Things Every Young Person Should Have

Rather than being self-employed, many young Filipinos who graduated from senior high school or college prefer to be wage or salary workers or employed in an organization. This is the preference mainly because for younger workers, their financial capacity and skills or professional literacy are still in the establishing stage.

The impact of having many young professionals entering the workforce means growth in the economy. Thus, being a qualified and competent young adult is an advantage, and will likely result in gaining a return on investment. This return on investment will generally affect and benefit the country as a whole. Newly hired graduates and young professionals will not just help the country, but they will also improve themselves by strengthening their professional, intellectual, social and financial skills.

Once young adults start their career, there are a few things that they should have. These things are better to secure while still young because they are easily achievable at an early stage, and are essentials to build a sturdy and reliable quality of life for young people.

Investments in Knowledge and Skills.When you hear the word investment, the first thing that comes to mind tends to be money-related funding and expenditure. However, there are different forms of investments. These can be tangible and intangible that could later create profit and advancement. An example of this is learning a new set of skills. As a startup employee, for example, you have the urge and desire to acquire new learning. It is best to take advantage of all the opportunities around you, especially the ones related to your field of work. Seminars, training, workshops, and even the actual job you’re doing are good sources of investment in knowledge. Having a new skill can add to your value as an employee and as a person, and will be an asset for the future.

Savings. Whether you’re young or old, having savings is a must, and the earlier you start, the better. There are different types of savings available, and having a savings account in a bank is the most common one. Banks offer several types of savings accounts such as passbook savings account, time deposit account, joint account, and many others.

Other than banks, there are also other institutions where you can deposit and save your money. The government has savings programs in the forms of SSS and Pagibig. SSS has the SSS Peso Fund where you can invest at a minimum of P1,000 monthly and P100,000 maximum, with 1.85% to 3.75% interest per year. The 65% of this savings will add up to your pension and in the case of total disability, the 35% can be claimed after 5 years. The other government savings program is the Pagibig fund. The Pagibig MP2 lets you invest as little as P500 monthly and without a maximum limit. This can gain 4.58% to 8.11% interest per year and is withdrawable after 5 years.

Insurance. Having the right health insurance is now a necessity. Diseases, accidents and health-related concerns can happen anytime to anyone, whether you’re a child, adult or senior. For young adults, occupational diseases are common concerns. These are the illnesses that can be acquired from work and can cause serious health problems. Insurance lets you secure your future so that whatever health concerns may emerge, you’re protected and ready. Health and hospitalization care insurance like Paramount Direct's Hospital Income Benefit Plan can get you covered until the age of 70. The plan is fit for young adults because of the age eligibility that starts from 20 to 64 years old. In this plan, daily hospital expenses are covered with up to P3,000 daily cash benefit, for a maximum of 365 days. It also includes a convalescence benefit up to P60,000. Application for this plan is not just available for individuals, but can also include couples and families.

Young adults want to live their life to the fullest. They want to experience everything that gives them pleasure, learning, good and satisfying quality of life. Some things are essential to have once you become an adult, but you don’t have to sacrifice and risk everything just to secure a great future. Having a concrete life plan and making good decisions can make life a little less tight.

Take the first step towards a good future. Apply for the Hospital Income Benefit Plan by clicking the APPLY NOW button below.