financial advice – Jellybeans in the City

Money-smart ways to enjoy the holidays

As soon as the “Ber” months roll in, we all feel that familiar shift: Christmas lights start twinkling, gift lists begin forming, and our calendars slowly fill with reunions. It’s a warm, exciting time of the year — but to be honest, it can also be one of the most financially stressful. With the long holiday season stretching from September all the way to January, our wallets also often end up working overtime.

If you’re looking to enjoy the festivities without waking up to post-holiday debt, the key is simple: plan early and spend smartly. Here are five practical ways to keep the season merry, meaningful, and financially bright.

1. Set a realistic holiday budget and track it closely.

Before the celebrations sweep you away, take a moment to ground yourself. How much can you really spend without compromising your bills, savings, or upcoming goals? Break your budget into categories — gifts, food, travel, Noche Buena, parties — so you know exactly where your money will go. A simple spreadsheet or budgeting app is often enough to keep you in check. The goal isn’t to restrict joy, but to make sure you’re not stressing about expenses long after the decorations are packed away.

2. Shop early, smart, and strategically.

Impulse buying during peak season is a recipe for overspending. A better approach? Start with a gift list — complete with spending limits per person — and stick to it. Then, pace your purchases. Don’t wait for December; holiday promotions pop up as early as September, and spreading out your shopping helps reduce the strain on a single paycheck. This way, you avoid panic buying and get to enjoy the process instead of rushing through malls at the last minute.

3. Focus on experiences over expensive gifts.

If there’s anything the past few years have taught us, it’s that shared moments matter more than things we can wrap. Consider DIY gifts, handwritten notes, framed photos, or homemade treats — thoughtful gestures that cost less but mean so much more. For family gatherings, suggest a potluck instead of catered spreads. And if your barkada loves exchanging presents, why not try Secret Santa? It keeps the fun while keeping expenses manageable.

4. Use cash or debit for holiday spending.

Credit cards are convenient, yes, but they can also lead to painful January realizations. If possible, use cash or debit so you’re spending only what you actually have. If you must swipe, set a clear limit and commit to paying it off in full when the bill arrives. Avoid letting the holiday spirit turn into long-term debt.

5. Save a portion of your bonus and protect your financial future.

When the 13th month pay or holiday bonus arrives, it’s tempting to splurge — and you should enjoy it! But consider setting aside a portion for long-term goals. One option is exploring financial tools that give both protection and savings. For example, Sun Life’s Save and Protect plan offers up to 20x insurance coverage and a money-back guarantee after 20 years, making it a thoughtful gift for your future self and the people who matter most.

As the holiday rush approaches, take a step back to reflect on how you want to spend — not just your money, but your time and energy. A Sun Life advisor can also help you review your plans and set goals for the coming year, so you can greet the New Year with clarity, confidence, and a lighter heart.

Here’s to a bright, debt-free, and joy-filled holiday season!

For more financial literacy tips and stories, visit www.sunlife.co/LifeGoals.

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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Back-to-school savings made easy with Home Credit

We all know that getting your kids ready for the can be quite the juggling act. Tuition fees, supplies, uniforms, and whatnot – it’s a lot! But fear not, because here are some friendly advice to help you sail through this back-to-school season without feeling like you’re hemorrhaging money.

Planning Ahead

Before you dive into the money stuff, start with the basics. Creating a checklist of what your kids actually need is super important. School supplies, uniforms, fees – these definitely should be listed out. Don’t forget to rummage through last year’s stuff; you might find some items that are still good to go for this year. Cross those off and pat yourself on the back for being thrifty!

Budget Like a Pro

Alright, let’s talk numbers. Take a good look at your checklist and estimate the costs. Now comes the fun part – setting a budget! Remember, it’s all about what you can afford. Being realistic here is key. A budget helps you keep things in check and avoid those dreaded overspending blues.

Score Big on Deals

Sales and discounts are your new best friends. Seriously, these babies can save you a ton of money. When you’re shopping for supplies, keep your eyes peeled for the deals. Buying in bulk is also a genius move; it sets you up for the entire school year. Extra tip: save even more by using those deals to free up cash for other important things.

Your Secret Weapon – Home Credit

Need a financial boost to ace this back-to-school game? Look no further than Home Credit. They’ve got your back with a slick back-to-school cash loan promo. Score loans from PHP 3,000 to PHP 150,000 to cover all the essentials like tuition, supplies, and more. Applying is a breeze on the My Home Credit App. Oh, and did I mention they process it in just one minute? Plus, the icing on the cake: flexible payment options and up to five months of free installments for those punctual peeps.

Nitty-Gritty Details

Sounds amazing, right? Here’s the lowdown: as long as you’re an eligible Home Credit customer with an active account and good credit standing, this promo is yours for the taking. And guess what? You can keep riding the Home Credit wave even after scoring big with the back-to-school promo.

Grab the Opportunity

Don’t miss out on this golden chance! Home Credit’s promo is here to make sure your kids step into the new school year like champs, without draining your wallet. Jump on it while you can and give your kiddos the tools they need for success.

For more info and updates, check out Home Credit Philippines’ official website at www.homecredit.ph. You can also keep up with them on Facebook, Instagram, and TikTok. And hey, don’t forget to download the My Home Credit App on Google Play to stay in the loop about promos and Marketplace treats.

About Home Credit Philippines

Just a heads up – Home Credit Philippines is totally legit. They’re fully licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP). So, you’re in safe hands, my friend.

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Family Culture and Wellness Thrive at Sun Life Grepa

Navigating the post-pandemic workplace requires organizations to reassess their practices and create environments that prioritize employee well-being and a sense of belonging. Sun Life Grepa Life Financial, Inc. (Sun Life Grepa or SLGFI), a leading life insurance company in the country, stands out by placing family-centric values and wellness at the heart of its workplace culture.

A Warm Family-Oriented Culture

At Sun Life Grepa, the sense of family runs deep. Employees affectionately refer to themselves as ‘Sun Grepamilya,’ a playful twist on the word ‘pamilya’ (family), reflecting the strong community bond within the organization. The welcoming atmosphere extends to everyone who steps through their doors. Employees at all levels embrace an approachable attitude, fostering an environment where difficult conversations are heard and valued. This commitment to open communication is exemplified through various programs, including the delightful “Up Close with Richard Lim” breakfast gatherings, where selected employees get a chance to connect with the company president. Another initiative, the “HR Kamustahan,” offers one-on-one discussions with key role holders and high performers. These platforms provide a space for Sun Life Grepa to listen attentively to employee sentiments, reinforcing their culture of care and ensuring that everyone feels comfortable being their authentic selves.

Wellness as a Priority

Recognizing the vital connection between employee well-being and a thriving work environment, Sun Life Grepa introduced the comprehensive “SLGFI Cares for You” program in 2022. This initiative encompasses a wide range of well-being initiatives, with the flagship program being the Employee Assistance Program (EAP). The EAP provides employees with free 24/7 counseling services covering mental health, financial advice, and legal support. Sun Life Grepa acknowledges the significant role that family plays in overall employee well-being and extends these benefits to employees’ household members.

Prior to the launch of “SLGFI Cares for You,” Sun Life Grepa already prioritized employee wellness through various avenues. Pre-pandemic, employees enjoyed sports activities that promoted physical fitness and team bonding. When the pandemic hit, the company swiftly adapted, organizing virtual wellness sessions on weekends to ensure that employees and their family members could participate. These sessions featured engaging fitness videos and wellness content, complemented by webinars covering stress management, office ergonomics, healthy meal preparation, resilience, and burnout prevention. Sun Life Grepa also addressed spiritual wellness, offering a virtual spiritual retreat during the lockdown, along with virtual First Friday Masses. As the world transitions into the new normal, these church services now follow a hybrid format, accommodating both physical and virtual attendees.

Safety First

Sun Life Grepa places a premium on the safety of its employees while attending to client needs. The company implemented strict safety protocols during the pandemic and conducted extensive COVID-19 learning programs for employees and their families. Shuttle services were provided to employees who had to commute to work to process client claims and deliver critical services during the lockdown. Despite occasional vaccine scarcity, Sun Life Grepa ensured that all employees and their loved ones could access free vaccination programs. The company’s commitment to safety extended beyond monitoring workplace COVID-19 cases; it also offered a readily available medical teleconsultation facility for employees and their dependents.

Empowering Financial Literacy

Sun Life Grepa believes in empowering its employees to make informed financial decisions and become knowledgeable about life insurance. Regular learning sessions on insurance and investments are conducted with industry experts, equipping employees with essential knowledge for managing their finances. To further support this goal, the company offers the Employee Assurance Program, enabling employees to purchase investment products through a convenient salary deduction plan.

Engagement and Growth

Throughout the pandemic, Sun Life Grepa maintained a vibrant and engaged workforce. Employees continued to enjoy a range of activities, from annual summer outings to quarterly town halls, annual Christmas parties, and even occasional movie nights. Sun Life Grepa ensured that employee development remained a priority by providing programs that equipped employees with new skills and ways of working. From data management and presentation skills to business communication and agile ways of working, employees had opportunities to grow and adapt. The company-wide learning programs on “Agile Ways of Working” and “Psychological Safety” further reinforced their commitment to fostering growth and creating a supportive environment.

Recognition and Trust

Sun Life Grepa’s dedication to recognizing and supporting its employees’ achievements remained unwavering throughout the pandemic. Salaries and benefits were consistently provided, and additional support was offered when needed. Various awarding activities celebrated employee accomplishments, including nominations for awards in the global Sun Life office. The result of these efforts is not only high scores in internal engagement surveys but also an official certification as a Great Place to Work™ for November 2022 to November 2023, boasting an impressive 83% Trust Index Score.

“Our Great Place to Work certification validates that Sun Life Grepa employees truly trust the company and their leaders,” says Pinky Moreno, Vice President for Human Resources. “We are continually working on improving the work-life balance of our employees through various people development and culture enhancement programs, ensuring that our workplace remains an inspiring and inclusive environment where people are valued, growth is encouraged, and work-life balance is prioritized. It’s a place for a fulfilling and long-term career.”

Discover the Sun Life Grepa Difference

If you are seeking an employer that prioritizes family-centric values and employee well-being, Sun Life Grepa Life Financial, Inc. is the place to be. With its warm and inclusive culture, comprehensive wellness programs, commitment to safety, emphasis on financial literacy, and unwavering support for employee engagement and growth, Sun Life Grepa provides professionals with a fulfilling and long-term career. Join the Sun Grepamilya today and experience the difference.

To learn more about Sun Life Grepa’s family-centric culture and the exciting opportunities available, visit www.sunlifegrepa.com. Your dream workplace awaits!

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Will debt consolidation ease your money worries?

Like it or not, the state of your finances can and will affect your physical and mental well-being.

If you are experiencing chronic financial anxiety – the near-constant state of worry, stress or emotional disturbance over the state of your financial affairs – you might also be prone to disorders and behaviors that can negatively affect your body and mind.

Sufferers of financial anxiety are also likely exhibiting sleep disorders, weight fluctuations and disruptions from normal eating habits, unexplained aches and pains, as well as physical health concerns such as headaches, heart and blood pressure problems, and stomach issues.

Financial anxiety can also affect mental health. Feeling burdened by money worries could lead to the waning of self-confidence or sense of competence, as well as exacerbating the feeling of isolation.

With such worrying effects arising from financial anxiety, it is clearly a condition that needs to be avoided or immediately addressed if one is a afflicted by it.

A recent CNBC article cites the aside from job loss, the continually rising cost of living and the lack of knowledge regarding personal finance, financial anxiety is also commonly caused by money missteps.

One such misstep is getting into quite a lot of debt. Whether this situation came about due to abusing your credit card, falling back on your payments to previous financial obligations, or other actions or lack thereof to put yourself in a better financial state, knowing that you owe a big sum of money can feel quite stressful.

If you find yourself in this situation, experts advise not to beat yourself up about it. The best recourse is to clear your mind and make a sound plan of action.

A step that you can take is to consider debt consolidation. As discussed in this 2021 Forbes.com article, combining multiple debts into one with a single monthly payment and usually with a lower interest rate through a personal loan or a balance transfer credit card helps to streamline your finances and speed up paying off your obligations, thereby getting you closer to being debt-free.

With that said, you would still need to think carefully on whether debt consolidation is the best option for you. The same article posits that debt consolidation may come with added costs – such as origination fees, balance transfer fees, closing costs and annual fees – and does not resolve underlying financial issues such as lousy spending habits which may lead you to getting into more debt.

Debt consolidation may be your best bet if your total debt amount is high enough to justify the additional fees and efforts involved in getting a new loan, if you are set on working to improve your finances through positive changes in your money habits and if your current cash flow is sufficient cover the new monthly payments. Having a credit score high enough to qualify for a lower interest rate will also go a long way towards making debt consolidation work for you.

At the heart of this issue is the need to have a thorough understanding of yourself and your financial habits, your current financial standing and your future financial prospects to be able to gauge whether debt consolidation is the right course of action for you.

It also helps to read more about debt consolidation so you can take the first important steps towards your financial freedom and, hopefully, to a better physical and mental state.

Photo credits:

Header photo by presfoto on Freepik
In-article photos by Liza Summer, Pixabay and Daniel Reche on Pexels