Need Help In Achieving Your Ipon Goals? Parents Recommend Investing In These Tools (One Is Free)

If you've seen the Netflix series How to Be Rich, Ramit Sethi intervenes in the lives of several people and helps them achieve the rich life they want. But before he does that, he asks them first, “What is the rich life for you?” 

A rich life may mean a new house, a debt-free life, a stress-free mind, or an abundant lifestyle. There is no right or wrong answer, but in all circumstances, achieving your rich life requires handling and communicating your finances well.

Now that we are in a post-COVID era, many of us have become more mindful about how we should save money, especially when our families experience the loss of a job or a loved one. 

Tips on how to achieve your ipon goals

But how do we really start with our #IponGoals? It may seem overwhelming to start, but the best way is to simply begin.

1. Tap to the Real Source

Mommy Gracie Miranda-Maulion of Tipid Mommy is a well-known advocate to millions of moms, especially after sharing her experiences and learnings from her financial mistakes. She always reminds her readers to "Tap to the Real Source."

The mom behind the Facebook page with over 1 million followers explained, "During a financial crisis, our business closure and job loss, there is one thing we've realized, these resources are all temporary. Jobs and businesses are just God's channels but He is the blessor behind them, He is the real Source."

"So we've decided to live in faith that even though it doesn't look clear yet, we hold on to God that He will provide and restore everything we've lost," she wrote on her blog.

2. Put aside 3 to 6 months expenses and save it as your emergency fund

An emergency fund can help you avoid going into debt or experiencing financial hardship when unexpected expenses arise. Knowing you have a financial safety net can also give you peace of mind.

Remember that saving for something, like a home renovation, should be separate from saving for an emergency fund.

3. Invest in health and life insurance

We can feel secure in sickness and life accidents when we have health and life insurance.

When choosing health and life insurance, it's essential to carefully consider your needs and budget. Look for policies that provide adequate coverage at a price you can afford. Get started here.

4. Eliminate debt

There are two types of debt: good and bad debt. Good debt helps you increase your wealth. For example, you use loans to grow your business. Bad debt costs you money with high interest that depreciates your assets. A home mortgage or a student loan may be an example of good debt, as it will help you along the way. Cars and shopping credits that don't add value to your asset are examples of bad debt.

When you have built a steady emergency fund and insurance, you can start eliminating your debt by paying a mortgage or other loans that you may have had. 

5. Start investing for your future

Choose a mix of investments that align with your goals and risk tolerance. Investing is a long-term process. Options may include investing in stocks, bonds, mutual funds, or real estate investment trusts (REITs), starting a business, or investing in PAGIBIG MP2. Consider diversifying your portfolio to spread out risk across different investments.

6. Give back to the community and tithe

Once you have achieved your financial goal, help others find their financial security by mentoring others, giving back to charitable organizations, volunteering your time, and donating to your community. Remember, when abundance is shared, the resources will multiply even more. 

In addition, whatever your religion or belief is, paying tithes is the tenth part of your income. This demonstrates our reverence for God's provisions. I have practiced tithing since I was young, and it helped me realize that I am entrusted and a steward of the resources that are not mine. 

Tools to help you save and achieve your ipon goals

Parents recommend these helpful tools that encourage and enable them to save.

1. Chinkshop Official Piso Planner with 4 Diary Books by Chinkee Tan (Php 450)

This is the best-selling book bundle of Chinkee Tan, which consists of 4 diary books: Diary of a Pulubi, My Badyet Diary, My Utang-Free Diary, and 1 Chink Piso Planner.

With a handy book you can read anywhere, you'll feel motivated to achieve your ipon goals. The bundle comprises trackers for income and expense, ipon challenge, a due date list, and a budgeting system. 

Buy it on Shopee here. 

2. My Negosyo Diary Book Chinkshop Official (Php 190)

Another best-selling book that you can also buy is My Negosyo Diary, where you can learn to adopt an entrepreneurial mindset and start and grow your business.

Buy it on Shopee here.

READ ALSO: Heto Ang Mga Kailangan Mong Gawin Bago Mag-Add To Cart, Ayon Kay Chinkee Tan

3. Maxicare EReady Platinum Prepaid Health Card HMO Emergency (Php 1039)

Moms also recommend this prepaid health card that has a benefit of up to ?15,000 coverage on emergency treatment. It is eligible for ages 15 days old to 65 years old. One user said: “I ordered 2 cards for me and sister for peace of mind. I'm glad there's a prepaid emergency health card because we really need this nowadays for emergency purposes.”

This Emergency HMO is valid for one year. If you already used it, you can buy another one. We all know how costly it is to get hospitalized, so having this can help you have peace of mind should emergencies like this happen.

Buy it on Lazada here or on Shopee here.

4. Peso Sense Ipon Challenge & 1 Bill Alkansya (Php 39)

“Gaganahan ka ng mag-ipon kapag ganito yung alkansya mo,” one customer said.

This may seem old school, but going to the basics of saving and starting small will help you stay thrifty. Having your coins or bills secured in this can make less temptation to spend excess cash.

Buy it on Shopee here.

5. GoTyme Bank's Go Save (Php 0)

GoTyme Bank, the newest player in Philippine banking, whose savings account named Go Save allows a single client to create five (5) separate Go Save accounts with customizable target timeframes to assist you in reaching your savings goals at your own pace. 

GoTyme Bank CEO Nate Clark said, "I have 4 young daughters, GoSave allows you to save up to 5 named accounts." He revealed he has individual accounts for them, "You can attach a photo for each of your kids and save for their future."

Marisol Prieto, GoTyme Bank's head of brand, meanwhile said, "I'm a new parent and I really understand how important it is to have a savings account for your family. This product will help you achieve your goals."

Because moms have so many things going on, it's important having a digital bank that is simple, sustainable, and secure.

Best of all, anybody who opens up a GoTyme account with limited funds to start with can enjoy its repriced 5% interest rate!

"It's really about simple savings, put your money there, and we'll give you the 5%," Prieto said during the GoSave media launch last March.

Download the GoTyme Bank on Google Play here or on the App Store here.

Read how to teach your kids to be money smart here.

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