Restarting Your Financial Journey: Key Tips from Sun Life Suntalks

Life is filled with ups and downs, and sometimes we find ourselves in a situation where we need to hit the reset button on our finances. It might be because we're overcoming debt, recovering from financial setbacks, experiencing a significant life event, or simply desiring a fresh start for better financial management. During a recent Sun Life Suntalks session, I was intrigued by the insightful advice shared by Ms. Valerie Lagarde, focusing on key takeaway points to consider for a successful restart.

Ms. Valerie Lagarde highlighted four important life stages that each of us may encounter on our financial journey. These stages encompass getting started, building confidence and independence; moving up, prioritizing family above all; preparing ahead, nurturing health and wealth; and leaving a legacy, ensuring lasting golden years. With the right financial methods, we can navigate each stage effectively, embracing the changes that come our way

Climbing the Financial Planning Pyramid: A Strong Foundation for Success

To thrive on our renewed financial path, Ms. Valerie Lagarde introduced the Financial Planning Pyramid, a strategic guide to rebuilding financial stability. At the foundation lies the creation of an emergency fund, followed by securing income and health protection. Moving upward, we focus on saving for education and retirement, and ultimately, planning for estate transfer. This pyramid offers a roadmap for safeguarding your finances and building long-term security.

You can easily restart said financial journey by double checking if you are living within your means, and if not, how you can mitigate that problem. One way is to cut back and focus on what you need the most at the moment. 

Another is to apply the 50-20-30 rule, which helps one to streamline their spending. 50% of your salary goes to necessities, 20% goes to savings and 30% goes to wants. This helps one to better their expenses and to easier commit to investments and asset protections via insurance. The good thing with this is you can easily see the growth of your savings and "wants" partition, making you more motivated in the long run to commit. 

Most of the time, you don't really need to have so many extra jobs to make ends meet, you just have to double check on where the money goes in the first place. 

Expert Guidance: Partnering with a Qualified Financial Advisor

Restarting your financial journey can feel overwhelming, but you don't have to go it alone. Seeking professional guidance from a qualified financial advisor is a crucial step towards achieving your goals. Sun Life's expert Financial Advisors are well-trained and equipped to analyze your unique financial situation, offer personalized advice, and recommend strategies that align with your aspirations. With Sun Life's 128-year legacy as one of the Philippines' top life insurers, you can trust in their expertise to guide you towards a brighter financial future.

Restarting your financial journey can be empowering and transformative. By embracing these valuable insights and partnering with a reliable financial advisor, you can pave the way towards a brighter and more secure financial future. Remember, it's never too late to take control of your finances and achieve your dreams. I am definitely excited to restart my financial journey with Sun Life's expert guidance today.