decisions and stay motivated to do so while saving for a down payment on a house or paying off debt.
Start saving today. If you haven’t already, set aside a portion of your income each month for an emergency fund or long-term savings.
Manage your debt. Being entirely debt-free is not the main goal as debt can help fund investments or assets to improve your life while allowing you practice good payment behavior.
Invest wisely. Investing can help grow your wealth over time, but it’s important to get into it with eyes wide open. Research different investment options, such as stocks, bonds, and mutual funds, and choose investments that align with your financial goals and risk tolerance.
Benefit from the wisdom of others. Seek advice from a financial advisor or mentor who can provide guidance and support as you work towards your financial goals. You can also make use of online resources such as MortgageCalculator.org to deepen your knowledge about personal finance.

A fun way to sharpen your money smarts

Aside from providing a range of educational resources on mortgages and home buying, MortgageCalculator.org also offers free and easy -to-use mortgage calculators to help users calculate various aspects of their mortgage payments and, ultimately, their financial health.

It also houses a variety of engaging and educational money games that can help users improve their money smarts and practice their financial decision-making using real-world scenarios. Over time, as users develop their financial acumen, they also develop their confidence to make sound financial decisions in real life.

Want to try your hand at honing your own money smarts through online games at MortgageCalculator.org? Check these out:

Cashback: Give the correct change for each transaction by selecting the bills and coins needed to correctly sum to the customer’s change amount. This is perfect for teaching kids about the value of money (because they, too, need to develop money smarts!)
Stocks: Ever wondered what it was like to be one of those day traders at Wall Street? This game simulates the up- and down-trends of the stock market while the player tries to buy low while selling high.
Red Outpost: Colonize Mars by sending astronauts to harvest food and mine valuable goods. The game approximates the dynamics of building a new economy from the ground up.
Coffee Shop: Build your coffee shop business by managing your inventory, cashflow, pricing and formula taking the fluctuations on the demand for coffee based on the weather. This teaches players to balance both internal and external factors in growing a business.
Sort the Trash. Move the recycling bins across the screen to catch recyclables such as cans, cartons and bottles. This is a good approximation of the need to weed through all sorts of trash to get the items of value.

These are just a sampling of the games available at at MortgageCalculator.org. Browse through the various categories to find the games that can help you grow your knowledge and skills on financial matters while providing you with lots of fun!

By providing an engaging and interactive way to learn about business strategy and personal finance, these games make learning about money more accessible and fun, which you can then apply to your real-life money strategy.

No matter which stage in life you are right now, developing money smarts is the best way to take control of your finances to get you to achieve financial stability. Honing your financial literacy will help you make smart financial decisions to set you up in a good financial position for life. So take the time to learn about money and take full advantage of the resources available to sharpen your money smarts.