financial literacy – Jellybeans in the City

Caught Off Guard: How Inflation Challenges Are Reshaping Retirement in Asia

As the sun sets on years of hard work, retirement is meant to be a time of rest, relaxation, and reward. But for many retirees across Asia, the golden years are proving to be a financial juggling act, especially as inflation continues to bite. A recent survey by Sun Life Asia paints a vivid picture of the challenges faced by retirees in the region and offers a glimpse into the future of retirement planning.

Regrets and Reality: The Filipino Experience

In the Philippines, nearly half of today’s retirees harbor regrets about their financial decisions, with the majority lamenting not saving enough (73%). Others cite unwise investments (47%) or retiring too early (38%) as missteps. These regrets have tangible consequences: one in four retirees finds themselves blindsided by the rising cost of living, particularly healthcare and daily expenses.

The survey, titled Retirement Reimagined: Facing the Future with Confidence, highlights how inflation—markedly higher in the Philippines than the Asia average of 11%—has stretched retirement budgets thin. Many retirees have been forced to cut spending (62%) or turn to family for financial support (48%).

“There is a growing awareness among Filipinos about the importance of financial management to achieve a prosperous and comfortable retirement,” said Carla Gonzalez-Chong, Chief Client Experience and Marketing Officer at Sun Life Philippines. “Financial literacy remains key, and we are committed to this advocacy to help more Filipinos overcome the obstacles and enjoy quality lives in their golden years—just as they deserve.”

The Challenge of Late Planning

Despite these lessons, planning for retirement often starts far too late. Alarmingly, 66% of survey respondents admitted they would only begin preparing for retirement expenses within five years of retirement—or not at all. David Broom, Chief Client and Distribution Officer at Sun Life Asia, warns that this approach leaves many unprepared for the realities of post-work life.

“Our research shows that while independent financial security is seen as the foundation for a rewarding retirement, many people remain unprepared for the realities they face,” Broom said. “Early planning and disciplined saving are key to facing your golden years with confidence.”

The Next Generation: Redefining Retirement

Younger generations, however, are taking note of these challenges and adjusting their expectations. Workers across Asia now anticipate retiring at an average age of 65—seven years later than their retired counterparts. Many cite the need to save more (59%), stay active (59%), and cover increased living expenses (46%) as reasons for postponing retirement.

This shift reflects an evolving understanding of financial independence and longevity. “Ensuring the wellbeing of our growing senior population is a shared challenge in our communities,” Broom said. “We have a unique opportunity to redefine what a secure and healthy retirement looks like and empower people to approach their post-career years with proactive financial planning.”

Gold Star Planners vs. Retirement Rebels

The survey also identified two distinct groups among retirees: the “Gold Star Planners” and the “Retirement Rebels.” Gold Star Planners, who begin planning expenses well ahead of retirement, save more than 10% of their income, and invest in insurance and pension products, are more likely to stay within their budgets and express greater confidence in their health and finances.

In contrast, Retirement Rebels, who lack sufficient planning and insurance protection, often find themselves struggling to adapt. They are more likely to regret their financial decisions and face unexpected expenses in their later years.

Aspirations and Anxieties

For many Filipinos, retirement aspirations remain simple yet profound: spending quality time with family and friends (48%), escaping the daily grind (16%), and traveling the world (14%). However, these dreams are often tempered by concerns about health issues and physical decline (68%), which can derail even the best-laid plans.

A Call to Action

Sun Life’s findings are a wake-up call for individuals across all age groups. As the survey underscores, achieving a secure and fulfilling retirement requires early action, disciplined saving, and professional guidance. For those ready to take control of their financial future, Sun Life offers products like Sun Smarter Life Elite, Sun MaxiLink Prime, and Sun Senior Care, alongside access to trusted financial advisors.

“Retirement is not just a financial milestone—it’s a chance to live the life you’ve always dreamed of,” Gonzalez-Chong said. “With the right planning and support, every Filipino can look forward to golden years filled with joy, security, and peace of mind.”

For more information or to consult a Sun Life advisor, visit www.sunlife.co/TalkToAnAdvisor.

Details provided in a recent press release.

Coffee & Play: Sun Life and Coffee Bean & Tea Leaf Make Financial Literacy Fun

Picture this: the comforting aroma of freshly brewed coffee, the hum of friendly chatter, and a table buzzing with excitement as players strategize their next move in a life-inspired board game. This is no ordinary coffee break; it’s “Coffee and Play,” a unique collaboration between Sun Life Philippines and Coffee Bean & Tea Leaf (CBTL) that infuses financial literacy into casual coffeehouse moments.

Through this innovative partnership, Sun Life is taking its advocacy for financial literacy to new heights by creating an inviting space where people can learn the fundamentals of money management in a relaxed, interactive, and—dare we say—fun way.

“We’re excited to engage even more Filipinos and help enrich their financial knowledge,” shared Carla Gonzalez-Chong, Sun Life’s Client Experience and Chief Marketing Officer. “The enthusiastic response to the Play for Life board game during its launch early this year has inspired us to create more versions to cater to different needs and experiences.”

From Coffee Cups to Life Lessons

The centerpiece of “Coffee and Play” is Sun Life’s original board game, Play for Life: A Game of Choices, designed to mimic real-life financial scenarios. With versions tailored to employees and professionals, business owners, and Overseas Filipino Workers (OFWs), the game offers participants insights into budgeting, investing, and planning for the future—all through an engaging and competitive format.

To bring this initiative to life, select CBTL branches will host game sessions where coffee enthusiasts can sip their favorite brews while making financial decisions in a simulated setting. It’s a blend of education and entertainment that resonates with people from all walks of life.

“Coffee Bean & Tea Leaf is committed to nurturing connections and enriching the lives of our community,” said Kimberly Cruz, CBTL’s Senior Marketing Manager. “Sun Life’s advocacy for financial literacy complements this by equipping individuals with knowledge and tools that lead to personal growth and financial well-being.”

A Coffeehouse for Every Crowd

Each “Coffee and Play” session is crafted with its audience in mind:

Game Night for Employees and Professionals

On November 28, 2024, at The Kitchen by CBTL in Bonifacio Global City, professionals will gather for an evening of gaming, dining, and camaraderie. Beyond the board game, attendees can enjoy exclusive merchandise, raffle prizes, and a chance to network—all while sipping their favorite coffee blends.

Coffee, Play, and Cooking Demo for Business Owners

Business owners will find inspiration not just in financial strategies but also in culinary creativity. On November 29, 2024, Chef Tatung Sarthou will join the session at the same venue, treating participants to a live cooking demo and tips for running a successful food business.

Game Day for OFW Families

In Bacolod, where family ties are cherished, Sun Life will host a special session for OFWs and their families on November 30, 2024, at CBTL in Ayala Malls Capitol Central. It’s a holiday homecoming event that combines financial learning with family bonding over coffee and an exclusive Shine Pinoy travel kit.

Brewing a Future of Financial Wellness

By transforming coffeehouses into hubs for financial learning, Sun Life and CBTL are redefining the way Filipinos approach money matters. The collaboration is a testament to the belief that financial literacy doesn’t have to be intimidating—it can be as comforting as your go-to coffee order.

“Sun Life is always on the lookout for allies who can help us promote our financial literacy advocacy in a more engaging way,” Gonzalez-Chong emphasized. “We are glad to collaborate with Coffee Bean & Tea Leaf to demonstrate how learning about money matters can be a fun and memorable experience.”

For Sun Life and CBTL, the partnership is more than just a series of events—it’s a movement to make financial wellness accessible and enjoyable for everyone.

Follow Sun Life Philippines (@SunLifePH) on Facebook, Instagram, and TikTok for more updates about “Coffee and Play” and other exciting initiatives.

Details provided in a recent press release.

How the Bright Barkada of Sun Life can inspire you to level up your financial game

Let’s face it—adulting is tough. You’ve got dreams to chase, goals to crush, and a future to plan, but there’s one thing that can make everything feel a bit overwhelming: money. You’ve probably heard a lot about financial literacy, maybe even tried to figure out how to budget or save, but where do you even start? The good news is that you’re not alone in this journey. Meet the Bright Barkada—a group of five Gen Z content creators who are here to show you that getting your finances in order can be empowering, fun, and yes, totally doable.

Sun Life Philippines recently introduced the Bright Barkada to inspire people like you to take control of your finances and make smarter money decisions. The group, made up of Dan Yotoko, Elize Mariano, John “JD” Deseo, Cess Tan, and Migo Austria, is on a mission to show how financial literacy helps you live a brighter life. They’re real-life friends who are chasing their dreams while supporting each other—and now they’re inviting you to join them in learning how to turn those dreams into reality, with a little help from some solid financial planning.

So, how can you follow in their footsteps? Here are five important tips you can pick up from the Bright Barkada:

1. Financial Literacy is Key to Adulting

Whether you like it or not, adulting comes with responsibilities—managing your money is one of the biggest. It might seem scary at first, but learning how to handle your finances early on will give you more control over your future. That’s exactly what the Bright Barkada is here to prove. They’re just like you—figuring things out as they go, but with a focus on making better financial decisions.

If you’re feeling overwhelmed, start small. Think of financial literacy as a toolkit that will help you achieve what you’ve always dreamed of, whether it’s starting a business, traveling the world, or just having a stable future. Every little step you take now will count in the long run.

2. Learn From Real-Life Experiences

Dan Yotoko, known as the “Active Runner,” has built his platform by sharing #RealTalkSaglit moments on TikTok, where he opens up about the life lessons he’s learned from his own experiences. And one of the biggest lessons? Managing money is part of building the life you want.

Dan’s story is a great reminder that it’s okay to make mistakes—what’s important is that you learn from them. Maybe you’ve overspent before or struggled with budgeting, but that doesn’t mean you can’t bounce back and improve. Every financial experience, good or bad, teaches you something valuable.

3. Passion Meets Smart Financial Planning

You don’t have to give up what you love to be financially smart. Look at Elize Mariano, the group’s “Beauty Guru,” and Cess Tan, the “Fashionista.” They’re passionate about beauty and fashion, but they know that in order to sustain their passions, they need to be financially savvy. Whether you’re into skincare, makeup, fashion, or any other hobby, you can find ways to balance it with your financial goals.

The trick is to budget for the things you love while still planning for your future. By prioritizing your spending and setting aside money for what matters most, you can enjoy your passions without putting your financial health at risk.

4. Support Systems Make a Difference

One of the best things about the Bright Barkada is how they support each other in their financial journeys. When you surround yourself with people who are also focused on financial literacy, you stay motivated to stick to your own goals.

Migo Austria, “The Smart One,” knows this well. He recently graduated with Latin honors and plans to pursue law—ambitious goals that require both focus and careful planning. With friends like the Bright Barkada cheering him on, Migo is proving that big dreams are achievable with the right mindset and a solid financial plan.

You don’t have to figure out everything on your own. Lean on your friends, family, or even online communities to share tips, advice, and support.

5. It’s Never Too Early to Start

One thing the Bright Barkada wants you to know is that it’s never too early to start learning about financial planning. Whether you’re still in school or just starting your career, the time to start thinking about your finances is now. The earlier you begin, the more prepared you’ll be to handle whatever life throws your way.

Sun Life Philippines has teamed up with the Bright Barkada to show you how financial literacy can help you live life to the fullest. They’ve even launched a video podcast called “Adulting with the Bright Barkada” where they dive deep into their experiences with money and adulting. It’s packed with practical tips, relatable stories, and real talk on how they manage their finances while chasing their dreams.

You can watch the first episode on Sun Life’s official Facebook page and YouTube channel through this link: www.sunlife.co/BrightBarkadaPodcast.

Financial Freedom Is in Your Hands

As Sun Life Philippines Chief Client Experience and Marketing Officer Carla Gonzalez-Chong puts it, “We’re glad to have the Bright Barkada as allies in our financial literacy advocacy. We hope that through the content they will create, today’s generation will be inspired to build bright money habits, learn more about financial solutions, and secure their future.”

So, what are you waiting for? Take the first step toward financial freedom today. Follow @SunLifePH on Facebook, YouTube, and TikTok to stay updated on the latest financial tips and tricks from the Bright Barkada. And if you’re ready to dive deeper, check out Sun Life’s products and services at www.sunlife.co/GettingStarted.

Remember, your future is bright—and with a little financial planning, you can make it even brighter.

Details provided in a recent press release.

Sun Life and Go Negosyo team up to empower Filipino entrepreneurs

Filipino entrepreneurs have long been the backbone of the country’s economy, driving growth and innovation in every corner of the nation. Yet, the road to success for Micro, Small, and Medium Enterprises (MSMEs) is often fraught with challenges that can be difficult to overcome. To address these hurdles, Sun Life Philippines and Go Negosyo have joined forces in a strategic partnership aimed at empowering Filipino entrepreneurs and securing their future.

Tackling Entrepreneurial Challenges Head-On

Running a small business in the Philippines comes with a unique set of challenges. Access to capital is one of the biggest obstacles, with many entrepreneurs struggling to secure the funds they need to start or expand their businesses. Traditional financing options often come with stringent requirements that MSMEs find hard to meet.

Another major challenge is financial literacy. Many entrepreneurs lack the knowledge and skills needed to manage their finances effectively, leading to issues like poor cash flow management, inadequate savings, and difficulty in making informed financial decisions. This gap in financial knowledge can severely limit the growth potential of their businesses.

Risk management is also a critical concern. Small business owners often overlook the importance of insurance, leaving their businesses vulnerable to unexpected events such as natural disasters, health emergencies, or economic downturns. Without adequate protection, these unforeseen challenges can threaten the survival of their enterprises.

The partnership between Sun Life and Go Negosyo aims to address these challenges by providing comprehensive support to MSMEs. Through this collaboration, Sun Life will offer tailored financial solutions that are designed to meet the specific needs of small business owners. These solutions include easier access to capital, insurance protection, and expert financial planning services that can help entrepreneurs navigate the complexities of managing their businesses.

Press Release - Sun Life x Go Negosyo Partnership 03 — Thermina Akram, Go Negosyo Executive Director; Joey Concepcion, Go Negosyo Founder, Carla Gonzalez-Chong, Sun Life Philippines Chief Client Experience and Marketing Officer; and Cary Casipit, Sun Life Philippines Head of Client Segments Marketing

A Strategic Alliance for a Brighter Future

Sun Life Philippines, a leader in life insurance, and Go Negosyo, a prominent non-profit organization dedicated to promoting entrepreneurship, have come together with a shared vision: to create a thriving ecosystem where Filipino entrepreneurs can succeed and reach their full potential.

As part of this collaboration, Sun Life will play an active role in Go Negosyo’s 3M on Wheels program—a mobile entrepreneurship caravan that travels across the country to bring business support services directly to MSMEs. At these events, Sun Life financial advisors will be on hand to offer financial consultations, helping entrepreneurs to future-proof their businesses and align their personal financial goals with their entrepreneurial ambitions.

Additionally, the partnership includes the introduction of innovative tools such as the “Play for Life: A Game of Choices” board game, which Sun Life presented to Go Negosyo. This game can help business owners by imparting valuable financial literacy lessons in a fun and engaging way. By gamifying the learning process, Sun Life hopes to make financial education more accessible and relatable for entrepreneurs.

Sun Life Play for Life Board Game — Sun Life Play for Life: A Game of Choices Board Game

Empowering Entrepreneurs to Thrive

Through this partnership, Sun Life and Go Negosyo are not just addressing the immediate needs of Filipino MSMEs but are also laying the foundation for their long-term success. By offering access to capital, enhancing financial literacy, and providing robust risk management solutions, the collaboration is set to empower entrepreneurs to overcome the challenges they face and build sustainable, resilient businesses.

The partnership underscores a commitment to nurturing the entrepreneurial spirit in the Philippines. With the combined resources and expertise of Sun Life and Go Negosyo, Filipino entrepreneurs are better equipped to navigate the complexities of business, secure their future, and ultimately contribute to the growth of the nation’s economy.

For Filipino entrepreneurs looking to take their businesses to the next level, the partnership between Sun Life and Go Negosyo offers a beacon of hope and a pathway to success. By leveraging the support and resources provided through this collaboration, MSMEs can look forward to a brighter, more prosperous future.

To know more about Sun Life’s products and services for business owners, visit
sunlife.co/entrepfinancialplan or talk to a Sun Life Financial Advisor today.

Details provided in a recent press release.

Playing for Life with Sun Life: Adopting Sound Personal Finance Strategies for a Lifetime

Imagine navigating life’s financial decisions like a strategic game. That’s the essence of “playing for life”—making smart choices to ensure long-term financial stability and growth. For some of you guys in Gen Z, balancing income, investments, and other financial priorities can feel overwhelming. But what if you could take control of your financial journey in a fun and engaging way?

Let your Tita Jellybeans shed some light on this and share some of my own experiences.

Strategies to Play for Life

Manage Your Resources

Think of managing your money like playing a resource-management game. In my case, creating a budget was my first step towards financial control, setting spending limits and regularly adjusting them as my financial situation changed. This approach helped me avoid unnecessary expenses and prioritize savings.

Build a Survival Kit

An emergency fund is like your in-game survival kit. My first financial goal was to save three months’ worth of living expenses. Automating transfers to a separate savings account ensured I stayed on track. This fund became a lifeline during unexpected events, such as medical emergencies, providing me peace of mind and a sense of financial stability.

Defeat the Debt Boss

Take it from me: conquering debt can feel like defeating a powerful game boss. I found it best to prioritize paying off high-interest debts first, which significantly reduced my financial burden over time.

Avoiding new debts and focusing on paying off existing ones is crucial in my journey toward financial freedom, so you can bet I sometimes hide my credit cards during peak shopping season.

Invest in Power-Ups

Investing is like collecting power-ups that boost your abilities in a game. You might hear this all the time but it is best to start early. It will enable you to benefit from compound interest, significantly growing your investments over time. Diversifying your portfolio will also reduce risks and maximize returns.

Prepare for the Endgame

Planning for retirement is akin to preparing for the inevitable endgame. I’ve seen firsthand how something you may be counting on from your work or family may just disappear into the void. Anticipating your future needs and making regular contributions to retirement accounts are some of key steps I would recommend as you prepare for your future.

Sun Life is Your Partner for Life

Still find yourself at a loss at game of personal finance?

Fortunately, Sun Life aims to equips individuals like you with the tools and knowledge needed for lifetime financial security and healthier lives. Its latest initiatives emphasize financial literacy through gamification, making learning about finance engaging and accessible to more Filipinos, especially those in younger generations.

Play for Life Online Game

Sun Life’s new game, Play for Life: A Game of Choices, mirrors real-life financial decisions. Launched in June 2024, this single-player online game allows players to achieve life goals by making strategic financial and life choices. From selecting a career to navigating life’s ups and downs, the game offers a realistic financial journey that ends with players accumulating enough play money to reach their goals. Want to play it with your squad? Take heart: a multi-player version of the game is set to launch soon.

Know more about it here.

Play for Life Boardgame

At a recent media conference held at Conrad Manila, I had the chance to try a more immersive, table-top boardgame version of Play for Life: A Game of Choices. Together with fellow attendees, I chose characters (such as a teacher or a BPO agent) and rolled the dice which led to life decisions (such as having a baby or investing in education) or circumstances (such as medical emergencies) that have either short-term or lasting impact on my finances which, in turn, affect how I get to achieve a financial goal. The experience was enlightening, demonstrating how financial decisions impact our lives. Through the gameplay, I gleaned insights from my decisions as well as from fellow players.

During this event, Sun Life unveiled its latest digital video commercial featuring celebrity ambassadors Piolo Pascual, Sarah Geronimo-Guidicelli, and Matteo Guidicelli playing the board game. They also shared their experiences and learnings from the game and from their real-life experiences, making the event both informative and enjoyable.

The good news is that you can experience this table-top version of the boardgame. All you need to do is visit your nearest Sun Life branch. A Sun Life Financial Adviser can serve as your game master and guide you through your game play.

Life-Size Game Tour

For those seeking an even more interactive experience, a life-size version of Play for Life will be touring select areas around the country. You can navigate giant game boards and make real-life choices at these locations and dates:

SM Sta Rosa from July 27 to 28, 2024
SM Lanang in Davao from August 24 to 25, 2024
SM Iloilo from September 14 to 15, 2024

Table-top boardgame versions will also be available during these activations, so you can play it with your family and friends.

Travel and Giftaway Vouchers Up for Grabs

Have an existing Sun Life policy? You can get a chance to win a Php100,000 travel voucher to Japan or Giftaway vouchers worth up to Php10,000! All you need to do is play the Play for Life game by participating in any of the mall activations or playing online, then submitting the form at the end of the game. Winners will be drawn up among eligible Sun Life clients via an electronic randomizer. Promo runs until October 31, 2024.

Know more about this promo for clients here.

Non-Sun Life clients also have the chance to win a trip for two to Vietnam or Giftaway vouchers worth up to Php10,000. Just play the online version of Play for Life and fill out the “Double the Pot” form. Winners will be selected via a raffle draw among eligible entries, and announced on September 18, 2024.

Know more about this promo for the public here.

“Rank Your Money Moves” on TikTok

Sun Life has also launched an interactive TikTok filter called “Rank Your Money Moves.” This gamified filter lets you rank your priorities such as love life, food, and travel, providing a fun financial personality type based on their choices. Trying out the filter was a fun way to reflect on your financial priorities and gain new insights.

Try it out here.

It’s time to turn your game plan into actual moves towards financial freedom. Consult a Sun Life advisor to create a personalized financial strategy or visit Sun Life’s website for more information. By taking proactive steps today, you can secure a brighter and more stable financial future.

So my dear young ‘uns, embrace the game of life with confidence and strategy, and let Sun Life be your partner in achieving financial success.

Check out my previous posts about financial freedom:

Check out my posts about Sun Life:

#HealthIsWealth: How your physical well-being impacts your finances

Rebooting your finances: How to restart your financial journey

How freeing yourself from money worries lets you #LiveLifeBrighter

What is the Bucket Method in Savings and How Can It Help You Achieve Your Financial Goals?

There is a wide variety of methods or techniques you can use to grow your wealth. It can be as simple as keeping loose change in a piggy bank or as complex as investing in stocks. However, if you’re looking for an efficient way to achieve your financial goals, consider using the bucket method. This approach to saving and managing money involves dividing funds into separate “buckets” based on specific goals, time frames, or purposes. It’s a flexible money-saving strategy that works for short-term, medium-term, and even long-term goals.

Moreover, starting and managing your savings is now easier than ever. With many digital banks offering accessible online savings bank account products, you won’t have a difficult time divvying up your funds into buckets. For instance, Maya has a Personal Goals feature that lets you organize your money and monitor your savings via the Maya app. You can create up to 5 goals at a time that can last for up to 180 days and each goal earns a guaranteed 4% interest p.a. monthly, which is higher than most traditional banks. As a result, it’s an ideal tool for the bucket method.

That said, while the process of the bucket strategy is easy to comprehend and execute, you might be wondering how effective it might be. To give you a better picture, here’s a closer look at the bucket method and the ways it can help you achieve your financial goals:

Tailored Investment Strategies

One of the significant advantages of the bucket method is the ability to tailor investment strategies according to the time horizons and risk tolerances associated with each financial goal. This strategic allocation not only maximizes the growth potential of your savings but also ensures that you have the necessary funds available when you need them.

Enhanced Organization and Clarity

Because the bucket savings method segments your money into distinct categories, you get a clear roadmap for your finances. This segmentation allows you to see exactly how much you have saved for each purpose, making it easier to track your progress and stay focused. What’s more, this delineation eliminates the ambiguity that often accompanies a single, undifferentiated savings pool. As a result, your financial situation will be more transparent and easier to understand.

Furthermore, the bucket method can reduce the stress associated with financial management. Since it gives you a clear and organized picture of your financial goals, you’ll have a more positive attitude towards saving and investing. This ultimately boosts your confidence in your financial planning abilities.

Efficient Resource Allocation

With the bucket method, you allocate funds based on the priority and urgency of each goal. This ensures that your most critical needs, such as an emergency fund or short-term expenses, are fully funded first. Once these essential needs are met, you can focus on medium- and long-term goals. This prioritization helps prevent the misallocation of resources and ensures that you’re adequately prepared for both immediate and future financial needs.

Additionally, the bucket method prevents your money from sitting idle in low-interest accounts where it doesn’t grow significantly. By actively managing your buckets and choosing the right investment vehicles, you ensure that your money is working towards achieving your goals. This approach helps you build wealth more effectively than simply leaving all your funds in a single account with minimal returns.

Improved Financial Discipline

The bucket savings method helps you create a structured framework for saving and spending, which helps you develop and maintain good financial habits. In particular, when you have dedicated buckets for specific goals, you’re establishing clear boundaries for spending. Knowing exactly how much money is available for each purpose also reduces your likelihood of overspending in one area at the expense of another.

In addition, the bucket method also inherently encourages setting and achieving financial goals. Each bucket represents a distinct objective, such as building an emergency fund, saving for a major purchase, or investing for retirement. This goal-oriented approach helps you stay focused and motivated, as you can see progress towards each target. Moreover, the bucket method encourages you to regularly review and adjust your strategies to ensure you remain on track with your goals. This ongoing assessment promotes financial discipline. By regularly reviewing your progress, you can identify any shortfalls and make necessary adjustments to your contributions or spending habits. This proactive approach ensures that you’re continually working towards your financial objectives.

Promotes Financial Literacy

Apart from helping you manage your finances, the bucket method also enhances your financial literacy. It provides a practical, experiential way to learn about personal finance. As you manage your buckets, you gain firsthand experience with financial planning, budgeting, and investing. This experiential learning is often more impactful than theoretical knowledge, as it involves real-life application and consequences. This ongoing engagement also fosters a deeper understanding of your financial situation and the factors that influence it.

Whether you’re saving for emergencies, planning for retirement, or pursuing other objectives, using the bucket method can help you reach your financial goals. This strategy offers a practical and effective approach to managing your money, empowering you to take control of your finances and build a secure financial future.

Header image by Lifestylememory on Freepik

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!

Header image by pressfoto on Freepik

Sun Life Philippines welcomes Sarah Geronimo as brand ambassador

Sun Life Philippines recently announced that Asian Popstar Royalty Sarah Geronimo has joined its esteemed roster of brand ambassadors. Sarah, along with her husband Matteo Guidicelli, a long-time Sun Life brand ambassador himself, will be at the forefront of Sun Life’s latest campaign, titled “Partner for Life.” This campaign highlights the significance of having someone who can help us achieve our financial goals, live a healthier life, and be the best version of ourselves.

Sarah Geronimo as Sun Life’s newest ambassador

Aligning Values and Empowering Filipinos

“We are delighted to welcome Sarah Geronimo to the Sun Life family. Her values align with ours, and we are incredibly excited to have her as a partner in furthering our advocacies on financial literacy, health and wellness, and sustainability,” said Carla Gonzalez-Chong, Chief Client Experience and Marketing Officer at Sun Life. “Sarah’s journey as an empowered woman taking control of her career, businesses, health, finances, and advocacies is truly inspiring. Her continuous eagerness to learn and find support from her loved ones makes her a perfect ally of Sun Life in encouraging more Filipinos to pursue their own version of a brighter life.”

Captivating Thematic Video and Heartfelt Jingle

As part of the campaign, Sarah and Matteo have collaborated with Sun Life to create a thematic video that embodies Sun Life’s promise of being a Partner for Life. Their genuine support for each other shines through in the video, which will be aired on national television and showcased on Sun Life’s social media platforms (@SunLifePH on Facebook, YouTube, and TikTok).

Moreover, Sarah lends her voice to the new Sun Life jingle titled “Kasa-Kasama,” a delightful duet with Inigo Pascual, who co-wrote the song and is also part of the Sun Life family. The jingle serves as a lighthearted yet heartfelt tribute to one’s Partner for Life and will be shared through Sun Life’s social media channels and played on select radio stations nationwide.

Digital and On-Ground Activities to Promote Financial Security

To further amplify the campaign and encourage more Filipinos to secure the future of their loved ones, a series of digital and on-ground activities will be organized.

Sun Life’s Advocates

“I am happy and thankful to be part of the Sun Life family,” expressed Sarah.

In addition to Sarah and Matteo, Sun Life has Piolo Pascual and Donny Pangilinan as clients and advocates of financial literacy and health and wellness.

“We are grateful to have the support of our brand ambassadors in advancing Sun Life’s purpose,” stated Gonzalez-Chong. “We feel privileged that they have chosen to partner with Sun Life to help more Filipinos pursue lifetime financial security and live healthier lives.”

About Sun Life

Sun Life is a leading international financial services organization that provides asset management, wealth, insurance, and health solutions to individual and institutional clients. With operations in numerous 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, Sun Life manages total assets worth $1.36 trillion as of March 31, 2023. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. is listed on the Toronto (TSX), New York (NYSE), and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Details provided in a recent press release.

Sun Life and Smart renew partnership to promote financial literacy among cooperatives

Sun Life Philippines (Sun Life), the country’s leading life insurance company for 12 consecutive years, has renewed its strategic partnership with Smart Communications, Inc. (Smart). The aim of this partnership is to enhance financial literacy among cooperatives affiliated with Smart.

Expanding the Program’s Coverage

The renewed partnership between Sun Life and Smart will broaden the program’s reach by conducting financial literacy trainings for cooperatives in various locations, including Benguet, Bulacan, Cavite, Cebu, Davao, Iloilo, and Metro Manila throughout the year. This expansion seeks to empower more cooperative members by providing them with essential knowledge about finance and its relevance to their industry.

Building on Previous Success

Sun Life and Smart are committed to surpassing the achievements of the program in 2022. Last year, the initiative successfully engaged and educated nearly 500 cooperative members on finance fundamentals. The partners aim to build on this momentum and continue empowering Filipinos to pursue their financial goals.

Advocating Financial Literacy

Sun Life has always been a strong advocate of financial literacy, recognizing its crucial role in leading individuals to a brighter life. With the renewal of the partnership with Smart, Sun Life President Alex Narciso believes they can further elevate their efforts and empower more Filipinos to achieve financial independence.

“Sun Life has always been a staunch advocate of financial literacy as we believe it plays a key role in achieving a brighter life. We are always looking for ways to elevate our efforts and help empower even more Filipinos to pursue their financial goals. I believe the renewal of our tie-up with Smart can help us do that,” Sun Life President Alex Narciso said.

Empowering Cooperatives through Financial Literacy

Cooperatives play a vital role in their respective communities and contribute significantly to the country’s economy. Recognizing their importance, Smart is committed to empowering these cooperatives through financial literacy and digitalization. By renewing its partnership with Sun Life, Smart reaffirms its commitment to supporting its partner cooperatives and providing them with relevant solutions.

“Given the key role that cooperatives play in their respective communities and in our country’s economy as a whole, it is important to empower them through financial literacy and digitalization. Through the renewal of this partnership with Sun Life, we are doubling down on our commitment to support our partner cooperatives and help provide them with relevant solutions,” FVP and Group Head of Smart Go-To Market and Subscriber Management Melvin Nubla said.

Joining Forces for Financial Empowerment

The collaboration between Sun Life and Smart represents a collective effort to promote financial literacy and empower Filipinos in their journey toward financial independence. As part of this endeavor, Sun Life encourages individuals to stay updated on the program and other initiatives by following @SunLifePH on social media platforms such as Facebook, Twitter, Instagram, and TikTok. To learn more about Sun Life and its products, visit its website at www.sunlife.com.ph.

Details provided in a recent press release.

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.