Lea Salonga's 5 Secrets To Managing MoneyHere's how Broadway Star, Disney Princess and Mom Lea Salonga sets up for the future!CREATED WITH HYUNDAI
Although the theater roles she play may change, Filipino pride Lea Salonga, has one constant role in her life – that of a mother. Get to know another side of Lea as she shares her thoughts on managing money and setting up a financially prepared future for her family.
Live within your means.
"I'm not somebody who tends to spend a whole lot unless I know that what I'm spending on are necessities. As far as budget management is concerned, my husband and I set aside a budget for household expenses, bills for utilities, food and other basic necessities. We also set aside something for our simple recreation."
Start setting aside money as soon as you can.
"I started investing when I actually had enough money to do it, in my 30s I think. In my 20s, it was all about saving."
Know where you are investing.
"I want to invest in products and companies that I know will do well because, sometimes, it's also possible that all your money could disappear depending on the investment risk. I've worked way too hard for that money. So I feel better when I keep my investments on the conservative to moderate side. Even if the return isn't high, there should always be at least, a return of investment."
Plan ahead, especially for your child's education.
"My child's education was one of the first things I needed to set aside something for. I need to make sure that if anything happens to me and my husband, her education is taken care of. Because life is unpredictable and tuition fees continue to get expensive."
Invest in the future.
"Life insurance, in general, is a great product to endorse. It's really about the thought of planning for the rest of your live and not just hoping that everything will turn out okay. It's like you basically have the tools to make sure that you and your loved ones are provided for."
For Lea's life insurance needs, she chooses Insular Life. Check out what's in store for you at Insular Life. Click HERE!