Money Habits for a SmartStart, #HabangBataKaPa

Sige lang, #WeGotchu! During FWD FinLit Live!, our livestream series on financial literacy, we asked Millennials and GenZs from practically-oriented online communities—Tipid Hacks PH's Donna Beltran Lozarita, Solo Living PH Hub's Aubrey Rhose Buenaventura and Dion Ramirez,and Filipino Homebased Moms (FHMoms)'s Ely Sitchon — to share the personal money moves that have worked best for them. They are also joined by FWD's Camille Jimenez and host CJ Villavicencio.

Life Shifts and Financial Surprises

We all go through life shifts: student life to first job, child to solo renter, weekly allowance to monthly bills.

Each stage brings new and different priorities, as we adjust our attitudes along with our money habits. Earning for ourselves, we also learn—to make our own financial choices and live with their consequences.

“There are so many options pala. I was raised with the traditional mindset, that the formula for success is ‘mag-aral nang mabuti, maghanap ng magandang trabaho (study hard, look for a good job). It doesn’t work that way pala. It’s surprising and at the same time, liberating. I don’t need to limit myself with just one path,” shares Aubrey Rhose Buenaventura, who switched from accounting to digital marketing after founding Solo Living PH Hub.

For Dion Ramirez, who lives on his own while juggling studies and gaming content creation, moving out means owning his decisions: “It’s all under my control now, especially finances and my emotional capability to handle everything at once. Ako na yung may hawak ng wheel ng buhay ko (I hold the steering wheel). Anything I do creates a huge impact on my life.”

Starting a family is a big change too, as Ely Sichon of Filipino Homebased Moms and Donna Beltran Lozarita of Tipid Hacks PH realized.

“I have two boys, [which] comes with the realization na kada galaw mo, may bayad (every move you make, you pay). So, I started on the journey of ‘hanggang saan aabot ang one thousand mo? (how far can your P1,000 go?)’ They say from three days to two weeks... but with Tipid Hacks PH and FWD, I can easily stretch it to two weeks,” proudly reveals mommy Ely.

“I was surprised with my ability to navigate the transition, from career-driven to mainly a mom. Mag-iiba na ang priorities at perspective. Na surprise ako sa mental and emotional strength ko, na ‘kaya ko pala!’, says Donna, grinning from ear to ear.

All guests also credited the online communities they founded. For sure, emotional support – friends to chat, share finds and occasional struggles with – makes any financial journey easier.

Bills, Budols and Money Hacks

As guests shared their personal money strategies, we polled our viewers from their online groups for their top three. Here’s what they shared:

1. Track your expenses.

This is the top tip from founders and community members alike: to keep more of your money, track where it goes. Spreadsheets, budgeting apps, or good old pen and paper all have their fans. But we are all different, and Aubrey found her own approach.

Here are more ways where being intentional about spending can stop us from being #vulnerabudol:

“Naka target lock ka na sa isang item, 100% buo na yung loob mo na bibilhin mo sya. Syempre maraming dumadaan na sale (You’re 100% target-locked on one item but of course, there are still many options), but choose wisely when to buy. That’s how we do it in our group. The moment mag-drop ang price ng hinihintay mo, grab na.” - Donna

“Ayoko talagang bumili ng full price. Hintay lang. If it’s a want [not a need], definitely di mo naman yan kailangan ASAP.” - Dion

“OG hack: Do your groceries when you’re full. Lagi akong kumakain before mag-grocery, just to make sure na hindi ako ma-tempt bumili ng di ko rin naman kakainin later (I always eat before grocery-shopping just to make sure I don’t attempt to buy things I won’t eat later).” – Aubrey

Of course, our guests all carefully track their vouchers, discounts and credit card points. All these have their detailed inclusions, coverage and expiry dates, and you can save a lot when you use them well.

2. Have an emergency fund.

If there’s one lesson we can all take from COVID, it’s the need for an emergency fund of a significant amount, at least a few months’ earnings.

For the self-employed, this can be tough. But it’s especially necessary. It’s tempting to “borrow” from your fund or put off adding to it. But think of that fund as a buffer, to keep you out of debt quicksand that can take years to climb out of.

3. Set a savings goal and stick to it.

Many of us work better with a target and timeframe. Identify your personal targets (how much you need, by which date) and focus. Otherwise, you might find the money you’ve carefully saved goes to things that don’t move you any closer to your goals.

Visualize your future

Have you ever had the money, but not the mindset? For those of us who are visual learners, Mommy Ely shares her annual “best practice” that helps her clarify goals and stay on track.

Here are some ways to make your vision board:  

1. Make a collage of all your dreams and targets on an actual board, and hang it where it can give you the morale boost you need.
2. Make a digital version and use it as your phone or laptop wallpaper. Seeing it before you log in to your shopping apps might help!
3. Assign a special journal for your dreams and targets – and your financial moves to reach them.

Making financial choices for the long term, especially while you're young, is a must for a secure future. “But I have lots of time,” you might say. Sure. But we’ve found that finances are a lot like levelling up in a game: the sooner you start, the more powerful you can become. By learning from others’ experience, using effective money hacks, and sticking to clear goals, you can start your journey to financial stability even at a young age.

For so many of these purposes, insurance can be a big help. “My smart move is to have insurance, to break the chain for the next generation. I don’t want to be a burden for my son when I get old,” says Donna. “Make sure you have something to enjoy when you retire. Let your money work for you.”

FWD SmartStart investment-linked insurance provides life coverage, accident protection and the opportunity to grow your money through investing in local and global funds. Optional critical illness coverage can ensure you have financial support when you need it. It’s also remarkably affordable, starting at PHP1,800 a month.

So, what are you waiting for? Start your financial journey today and build a future you're excited about! Book a session with an FWD Financial Advisor and find out how you can get started.