Friday, July 24, 2020

Sun Life: Rise together and achieve financial goals

As part of its efforts to promote financial literacy during Financial Independence month, Sun Life Philippines held the Sun Talks Virtual Conference last June 27 with the theme, “Rise Together to a Bright New World.”

The conference, comprised of various talks from industry experts and business leaders, aimed at encouraging Filipinos to pursue their financial goals despite the challenges brought on by the global health crisis.


There are four tracks with three different talks in each track during the virtual conference. First is the “Money for Life” track that talks about the right financial tools needed to build wealth. The next one is “GoWell for Health” track that discusses insights on how to discover the journey toward a healthier lifestyle. Another is the “Partner for Business” track that explores professional and personal pursuits. Lastly, the “Partner for Overseas Filipino” track tackles the many ways to grow and secure the finances of Filipinos working abroad.

In the Money for Life track, Sun Life Distribution Support and Strategy Head Jenny Del Mundo was among the speakers and she talked about the role of life insurance in one’s personal financial plan and how it can serve as a safety net for families especially during a pandemic.

Renowned wealth coach Chinkee Tan also shared the different ways you can budget and save during quarantine.

Tan identified five reasons why budgeting is not easy: spending habits, access to various temptations, peer pressure, and lack of know-how makes it difficult for a person to budget his finances properly. To resist these, Tan enumerated important steps in budgeting. First, identify and write down your short, medium, and long-term goals that are simple, practical, and achievable. It is also important to know your exact income to know how much money you can actually spend after saving. When you have these, you need to write down your spending and allocate your income according to your priorities. Lastly, there’s a need to review and assess your expenses on a monthly basis.

“At the end of the day, it’s not how much money you earn, but how much money you keep,” Tan notes.


With regard to saving, Tan shared two strategies on how to save successfully. Cut one’s expenses down and grow one’s savings while searching for ways to increase income. He shared that one should always save with a particular goal in mind.

“Saving always comes first. You cut down on your expenses as much as you can. You do not ask your income to adjust to your lifestyle, you ask your lifestyle to adjust to your income.”

To equip Filipinos with the right information on how one can jumpstart the journey toward financial wellness, Sun Life offers different online tools such as the Money for Life Planner, the Health and Wellness Planner, and the Sun Life Advisor Match. Sun Life also offers various calculators that help clients compute and identify their insurance and investment needs as well as how to counter the effects of inflation.

The second Sun Talks Virtual Conference will take place on August 15, 2020. To know more about it, visit the Sun Life Philippines Facebook page: www.facebook.com/sunlifeph.

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