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Financial Priorities: Starting the Year Right with the Correct Investment

The New Year has finally landed and you are given the option to either make it big or not this year. If your previous year has been a very bountiful one then good for you, at least you were lucky enough to raise your savings and accomplish your recent resolution, something that most, if not all, has a hard time achieving even once or twice through their lives. If your recent year has been a downer, whatsoever, no need to feel bad about it, as this would only mean that you have more chances of accomplishing it this year. 2020 marks a new beginning, a new year, a new decade, and a fresh start for your investments. Speaking of which, have you already thought about expanding your horizons this year? Have you already planned out on which venture you’re bound to invest your savings from the previous years? The thing about 2020 is that many companies and institutions are hoping to expand. If you happen to have the right amount, investing in one of them would land you a good regular income. If that’s not your thing, however, and you decide to go solo and invest on something that you can solely capitalize on, then these following ideas and recommendations may just be the right ones for you:

1. A small business

This is always the first option when it comes to proper investments. Now, you may ask, “Why is it just a small business? If I have the money, why don’t I establish a big business model right away?” Well, you have a point, indeed, you may have the appropriate savings to go big from the very beginning. Everyone wants to earn big right away, so starting big would mean getting back something big as well in return, right? Well, that would actually be unwise. Any business consultant and professional would tell you to establish it small first. Yes, risk is always part of a business venture, but there are also appropriate risks which should be taken at the right time. Taking on a big risky business model right away without any Plan B would be too disastrous for your funds if things do not go according to plan. This is true, especially for beginners. Big risks doesn’t always equate to big success. After all, there’s a reason why it’s called a “risk” in the first place. Start out small, test the waters, gain experience, and once you’ve found solid ground and foundation for your business model, increase your venture, slowly but surely. Be wise about every step. You can also secure your business MicroBiz Protek, a microinsurance product for only P540.

2. An insurance plan

One of the best investment that you may give both to yourself and to your loved ones would be an insurance plan. In the Philippines, there is a negative belief that getting an insurance plan would mean that you are either inviting accidents or something worse into your everyday life. That is a common misconception and should not be believed at all. An insurance plan is a wise investment, as it would cover any expense that may arise, just in case something unfortunate would happen. The thing is, in spite of our alertness and vigilance, accidents and calamities may still happen. Most of the time, it’s not even our fault, we just end up in the wrong place at the wrong time. In such case, avail an insurance plan that may cover accident, illness, death, property damages, etc. so that you wouldn’t have to spend too much on the expenses. These occurrences cost a lot, and insurances would cover them, enabling you to cut cost and save for the foreseeable future, may it be for needs or wants. You do not even need to avail the most expensive premium, as there are insurance plans which are flexible enough to fit your current budget. Feel free to discuss further with authorized insurance personnel to know more about your options. This may not seem like a proper way to double or triple your money, but think about it, wouldn’t it at least save you hundreds and thousands? Wouldn’t that be equivalent to earning money as well in the long run? For personal insurance, you can check out Protectmax, a microinsurance product designed for individuals aged 7 to 70 years old.

3. House funds and savings

Everyone wants to own a house. You may be thinking of buying a plot of land for your family, and even planning on having a well-structured home on top of it. The thing is, these would require huge amounts. If you happen to win the lottery one day then all of your troubles are now gone. Congratulations! But that certain type of luck doesn’t really come to people like drops of rain on a bad weather. Most, if not all, have to work really hard in order to have enough for a home, a house and lot that they can shelter their loved ones in. For the most part, it would take countless years in order to attain a completely made and furnished home. It takes decades for the average Filipino to even own a house under their very own name, let alone, the whole plot of land itself. The good thing is, there are stutter payment options for Pinoys who would like to invest a part of their earnings each month towards a home developer. There are flexible choices out there, allowing people to either invest monthly or annually from their very own pockets. Yes, it would still take years and years of investing to finally own a house, but think about this, the younger you start, the quicker you’d have that house well-invested enough to be ready by the time you’re into your mid-30’s or 40’s. Some would even plan it out as a retirement option, so after they quit and acquire their pension, they’d just simply settle down in their home and enjoy the benefits of their long tenure. If you want to build your own house now, you may be interested to avail of Cebuana Lhuillier Bank Home Loan.

4. A Micro Savings account

For those who are not familiar with Micro Savings accounts, they are basically “a branch of microfinance, consisting of a small deposit account offered to lower-income families or individuals as an incentive to store funds for future use. Microsavings accounts work similar to a normal savings account, however, are designed around smaller amounts of money.” Since they are designed to cater “around smaller amounts of money,” they have a much simpler list of requirements, which means they are more accessible than your average bank account. Believe it or not, recent data has shown that not all Filipinos have a bank account of their own. Understandably, it is due to the complicated list of requirements by well-known banks around the Philippines, thus, making it too intimidating for the average Filipino. Micro savings aren’t like that. They are simpler, more accommodating, and easier to manage than normal bank accounts. With all of these in mind, you may be looking for a well-trusted name that would safely value the security of your hard-earned money. Well, look no further than Cebuana Lhuillier’s Micro Savings services. At its core, it aims to provide easier banking access to Filipinos. The product is almost the same with any regular savings account in the Philippines, but doesn’t require a maintaining balance. So what are you waiting for? Feel free to visit the nearest Cebuana Lhuillier now!