Skip to main content
  • Search
  • Home
  • Our Products
    • Protection
    • Health
    • Savings
    • Wellness Series
    • Insurance with investment
    • BPI AIA Direct
    • Partnership Insurance
    • Corporate Solutions
  • Key Moments
    • Building My Wealth
    • Getting Married
    • Becoming A Parent
    • Working Abroad
    • Planning For Retirement
    • Running A Business
  • About Us
    • Our People
    • Media Center
    • Corporate Governance
    • Our Commitments
    • Events & Promotions
    • Careers
    • Our Customer Charter
    • Our Internet Security Arrangement
  • Claims & Support
    • Contact Us
    • Contact Info Update
    • BPI AIA Funds
    • Payment Facilities
    • Benefit Payout Enrolment
    • Frequently Asked Questions
    • Claims Guide
    • Forms Library
    • Bill of Rights of Policyholders
  • Total Health Solution
    • Live Better
    • Get Better
    • Protect Better
    • My AIA PH
  • My BPI AIA
    • Bancassurance Portal
    • My AIA
    • REQUEST My AIA ACCESS
    • Bancassurance 101
BPI AIA
BPI AIA BPI AIA
  • Our Products

    Our Products

    Find a life insurance plan according to your needs

    SEE MORE

    For Individuals

    For Corporations

    • Protection

      Put yourself at ease by protecting those you love

    • Health

      Protect yourself from unforeseen medical costs and focus on getting better

    • Savings

      Make saving for the future within your reach

    • Wellness Series

      Protection solutions that reward your healthy choices

    • Insurance with investment

      Make the most out of your hard-earned money

    • BPI AIA Direct

      Affordable protection products readily available

    • Partnership Insurance

      Affordable insurance to protect yourself and your family

    • Corporate Solutions

      Protect your company's best assets

  • Key Moments

    Key Moments

    Where are you in life's key stages?

    VIEW ALL KEY MOMENTS
    • Building My Wealth

      Setting yourself up for success

    • Getting Married

      Embark on a beautiful journey as husband and wife

    • Becoming A Parent

      Preparing your child's future

    • Working Abroad

      Setting aside in order to come home for good

    • Planning For Retirement

      Having time to do things that you have always wanted to do

    • Running A Business

      Take care of your most important asset

  • About Us

    About Us

    BPI AIA is a partnership of financial icons

    Know more
    • Our People

      The foundation of our success

    • Media Center

      News and information about BPI AIA

    • Corporate Governance

      ASEAN Corporate Governance Scorecards

    • Our Commitments

      Partnerships and community initiatives

    • Events & Promotions

      Here’s what’s happening in BPI AIA

    • Careers

      Explore opportunities to bring real ambition to life

    • Our Customer Charter

      This is our commitment to you.

    • Our Internet Security Arrangement

      Safeguarding your data.

  • Claims & Support

    Claims & Support

    We strive to provide the best service for our customers

    Contact BPI AIA
    • Contact Us

      Cannot find the answer in our FAQ section? Contact us now

    • Contact Info Update

      Easily update your contact information with us to receive timely updates on your policy.

    • BPI AIA Funds

      BPI AIA and Ayala Life Funds Information

    • Payment Facilities

      We make it easy to pay your premium. Choose the best payment option for you.

    • Benefit Payout Enrolment

      Receive your benefits via our convenient payout options.

    • Frequently Asked Questions

      Have a question? You may find the answer here

    • Claims Guide

    • Forms Library

      A selection of forms you can download, fill in and send back to us

    • Bill of Rights of Policyholders

      The Bill of Rights details an insurer's obligations to consumers to better protect policyholders.

  • Total Health Solution

    Total Health Solution

    • Live Better

      Enjoy a healthier, better, longer life with AIA Vitality.

    • Get Better

      Be on the road to full recovery with access to health care services.

    • Protect Better

      Be better protected against life's uncertainties so you can live worry-free.

    • My AIA PH

      Welcome to My AIA! It's your new all-in-one customer portal for your policy, health and wellness needs. Login and try it today!

  • My BPI AIA

    My BPI AIA

    Access your BPI AIA accounts

    • CUSTOMER

      My AIA

      View the status of your policy & claim requests, monitor your policy’s account values, and keep tabs of your payments & benefits history.

    • BSE

      Bancassurance Portal

    • Bancassurance 101

      BPI AIA is the number one bancassurance company in the Philippines. Find an affordable life insurance product in 800+ BPI branches nationwide.

  • Search
  • Contact Us
    • Call Us

      Open: 8am to 5pm, Mon - Fri

    • Leave Us a Message

Building My Wealth
Prev | Next
Back to Top
  • {{title}}

    {{label}}
  • 5 Steps to Get A Head Start On Your Financial Future

    18 October 2017


    5 Steps to Get A Head Start On Your Financial Future

    It’s never too early to start thinking about the life you want to live down the road and building the financial foundation to support it. Act on these five tips now to put yourself on the right path to a wealthy tomorrow.

    1. PAY DOWN DEBT

    The first step on your journey to financial security should be to focus on paying down all debt. Most consumer debt—in the form of credit card debt or loans—comes with interest rates that are much higher than the returns you earn from savings accounts or stock investments. Clearing your debt first will free your money to build on itself.

    However, this approach is not for everyone. If you focus only on paying down debts without having any emergency funds, you may have to take on more debt in a time of need. If you’re starting from zero savings, take as much as you can spare after essential expenses and put 70% of that money into your emergency fund, and then 30% toward paying down debt. Once you've reached your target amount for emergency funds— the amount should depend on your circumstances—start concentrating 100% on paying off all debts.

    2. INVEST IN DIVERSIFIED FUNDS

    Leaving all your money sitting in a savings account means you aren’t helping your wealth grow. Invest it to make your money work for you, but keep in mind that every investment carries some risks. Putting all your savings into one big investment can have a big payoff, but it can also ruin you if you’re unlucky. That’s why it’s good to diversify; it spreads your risk in different places so that if one or more investments turn out badly, your other investments can still work to build your wealth.

    Non-experts should generally avoid investing in specific stocks because of the inherent risks. Instead, choose diverse investment funds. It's also best to seek trustworthy advice from experts who can guide you to wiser investments.

    3. TAKE ADVANTAGE OF COMPOUND INTEREST

    When it comes to investments, there’s a saying that it’s “time in the market, not timing the market.” It's not about knowing the best stock to invest in at a certain time, it’s about investing as early as you can in low-risk investments and letting time and compound interest do the work for you.

    What is compound interest? It’s the principle that interest allows the principal to grow exponentially greater over the years. Imagine a 40-year-old who invests a one-time sum of Php5,000 in a fund with an average 8 percent annual return. By the time he is 65 years old, that money will grow to almost Php40,000. But if that person had invested the same amount of money at the same percent annual return at 20 years of age instead of 40, that Php5,000 would have grown to Php180,000 by the time he is 65. And that is just with a one-time investment. If that person put aside Php5,000 every year in the same fund with the same rate of return from age 20, he would have over Php2 million by the time he is 65.

    This is the biggest reason to start saving right now. No matter what amount you have to put aside, giving it time to grow will be the most effective—and easiest—way to secure your future finances.

    4. SET UP AUTOMATIC INVESTMENTS

    Automating contributions to your savings will not only ensure you set money aside for the future, it will also put money safely out of reach before you can spend it on something unplanned. BPI offers scheduled payments through BPI Express Online and the option for automatic debit arrangements, giving you one less thing to remember each month.

    5. CREATE SPECIAL SPENDING ACCOUNTS FOR SPECIFIC GOALS

    One of the biggest obstacles to building wealth is not having the discipline to leave your savings alone. Compounding interest cannot have its full effect if you are constantly withdrawing from your savings funds and investments in moments of temptation. Build a firewall around your savings and give yourself freedom to spend within limits by opening spending accounts dedicated to dream expenses.

    Every month, after setting aside money for essential expenses (such as rent and monthly bills) and long-term savings investments, keep the rest of your money in an account meant for miscellaneous expenses. This can be used for things like spur-of-the-moment shopping or going out to eat. From there, think about the goals you want to save up for in the near future. Is there a big trip you want to take this year? Or a designer bag you have your eye on? Open a separate spending account for each goal and deposit a portion of your miscellaneous money into them each month until you hit your goal. Being intentional about your spending will help you achieve your dreams and curb the temptation to dip into your long-term savings.

    With a low minimum premium of Php2,100 a month, Life Ready Plus is a great insurance plan to help you get started on the road to a financially-secure future. You can start small with basic life insurance, and then customize with add-on benefits and investments in up to 10 professionally-managed funds when you're ready.

    Life Ready Plus is part of the BPI AIA's health and wellness programs powered by AIA Vitality – a wellness program that rewards a healthy lifestyle. Enjoy an upfront 20% additional life coverage and supplementary benefits by making healthy choices. Boost Vitality Status and get up to a maximum of 50% additional coverage on the succeeding years. Plus, avail of discounts from a range of partners as a reward for living healthy.

    To find out how you can take the first step in living longer, healthier, and better, check BPI AIA Wellness Series.

    Live Longer, Healthier, and Better

    Invest in both your health and wealth with BPI AIA Wellness Series

    AIA Vitality

    RECOMMENDED PRODUCTS

    Life Ready Plus

    Protection

    Get the power to protect yourself and your family with an affordable life insurance plan. Life Ready Plus is easy on the budget, but offers coverage of up to 30 times your yearly payment to support the financial needs of your loved ones.

    The plan gives you fast access to coverage and benefits and can match your long-term financial goals when maintained within an appropriate term.

    Philam Life Vitality
    Newsletter

    CONTACT BPI AIA

    (02) 8 528 5501

    FACEBOOK MESSENGER

    15th Floor BPI-Philam Life Makati (formerly Ayala-FGU Bldg) 6811 Ayala Avenue Makati City 1226

    CONTACT BPI AIA

    (02) 8 528 5501

    FACEBOOK MESSENGER

    15th Floor BPI-Philam Life Makati (formerly Ayala-FGU Bldg) 6811 Ayala Avenue Makati City 1226

    GO TO

    AIA Philippines

     

    BPI

     

    AIA.COM

      

    Explore BPI AIA

    Our Products

    Key Moments

    About BPI AIA

    Who we are

    Our People

    Media Center

    Careers

    GO TO

    AIA Philippines

     

    BPI

     

    AIA.COM

    Learn more about AIA Group

    EXPLORE BPI AIA

    Our Products

    Key Moments

     

     

    ABOUT BPI AIA

    Who we are

    Our People

    Media Center

    Careers


    Copyright 2016. AIA Group and its subsidiaries. All rights reserved.
    Terms of Use | Privacy Statement | Cookie Policy

    This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookie Policy and Privacy Statement.