Rethink your finances and prepare for the future


Posted at Dec 05 2022 11:19 AM

People dream of having a comfortable and stable life. Nowadays, more people, especially the younger generation are planning on retiring early, living a comfortable life with family, and having financial freedom. 

Here are a few tips on how to start preparing for the future now:

Have a futuristic mindset

The steps you take today will determine your tomorrow, so decide to live for your future today with HSBC. Photo source: HSBC
The steps you take today will determine your tomorrow, so decide to live for your future today with HSBC. Photo source: HSBC

Knowing how to spend your money may benefit you a lot in the future. So, whenever you spend, make sure to always consider your budget, remember your credit card cycle, and make sure that what you are spending on will be valuable to you in the future.

For example, spending on delicious and healthy meals will benefit your future health, while skimping on your food allowance and eating food that is unhealthy may not be the best decision to make.

Always refocus

The key to a secured future is to never stop saving and always focus on your future. Having a strong will is an important part of preparing for your future, so learn to repeatedly refocus. 

Whenever you are tempted to quit saving, just think of the benefit it will bring you and your family in the future.

Enjoy while saving

Photo source: HSBC
Photo source: HSBC

Treating your family out for a good meal to celebrate milestones, as well as taking that well-deserved vacation once a year, or signing up for that class that you have been wanting to attend to, but it is best to keep in mind that you need to have a spending routine – set a specific time where and when you can spend, it can be on your parent's or your birthday, and save up for the rest of the year, or maybe once a month. You can also set a spending limit, so that you can enjoy life while still saving.

Choose a finance buddy

Having someone to guide you in your financial journey will help increase the probability of your life's success, so choose a finance buddy that will help you keep accountable in your spending habits and savings.

HSBC Philippines is one of the leading universal banks in the country that has been operating in the Philippines for 147 years. It was also recognized as the Best International Retail Bank of the Year in the Philippines by Asian Banking and Finance Retail Banking Awards 2022 for two consecutive years. 

Through the recently formed HSBC Investment and Insurance Brokerage, Philippines Inc. (HIIB), also known as HSBC Wealth, HSBC aims to be part of everyone's lives and future – helping individuals and families to fulfill their aspirations by connecting them to investment opportunities locally and around the world, through its International Wealth Hub, and Private Banking offices globally.

"I am delighted with the launch of HSBC Wealth, as a milestone in our 147-year history in the Philippines. This demonstrates our confidence in the country, reaffirms our commitment in bridging customers with the rest of the world and supports HSBC's ambition to be the leading international wealth manager in Asia," shared HSBC Philippines President and CEO Sandeep Uppal.

"At HSBC Wealth, we start with understanding our clients' needs and financial objectives – be it health, growing their wealth, supporting the education of their children, planning for their retirement or passing on their legacy to their loved ones. We support them every step of the way through our holistic services, offering with a range of insurance and investment opportunities, helping our clients to protect, grow and diversify their wealth," shared Peter Faulhaber, HSBC Wealth Vice Chairman.

HSBC Wealth now offers a range of Unit Investment Trust Funds (UITFs) covering a range of asset classes and risk profiles. It offers customers a broader choice of investment products to help people create a diversified and strong financial portfolio.

The funds come in different currencies and are managed by partners who are key players in the asset management space locally, and across the globe. 

Investment-linked insurance products are available in both single pay or regular pay, giving customers both protection and an opportunity to help grow their investments.

For more information about HSBC Investment and Insurance Brokerage, Philippines Inc., visit this website.

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