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}}
  • 7 Tips to Develop a Money Mindset for Your Financial Goals

    09 June 2021


    7 Tips to Develop a Money Mindset for Your Financial Goals banner

    Save no matter how little, as early as possible.

    As simple as these pieces of advice sound, they require a strategy to make your saving journey a success. That strategy involves developing a proper money mindset. Your beliefs and attitude about money make up your money mindset. You also prepare yourself mentally and follow a systematic process, from goal setting to proper financial management.

    To achieve your financial goals, you want a mindset that focuses on the positive uses of money. Following these steps can help you form the right money mindset.

    1. Define your meaning of financial success

      The first consideration is to know that financial success is possible for you to attain. However, it’s important to focus on your standards—paying attention to norms or what other people say you should do may not work for you. If you live by other people’s expectations, you may aspire for something less because you feel guilty about wanting to have stellar financial accomplishments.

      So, go where you want to be. Validate yourself and focus your efforts on being the financially savvy person you wish to become.

    2. Identify your financial purpose

      Like the measure of financial success, the financial purpose may differ for each person depending on past experiences, plans, or life values. In the latter case, giving may be the most rewarding financial purpose as it gives meaning to life for both the giver and the receiver.

      Giving has something to do with the abundance mentality, too. It inspires you to aim for financial rewards continually and have the heart for giving to others.

    3. Learn about personal finance

      Living within a budget is one of the best means of changing your money mindset. When you set and follow a budget, you live within your means and avoid unnecessary expenses. It also helps you allocate funds for the things you enjoy the most, like a vacation house or retirement home, and plan how much to save for your dreams to reach fruition.

      Instead of looking at your budget as a restriction that weighs you down, think of it as your road to financial freedom.

    4. Plan to get out of debt

      The best plan to pull this off is to reduce your expenses to have more toward debt or loan payments. As a rule, you can’t spend more than what you earn.

      List your monthly expenditures and, based on your income, identify those you can scratch out. Make a mental note to veer away from unwise purchases. As you become adept at sticking to a monthly budget, setting aside 20% of it for paying off loans first will let you settle them in no time. It also helps to visualize what you can achieve once you’re out of debt. With your loan payments settled, you can start growing your money through investments.

    5. Be content with what you have

      Lack of contentment can be associated with spending or consuming more money than you can afford. This habit of overspending can put an unnecessary strain on your finances, creating a cycle that may force you to make bad money decisions.

      This principle does not promote stagnation but emphasizes the importance of saving and living within your means. As contentment settles into your psyche, you’ll find it easier to say no to unhealthy spending impulses.

    6. Differentiate needs versus wants

      Needs are the essentials in your life, like food, medicine, and shelter. They must be on your priority list of expenses, with proper budget allocation, of course. On the other hand, wants are an improvement from your current state of being or a moving up of sorts—like getting a new, bigger home—which can potentially drain your hard-earned savings if you can’t make the money you used to buy it work for you.

      Getting a bigger house and renting it out is a different matter. It all depends on how you look at how money is made, which is what a proper money mindset is about.

    7. Acknowledge your financial mistakes (and learn from them)

      Financial mistakes are all too common. Perhaps you’ve experienced keeping too many credit cards at the same time or believed that living paycheck-to-paycheck is fine. Although mistakes of whatever nature come with feelings of shame, you also need to know that making mistakes is acceptable as long as you learn from them. They teach you valuable lessons and insights on how to do better the next time around. They shape you into who you are and all aspects of your personality, including your money habits.

      Another valuable practice is to learn from the mistakes of others. You don’t have to look far to find a wealth of experience, as anyone from your family or friends may have already faced financial woes. These life lessons can help you hurdle your financial setbacks should the same happen to you.

    What’s Your Money Mindset?

    Having a proper money mindset is about taking prudent and practical actions in your finances. Besides having financial goals, preparing for the future also includes getting life insurance in the Philippines to help you take care of yourself and maintain good health.

    BPI AIA's Critical Care 100 lets you enjoy lifetime health protection from up to 100 critical illnesses until age 100—long enough to see your family grow and live happily and worry-free. Set a virtual appointment with our agent today.

     

    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

    Critical Care Max

    Health

    Critical Care Max will help you make more memories by providing financial aid during the early stages of a critical illness. This unit-linked life and health insurance plan offers assistance on your recovery. You can build a health fund that grows over time, depending on your chosen investment, to pay for other medical costs.

     

    In addition, it comes with a hospital confinement benefit that will replace lost income due to hospitalization. This daily cash benefit may also come with optional benefits like cash payout for surgery-related expenses, allowance for consultation fees, and many others.

    Philam Life Vitality

    Build Estate Plus

    Life Protection

    Let your loved ones enjoy the fruits of your labor even when you’re no longer around. Build Estate Plus is a unit-linked protection plan that will cover your estate taxes after your passing so that you can ease your family’s burden.
     

    It doubles as an investment savings fund that builds Account Value as you pay. It is also integrated with AIA Vitality that provides additional upfront coverage of 20% to your policy and add-ons.

    Philam Life Vitality

    CRITICAL CARE PLUS

    Health

    Be in good hands in times of sickness. Let Critical Care Plus, a unit-linked health and life insurance plan, take care of you with financial aid in case of a major illness, so you can focus on getting better and spending more time with your loved ones.

     

    It even gives you more benefits for having good health through the AIA Vitality program that adds 20% upfront coverage and supplemental benefits on your policy. 

    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.