The pandemic has affected every aspect of our lives, including our family’s financial foundation, but it is with progressive financial security that we can restore our livelihood, prepare for unexpected events and illnesses, and build a better future for each member of the family. It is also a great way to shape the children’s mindset and behavior toward financial management so they can make wise decisions and prudent goals as early as now.
This was the main topic of discussion of GCash Money Talks: “Pag-invest para sa pamilya, G pa rin!,” a webinar that aired recently on GCash’s Facebook page. The episode featured guest financial expert, author, and motivational speaker Brother Bo Sanchez who discussed the importance of putting money to a better purpose while sustaining your family’s future needs, and how to do it conveniently. Celebrity parents, actor and entrepreneur Juancho Trivino, and Brilliant Skin Essentials CEO Glenda Victorio, also shared their experiences as first-time parents on finding more ways to support their families.
Getting started with investing
Brother Bo starts off convinced with a refrain you’ll mostly hear throughout the seminar: Increasing your income. “There are ways you can find a part-time job if you want to have multiple streams of profit,” he says. “In that way you can set aside 20 percent to invest.”
Juancho has been living with this mantra ever since his college days to ensure a successful business, but now that he’s a dad, his goals have shifted to future-proofing his family’s security using investment. “Diversifying my income and learning how to invest it is a priority of mine so I can grow my franchising businesses, and in turn, keep my family afloat,” he says.
Brother Bo agrees the key to successful investment is to set a goal now, whether you’re still planning to have a family or you’re already part of a full-grown household. “You can move up with every decision you make in the present. If you’re still single, you can start developing financial habits that you can apply to when you’re married,” he says. “Calculate the potential impact of your investment on your family’s needs in the future, including education, house, car, and emergency funds.”
For lady boss and supermom Glenda, your investing goals should be realistic. “Start small if you have to. Slow and steady beats instant returns,” she says. “Also calculate the risk and do your due diligence first before investing.”
Having said that, Brother Bo quickly adds children are not a retirement plan. “You can grow old and grow rich through your own funds if you would try to live on 70 percent of your income for now,” he shares. “If you find budgeting complicated, go with the ‘envelope system’ and divide your expenses. Investment eventually imbues a sense of frugality when it comes to budgeting.”
Easy investing at your fingertips
The good thing about investing nowadays is the rise of digital solutions that offer convenience and access for those who want to try it even with limited knowledge.
One of these is GInvest, the first-ever digital investment platform on GCash that allows Filipinos as young as 18 years old and with a valid ID to start growing their money with just a tap on the app. “It is a great way for parents to invest without minding paperwork and tedious tasks that are usually required when opening funds, so it won’t get in the way of our busy lives,” Brother Bo says. A fund manager, from ATR Asset Management Group (ATRAM), an established investment firm, will do all the work for you, including strategizing your account and investing your money in different assets.
The beauty of GInvest lies in its simplified process of investing that gives you all the right information about different funds you can avail of with just P50, perfect for first-time parents with limited capital. For Brother Bo, his favorite feature of the platform is the option to allocate his asset to the international Global Feeder Fund for just P1,000, as opposed to stocks abroad that require a minimum of a thousand dollars. As investment being an emotional and financial activity, he suggests taking a risk assessment profile on the app first to determine if you’re a conservative, moderate, or aggressive investor.
Finally, back up your GInvest journey with a long-term perspective. It can help you keep up with the timeframe as you progress through the months with money coming in and out of your pocket. “It is the primary element you need to be successful,” Brother Bo says. “Sacrifice today and delay gratification. If you have this attitude, you will be able to diversify your funds with GInvest and harvest them for the sake of the family’s future.”
Even with uncertainties we’re facing every day, GCash and GInvest will continue paving the way for Filipinos to get in the habit of saving and growing their money through investments easily, so you can say “G pa rin!” to life.
GCash Money Talks is a series of webinars hosted by the leading mobile wallet in the Philippines aimed to help customers, like parents and family-oriented individuals, to invest while preparing for their children’s future and retirement plans.
You may watch the full episode here. To learn more about the GCash Money Talks and more information about GInvest, you may visit GCash’s Facebook page,https://www.facebook.com/gcashofficial/.
