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Understanding Financial Literacy

Understanding Financial Literacy: 

 

How to Build Your Financial Confidence

April 1, 2024 | by HC Mutual

As April begins, so does an opportunity for everyone to prioritize their financial well-being.
April is known as Financial Literacy Month in many countries. For them, it’s a reminder of how important it is to understand money and make smart decisions about it.
Financial Literacy Month aims to promote awareness and education around financial literacy, equipping people with the knowledge and skills necessary to navigate the challenges of our finances.

Whether it’s learning to budget, save, invest, or plan for retirement, financial literacy covers a lot of ground that’s crucial for a stable financial life. 

Why Do We Need Financial Literacy?

Empowerment.

Financial literacy gives people the power to take charge of their money. When you understand how money works, you feel more confident making decisions that match your goals and values.

Prevention of financial pitfalls.

Knowing about money helps you steer clear of common problems like too much debt, spending indulgently, or not saving enough. With the right knowledge, you can spot these issues and avoid them.

Long-term financial planning.

Financial literacy isn’t just about today; it’s about tomorrow too. It helps you plan for things like retirement, investing, and making sure your family is taken care of after you’re gone.

Keeping the economy strong.

When more people understand money, it helps keep the economy stable. By being financially savvy, individuals can handle tough times better and make choices that ultimately help the economy stabilize and grow.

How Do We Achieve Financial Literacy?

It’s all about learning the foundations in order to apply them effectively. There are workshops, classes, and online resources being held and distributed, especially this month of April, to help you understand money better. Take advantage of the resources available to you both online and offline.
Whenever you have free time, you can also start integrating financial literacy learning activities into your daily habits.

Read books and articles about personal finance from trusted sources.

Participate in one webinar per week or per month. You can post the insights you gain on your social media accounts to share your knowledge, and process what you’ve learned.

Listen to podcasts or follow blogs about a personal finance subject that you either enjoy or could use assistance with.

Here are some recommended podcasts and blogs you can follow:

Optimal Finance Daily
Money for the Rest of Us
The Money Guy Blog
BiggerPockets
Financial literacy is broad and touches on many topics. You can avoid being overwhelmed by making learning a part of your daily routine. The important thing is to build your knowledge. It also helps to talk to people you know and trust and get varying opinions to expand your point of view.
Taking the first steps
to financial stability
HC Mutual is committed to assisting you in achieving your objectives at all times. Our offerings are intended to help new families own their first home, be prepared for financial emergencies, and save more efficiently.
 
Start your journey to financial stability and a fulfilling family life with our savings plans, which include loan benefits to help you achieve your financial goals.
HC Mutual offers savings plans with competitive interest rates and effortless savings options that can further help you take control of your finances and acquire financial stability in the future.

Secure your future through saving.

  • Start saving for as low as PHP 101 per payday.
  • Flexible savings plan of 3, 5, or 7 years.
  • 3% earnings from your savings per annum.

Earn more from your savings to reach your goals faster.

  • Start saving for as low as PHP 1,212, PHP 2,424, or PHP 3,636 per payday.
  • Fixed 5-year savings plan.
  • 5% per annum after 5 years upon completion of the plan.

Be prepared for financial emergencies.

  • Loan release within 24 hours of approval
  • Interest rate as low as 0.99%*
  • Flexible payment terms of 12, 18, or 24 months

Be on your way to owning a home!

  • Php 450,000 to Php 20M loan amount per member
  • Easy application after one (1) month of membership
  • Access to our partner developers and a wide range of brand-new homes OR the flexibility to choose your own property
  • Payment holidays extension in case of emergencies
  • Payment holidays extension in case of emergencies

Financial Literacy Month is a time to focus on learning and feeling empowered, instead of overwhelmed, about money matters. By investing in our financial knowledge, we’re investing in a brighter, more secure future for ourselves and those who come after us. Let’s make the most of this April by learning more about our finances and taking steps toward a healthier financial life.

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From “I do” to “We’re expecting”:

From “I do” to “We’re expecting”: 

 

Your guide to financial stability as you build a new home

March 12, 2024 | by HC Mutual

The decision to say “I do” is not just a vow exchanged between partners; it’s the beginning of a shared adventure that often leads to the creation of a family. As the two of you stand on the brink of marriage, you envision the wedding not only as a celebration of love but as the gateway to a future filled with anticipation of starting a family.
However, the notion that a wedding should be extravagant and grandiose at the beginning of a relationship is becoming impractical in today’s society. This is due to the high expense of a wedding, even if it’s not a lavish one.
Even though weddings are important events, the financial cost can be too much for a couple. This is of course, taking into account the life they are going to build after the wedding.
An increasing number of people are realizing the importance of planning ahead and making sure they have adequate funds before getting married, as opposed to following social norms and jumping into marriage too soon.
Financial security first
With rising inflation and the soaring property values that we experience today, delaying parenthood until you have sufficient income is just one of the ways that the concept of responsible family planning has evolved. After all, taking care of children entails large financial outlays for daily necessities, schooling, and health care.
If your future plans do include raising a family, remember that your future children will rely on your support until they reach adulthood. It is critical to have sufficient financial resources and a sustainable long-term financial plan for this big obligation.
 
Eventually, owning a home is also a good thing to have in your vision. As your future children grow up, having your own space lets you have more stability and puts your focus on the evolving needs of your family, instead of thinking about things like paying rent, or looking for a bigger space every few years.
Given everything you have to consider as you start this new chapter in your life, it is crucial to build a solid foundation, whether it’s emotional or financial, for the entire family—and this will ultimately become the basis of the household’s long-term success and happiness.
Planning ahead: The best decision you can make for your family

So how do you start financially planning for your future family life? Here are some things to consider:

Prioritize saving
By setting aside a portion of your income each month for an emergency fund, future education expenses, and a down payment on a home.
Consider creating separate accounts for specific goals to track progress and avoid unnecessary spending.
Open communication about financial values and priorities is key.
Discuss your individual spending habits, financial goals, and any potential challenges that may arise. This allows your partnership to be productive, healthy, and sustainable as your needs and goals evolve. 
Collaborate on making informed decisions 
About major purchases and investments, ensuring that both partners are on the same page.
This way, both parties will have equal ownership of every financial decision that takes place, alleviating future disagreements as well as solidifying the bond between partners.
By fostering transparency and discipline in your financial approach, you’ll not only build a strong economic foundation for your family but also strengthen your relationship through shared responsibility and trust.
 

Where you can start

HC Mutual is here to help you achieve your goals every step of the way. Our offerings are designed to empower beginner families to own their first home, be prepared for financial emergencies, and save in more efficient ways. Start your journey to financial stability and a fruitful family life with our savings plans, which come with loan benefits to support your financial goals.
Secure your future through saving.
  • Start saving for as low as PHP 101 per payday.
  • Flexible savings plan of 3, 5, or 7 years.
  • 3% earnings from your savings per annum.
Build up and earn big from your savings.
  • Start saving for as low as PHP 1,212, PHP 2,424, or PHP 3,636 per payday.
  • Fixed 5-year savings plan.
  • 5% per annum after 5 years upon completion of the plan.

Be prepared for financial emergencies.

  • Loan release within 24 hours of approval
  • Interest rate as low as 0.99%*
  • Flexible payment terms of 12, 18, or 24 months

Be on your way to owning a home!

  • Php 450,000 to Php 20M loan amount per member PHP 3,636 per payday.
  • Easy application after one (1) month of membership
  • Access to our partner developers and a wide range of brand-new homes OR the flexibility to choose your own property
  • Payment holidays extension in case of emergencies
  • Welcome gift upon moving in and 1-year Accidental-Life Insurance coverage worth Php 500,000

Starting this new chapter in your life sounds exciting as it is daunting—but being prepared for what to expect and starting to build a sound financial foundation not only allows couples to weather potential challenges more effectively, but also becomes the cornerstone of an enduring and fulfilling partnership as they build their new family.

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Save Money for Sudden Expenses

Save Money for Sudden Expenses!

Your Guide to Saving for Emergencies and Short-term Goals

February 2, 2024 | by HC Mutual

For most Filipino employees, creating a financial plan for emergency situations is not a priority. The common mindset is that if something is not yet here, it shouldn’t be a source of concern now. This is understandable considering the skyrocketing living costs coupled with the low wages of ordinary workers.
This unfortunate situation especially impacts Filipino households. A major illness or sudden hospitalization of a family member, for example, can lead to bankruptcy in the family, draining savings and burying family members into debt. 
The good news is that you can start creating your budgetary plan today! With the right financial discipline, you can ensure that the next time an emergency financial situation comes up, you are financially ready and you don’t have to drain your savings or drive yourself into debt.

To help you with planning, check out these management tips for your financial peace of mind:

1. Build an emergency fund.
Life’s surprises are a constant in this world. But it doesn’t mean you cannot prepare for them. Whether it’s a sudden job termination or an unexpected medical situation, you need to establish an emergency fund that can help you survive even in abrupt circumstances without putting you in debt.
The ideal amount for an emergency savings fund is six month’s worth of your monthly salary. Start planning how you can contribute to build this amount and complete it in the shortest amount of time possible for you.
2. Be on a budget. 
Most of the time, your salary is just enough for your established goals and to put food on the table. The idea of setting aside money for an event that is yet to arise can be seen as a burden, as you simply don’t have the extra for it. Sticking to your budget means being able to avoid unnecessary spending and paving the way for expenditures that do matter.
3. Make room for future fun and duties.
 
Not all short-term goals need to be associated with unfortunate instances in your life! Occasions like throwing a golden anniversary celebration for your parents or paying for a trip to see your favorite artist outside the country are also an investment in once-in-a-lifetime experiences that can never be replaced or bought. Make sure that you also make room for them to make the most of your money—and your life.
 
4. Put death to debt!
Debt is part of life. Emergency health cases, house repairs, and other loans are just some of the things we need to deal with in life. The best way to handle such situations is to anticipate them with financial readiness, as if they’re already here.
One way to do this is to make sure that these “situations” already have a regular spot in your income. This way, when they do finally happen, you don’t need to borrow, which can lead to an endless pit of debt. You already have your own fund for them.
If an expense is unnecessary or simply out of whim, do not be tempted to give in to it! The key is to live within your means. Staying out of debt is something your future self will be grateful for.
5. Have a separate savings plan for your emergency fund.
 
One of the most effective ways to secure your budget for unexpected expenses is to create a specialized budget for them within your monthly financial plan. Unexpected expenses may be just that—unplanned. But it is not any less crucial. If anything, because of its volatile nature, unexpected expenses should also be a priority because, again, we can never know when life will throw monetary challenges at us.
 
Choose the plan the suits you and start your journey to financial freedom:
Secure your future through saving.
  • Start saving for as low as PHP 101 per payday.
  • Flexible savings plan of 3, 5, or 7 years.
  • 3% earnings from your savings per annum.
Build up and earn big from your savings.
  • Start saving for as low as PHP 1,212, PHP 2,424, or PHP 3,636 per payday.
  • Fixed 5-year savings plan.
  • 5% per annum after 5 years upon completion of the plan.

Taking control of your finances isn’t about depriving yourself of all the fun and nice things that this world has to offer. It’s about building a healthier relationship with your money — one that inspires you to reach your goals and live life on your own terms.

So take the time to brush off the financial stress brought by the past holidays, embrace the energy of the new year, and empower yourself by practicing better money management skills.

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Your Financial Fresh Start

Your Financial Fresh Start

 

Useful Tips on How to Take Better Control of Your Finances 

January 03, 2024 | by HC Mutual

Now that the holiday season is over, it’s time for a fresh start this new year!
After a whirlwind of gift-giving, feasts, impulsive purchases, and other spending sprees, it is best to welcome the new year with a reality check — did the holiday spending hurt your budget?
If the answer is yes, it is perfectly fine. Getting caught up with the holiday cheer can affect even those with the most meticulous budgets. The first two to three months of the new year can be your chance to assess your financial health and chart a course towards greater control of your finances.

Why is this important to do?

Early self-assessment and planning helps you avoid future financial stress, redirect you into improving your strategy towards better money management, and eventually give you peace of mind.

Here are some tips to help you take better control of your finances this new year:

1. Track your spending more efficiently. 
Gather all your receipts and bank statements to analyze where your money goes. Understanding your spending habits is the first step to optimizing them.
Use the method that works best for you. Whether it’s keeping an expense tracking spreadsheet or app, or even writing everything down in a notebook and keeping your receipts in an envelope. Go with what lets you monitor your everyday expenses with ease.
2. Develop a debt payment plan.
If you’re carrying credit card debt, don’t ignore it. Develop a plan to pay it down, whether it’s through the snowball method (focusing on the smallest debts first) or the avalanche method (tackling the highest interest rates first). Every little bit you pay off matters.
3. Budget strategically.  
Create a budget that reflects your income and expenses. There are tons of budgeting apps and tools out there—or you can always go old-school with a spreadsheet. The key is to be realistic and flexible. Don’t set yourself up for failure with an overly restrictive budget. 
 
4. Acquire a savings plan with good interest rates. 
Even if a part of your monthly budget is still allotted for paying debts, it is still a smart move to automate your savings and pay yourself first. You do not have to save a large amount of money immediately. Choose a flexible savings plan that allows you to save an amount that you can afford. After a year or so, you can add to that monthly amount.
Having your savings automatically deducted from your salary or debited from your bank account is one of the best and easiest ways to save. This way, you will be able to save monthly without thinking about it. And little by little, your small automatic savings will add up over time. Remember that small steps lead to big goals so this practice will really be beneficial to you in the long run.
HC Mutual offers savings plans with competitive interest rates and effortless savings options that can further help you take control of your finances and acquire financial stability in the future.
Secure your future through saving.
  • Start saving for as low as PHP 101 per payday.
  • Flexible savings plan of 3, 5, or 7 years.
  • 3% earnings from your savings per annum.
Build up and earn big from your savings.
  • Start saving for as low as PHP 1,212, PHP 2,424, or PHP 3,636 per payday.
  • Fixed 5-year savings plan.
  • 5% per annum after 5 years upon completion of the plan.

Taking control of your finances isn’t about depriving yourself of all the fun and nice things that this world has to offer. It’s about building a healthier relationship with your money — one that inspires you to reach your goals and live life on your own terms.

So take the time to brush off the financial stress brought by the past holidays, embrace the energy of the new year, and empower yourself by practicing better money management skills.

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Start 2024 with Smart Money Habits

Start 2024 with Smart Money Habits

 

Financial Management Tips to Safeguard Your Family’s Future

December 01, 2023 | by HC Mutual

To help you and your family start 2024 with smart money habits,
here are some helpful tips: 
1. Start early and set clear goals.
The earlier you begin planning for your family’s financial future, the more time you have to accumulate wealth, manage debt, and make informed financial decisions. Include financial planning in your new year’s resolution or agenda so you can always remember to address it every year.
Establish clear financial goals, such as saving for college education, purchasing a home, or securing a comfortable retirement. Having specific objectives will provide direction and motivation for your financial journey.
2. Prioritize debt management.
Debt can be a significant burden on your family’s finances. Prioritize paying off high-interest debt, such as credit cards, to reduce the overall interest you pay and free up more money for savings and investments. Consider creating a debt management plan that outlines a timeline for debt repayment.
3. Help each other learn about proper money management.
Financial literacy is essential for making informed financial decisions throughout life. Encourage open and honest conversations about money with family members. Discuss financial concepts, such as budgeting, saving, investing, and responsible borrowing. Start early and teach your children how to manage their finances wisely.
 
4. Protect your family with insurance.
Adequate insurance coverage can safeguard your family’s financial well-being in the event of unforeseen circumstances. Consider getting life insurance, health insurance, and disability insurance to protect your family from potential financial hardship.
5. Promote a culture of saving. 
Developing a savings mindset from an early age is crucial for your children’s financial literacy and future prosperity. Encourage your children to save a portion of their allowance or earnings, and consider matching their contributions to incentivize their savings habits. Establish regular savings goals for your family, whether it’s saving for a vacation, a down payment on a house, or a child’s education.
 
Empower your financial future with HC Mutual’s versatile savings plans designed to help you achieve your financial goals sooner. Our competitive interest rates and effortless savings options, such as payroll deduction and automatic debit arrangement, make it easy to save consistently. 
Choose the plan that aligns perfectly with your needs and experience the remarkable growth of your savings. 
Secure your future through saving.
  • Save as low as Php 60,000 with flexible graduated payment terms of 3, 5, or 7 years
  • 3% earnings per annum
  • Easy saving through payroll deduction, automatic debit arrangement, or payment through any U Store branch nationwide
LEARN MORE
Build up and earn big from your savings.
  • Start saving at Php 2,424, Php 4,848, or Php 7,272 per month
  • Save Php 144,000, Php 288,000, or Php 432,000 after 5 years
  • 5% per annum after 5 years and upon completion of the savings plan
LEARN MORE

Both plans give you access to the KayaMo Family Saver’s Plan — allowing your family members to enjoy full membership benefits. With HC Mutual, you’re not just saving money. You’re investing in a brighter financial future for yourself and your loved ones.

Remember, financial success is a journey. It requires continuous effort, informed decision-making, and a willingness to adapt to changing circumstances. By learning about healthy money habits together and motivating each other to save, you can set your loved ones on a path towards a secure and prosperous future.

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Holiday Spending Hacks

Holiday Spending Hacks

How To Save Money Without Missing Out

November 03, 2023 | by HC Mutual

The holidays are a time for celebration and joy, but it can also be a time of financial stress. During this season of giving and celebrating, it’s easy to forget financial responsibilities and go all out with spending. But as the cost of everything from gifts to travel to food goes up, it’s important to be prepared for the big expenses that come with the season.
Gifts are often people’s top priority during the holidays but other big expenses add up quickly. Compared to the amount of money spent on gifts, these expenses may look small at first but once it has accumulated from pre-Christmas until New Year, you’ll be surprised at how much it will hurt your budget.
Despite the temptation to splurge during the holidays, it is still best to welcome the new year with a healthy financial situation. Here are a few tips on how to prepare for other holiday expenses without breaking the bank:
1. Family vacations
If you’re planning a family vacation for the holidays, it’s important to start planning early. Booking your flights and accommodation in advance can help you save money and get the best deals available.
If you’re traveling by land, using one big vehicle can help you save money on gas. Even choosing the right schedule and accommodations can help cut down on your overall costs. This means taking advantage of weekday rates, picking lesser known and less expensive destinations, and even staying at places that let you cook for the whole group.
2. Family reunions
Hosting a family reunion can be expensive, but there are ways to save money. For example, you can ask your guests to contribute to the cost of food and drinks, or you can have a potluck meal. You can also assign tasks to family members to spread out the cost of the reunion and make it less stressful for everyone involved.
3. Holiday decor
Inspired by the season, Filipinos tend to go the extra mile with their holiday decorations. These need not to be pricey. You can reuse your old decorations, use recycled materials, or borrow old decor from friends or family. With a bit of effort and creativity, decorating can be both a money-saving activity and a holiday project you can do with your loved ones.
Even when practicing these cost-saving tips, the holidays can continue to challenge your budget and cause financial stress when the new year comes around. It’s so easy to spend a lot of money and forget about savings when you’re busy with many celebrations. So if you want to ensure a controlled holiday spending and a stress-free new year, give yourself a practical gift and a wise investment — a savings plan.
HC Mutual offers affordable and flexible savings plans to help you grow your savings and reach your financial goals faster. With competitive interest rates and automatic savings options like payroll deduction and automatic debit arrangement, you can save money effortlessly and build your wealth over time.
Select the plan that suits you best, and witness the remarkable growth of your savings.
Secure your future through saving.
  • Flexible payments terms of 3, 5, or 7 years
  • 3% earnings from your savings per annum
  • Easy saving through payroll deduction automatic debit arrangement, or payment through any U Store branch nationwide
LEARN MORE
Build up and earn big from your savings.
  • Start saving at Php 2,424, Php 4,848, or Php 7,272 per month
  • 5-year plan
  • 5% per annum after 5 years and upon completion of the savings plan
LEARN MORE
Celebrating the holidays does not have to feel like a financial burden. With a bit of planning, a committed budget, and self-discipline, this season can be less about financial stress and more about enjoying the season with your loved ones.
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Secure Your Financial Umbrella

Secure Your Financial Umbrella 

How To Prepare Your Emergency Fund for Unexpected Rainy Days
October 1, 2023 | by HC Mutual

Life is unpredictable. Emergencies such as job loss, medical bills, home or car repairs, and natural disasters can happen anytime and can cause a huge financial burden. If you don’t have an emergency fund, you may have to rely on credit cards or loans to cover unexpected expenses. This can lead to the accumulation of debts and further financial hardship. 

Having an emergency fund gives you peace of mind and allows you to face the unexpected with a reliable financial capacity. Yet at present, most people find it difficult to start saving for an emergency fund due to insufficient income, other financial priorities, and lack of discipline. 

 You don’t have to pressure yourself into growing your emergency fund right away. No matter how small your savings are, the important thing is you constantly set aside a portion of your income as your emergency fund. It will eventually grow and secure you whenever you need it.


To help you on your journey towards building your emergency fund, here are some tips and strategies to start.
1. Set a goal. 

How much money do you want to have in your emergency fund? A good goal is to have three to six months of living expenses saved up. This will give you a cushion to fall back on if you experience financial hardship. 

But if this goal is too overwhelming due to your monthly income and other financial responsibilities, you can start by aiming for an emergency fund equivalent to one month of living expenses, then eventually level up your goal once you already have the capacity for it.

2. Automate your savings.

One of the best ways to save money is to have a savings account separate from your current or payroll account, and then to set up an automatic recurring transfer to your savings account each month. This way, you’re saving money without even having to think about it. It will also help you develop the habit of paying yourself first before making any purchases. 

3. Sell your old stuff.
Ever heard of Marie Kondo? It’s time to go through your belongings and say thank you and goodbye to what you’re not using anymore. If you haven’t seen or looked for a piece of clothing or item for 3 months, it’s probably time to let go and give other people a chance to love them instead.

Sell anything you don’t use anymore that can be useful for other people like bags, clothes, furniture, gadgets, and more. You can sell items online or set up a garage sale. Your profit from selling pre-loved items can be an alternative source of income that can increase your financial capacity and help you grow your emergency fund. And it’ll help you declutter, so win-win!
4. Get a side hustle.   
If you need to save money quickly, consider getting a side hustle. Do you love making art or baking? There are many ways to make extra money, such as freelance writing, driving for a ride-sharing company, or starting a small side business. You can also consider free upskilling courses to expand your skill set. 
5. Trim your budget. 
Take a close look at your monthly budget and see where you can cut back. Maybe you can eat out less, cancel unused subscriptions, or shop in more affordable stores. Every little bit helps when you’re trying to save.

Afterward, decide how much you want to increase your monthly savings and secure it in a savings plan that can surely benefit you in the long run.
HC Mutual offers KayaMo Saver’s Plan that features competitive interest rates and easy ways to save automatically through payroll deduction or automatic debit arrangement. This way, you can grow your savings quickly and achieve your financial goals sooner.

Prepare for any emergencies
through saving.

  • Flexible payment terms of 3, 5, or 7 years
  • 3% earnings per annum
  • Easy saving through payroll deduction, automatic debit arrangement, or payment through any U Store branch nationwide

In situations where you are faced with successive emergencies and need extra cash right away, HC Mutual offers a multi-purpose loan with low interest rates.

We’ve always got your back.

  • Interest rates as low as 0.99%
  • Loan release within 24 hours of approval
  • Fast and hassle-free loan application

Saving for emergencies can be challenging, but it’s important to remember that even a small amount of money you can set aside can make a big difference. By following these tips, you can start building an emergency fund that will serve as your financial umbrella during unexpected rainy days.

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Balancing Festivity and Finances

Balancing Festivity and Finances

Five Smart Tips to Prepare for the Holiday Season 

September 1, 2023 | by HC Mutual

In the Philippines, the spirit of giving and celebration starts as early as September. For many Filipinos, this month represents the early preparations for the holiday season – the time of year when people reward themselves for overcoming the challenges they faced, and welcome a new year full of hope. 

 

In the midst of preparing for upcoming festivities, it’s essential to strike a balance between spreading holiday cheer and ensuring your financial well-being. Let’s explore some valuable tips that can help you save money while still enjoying your early holiday preparations.

 
1. Seize the sales. 

The holiday season is accompanied by enticing sales, discounts, and promotions. Before the calendar even flips to December, keep an eye out for deals on items ranging from gadgets to clothing to household essentials. Taking advantage of these discounts not only stretches your budget but also allows you to buy in bulk, ensuring everyone on your list receives a thoughtful gift. Smart shopping early on can make a significant difference in your spending.

2. Embrace thoughtful exchanges. 

Consider suggesting exchange gifts among your friends and family. Draw names to determine who you’ll be buying for, and set a budget that works for everyone involved. This approach  ensures that each person receives a heartfelt gift while minimizing the financial strain of buying for everyone. Remember that the holiday season is not just about the presents, it’s about creating cherished memories and strengthening the bonds that matter most.

3. Choose DIY decor.  

Decking the halls and creating a festive atmosphere don’t have to come with a hefty price tag. Get creative by making your own decorations and ambiance-setting elements. Involve the whole family in crafting ornaments, garlands, and centerpieces. DIY projects not only add a personal touch to your celebrations but also provide a fun and budget-friendly way to bring the holiday spirit to your home.

 
4. Host stay-at-home celebrations.  

Reunions will surely happen more often in the upcoming months. Consider hopping on the trend of hosting potluck-style gatherings in the comfort of your own home. Opting for a homemade feast instead of dining out not only lets you control the costs but also creates a warm and intimate setting for celebrations. Plus, you have the flexibility to choose a location that suits you and your guests best, ensuring a stress-free experience without the holiday rush at restaurants.

5. Acquire a smart plan for purchasing grand holiday gifts. 
Treating your entire family to a travel spree or extravagant presents doesn’t need to deplete your savings. Consider the option of securing a loan that will align to your upcoming months’ budget, ensuring that your financial resources are sensibly managed. In this way, you can revel in the holiday festivities to your heart’s content, free from concerns about depleting your hard-earned money. 
Make your dreams possible.

Any dream is within reach with a multi-purpose loan that offers low interest rates.

As an HC Mutual member, you enjoy:  

  • Interest rates as low as 0.99%
  • Loan release within 24 hours of approval
  • Fast and hassle-free loan application 

Remember, the best gift you can give yourself is a holiday filled with merry celebrations and wise financial decisions. With these helpful tips, you can stay on budget and have a wonderful time with your family and friends. Welcome to September and enjoy your early holiday planning! 

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Why a Home Loan is the Smart Choice

Why a Home Loan is the Smart Choice

Making your first home within reach

August 1, 2023 | by HC Mutual

Creating an ideal haven for you and your loved ones is one of life’s milestones. Buying a house is always included in almost everyone’s list when they start their careers.

Your first home is a big purchase so it can be a bit stressful when you realize that it will take years before you can afford your chosen property. Waiting for the time when you have saved enough money before buying the property is quite impractical. It can lead to spending more money on rent or spending a longer time living with your parents – which is something not everyone is comfortable with. It may even come to a point when there will not be enough time to enjoy the home that you worked hard for if you get stuck waiting.

Why a home loan is the practical way to go
Fortunately, there are available home loans that can help you acquire your chosen property even if you cannot fully pay for it outright. Many financial institutions offer various types of home loans that make buying a house more feasible. Simply put, a home loan is a financing option that can be used to finance your house, vacant lot, condominium unit, townhouse unit, or apartment unit.
Things to consider

Home loans usually check the following for eligibility: age, employment, income, and citizenship. It is best to do a self-assessment first before you search for the applicable loan for you. Take note that you are not only considering your current financial capacity when you avail a loan but also your future capacity since you will be paying it for years.

Here are some things to consider when you start looking for a home loan:
HC Mutual KayaMo Home Loan

HC Mutual offers KayaMo Home Loan that can help you start buying or building your first home. As an HC Mutual Member, you can have access to a reliable and hassle-free home loan and enjoy the following:

  • PHP 450,000 to PHP 20M loan amount per member
  • Easy application after one (1) month of membership
  • Access to our partner developers and a wide range of brand new homes
  • Payment holidays extension in case of emergencies
  • Welcome gift upon moving in and 1-year Accidental Life Insurance coverage worth PHP 500,000

It is important to choose a home loan that is practical and manageable so you won’t have a difficult time paying for it for a certain number of years. Getting a home loan can be rewarding because you can finally make your first home within reach.

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Pay Yourself First

Pay Yourself First!
Tips to boost your savings through reverse budgeting

July 11, 2023 | by HC Mutual

We have entered the second half of the year. Let’s take this time to evaluate our personal goals and how far we have come in achieving them.

“Have I saved enough money?” is probably one of the most common questions we ask ourselves, and it is always disappointing when we find that we are nowhere near our saving goals. Yet, with our current economy, staying committed to our financial goals continues to be more challenging: it is not surprising that even professionals with a decent monthly salary have little to nothing allotted for their savings account. 

If you’re one of those having difficulty building your savings, all is not lost. There’s a saving method called “reverse budgeting”, anchored on the idea of paying yourself first before anything else. This method is perfect for those who want to grow their savings and have set a deadline for their financial goals. 
What are the advantages of reverse budgeting?
1. It forces you to live within/below your means.
Do you find yourself living more expensively as your income increases? You are not alone. In fact, this tendency is quite common. With reverse budgeting, you will be forced to live within or below your means even if your income increases. This means that a bigger fraction of your income can be allotted for savings.
2. It You can achieve your financial goals sooner.
Reverse budgeting is a savings-oriented strategy. It involves planning your expenses based on how much you want to save per month. It enables you to prioritize your saving goals, commit to your saving method, and eventually acquire the goal you set for a particular period or even earlier than you planned.
3. It converts your DESIRE to save money into a NECESSITY. 
Since reverse budgeting involves paying yourself first BEFORE settling your mandatory expenses, saving becomes a responsibility every time you receive your salary. This develops your discipline and commitment in reaching your financial goals.
How do you apply reverse budgeting? 
1.Plan your way of spending based on how much you want to save.
Set how much money you want to save in a given period of time, then analyze how much you have to save monthly to reach that goal. Consider your monthly income, as well as mandatory and discretionary expenses per month.

This is also where you have to decide which discretionary expenses to remove. Discretionary expenses include subscriptions to various services, gym memberships, online shopping, and other wants that you can live without.
2. Research savings plans that can serve as good investments for you.
Being knowledgeable about your options for savings plans is a good strategy for maximizing your savings. Choose which plans work for you and which will help you achieve your financial goals sooner. This is also where you have to decide which discretionary expenses to remove. Discretionary expenses include subscriptions to various services, gym memberships, online shopping, and other wants that you can live without.

Here are some things to consider:
  • Interest rates
  • Minimum balance requirements
  • Savings type (e.g. Regular savings vs. time deposit) 
  • Automatic saving options
There’s a saying that one should not put all their eggs in one basket – and this also applies to saving. Consider opening multiple accounts so you can have more flexibility and maximize earning interest from different avenues.
3. Open a secure savings account and automate your savings. 
When you automate your savings, there’s a better chance you won’t be able to use the money for anything else, and can help make paying yourself first an easier habit.

HC Mutual provides adaptable and cost-effective plans that empower you to manage your finances and live the life you aspire. Our savings plans offer attractive interest rates and encourage you to save automatically via payroll deduction or automatic debit arrangement (ADA) – so you can easily expedite the growth of your savings and accomplish your financial goals sooner.

Select the plan that suits you best, and witness the remarkable growth of your savings.
  • Flexible payments terms of 3, 5, or 7 years
  • 3% earnings from your savings per annum
  • Easy saving through payroll deduction automatic debit arrangement, or payment through any U Store branch nationwide
LEARN MORE

Save up and earn big for that dream house, dream vacation, or dream purchase
with HC Mutual!

  • Start saving at Php 2,424, Php 4,848, or Php 7,272 per month
  • 5-year plan
  • 5% per annum after 5 years and upon completion of the savings plan
LEARN MORE

Starting and committing to a new saving method like reverse budgeting can be daunting at first. 

But with dedication to pay yourself for all the hard work that you do, 

you can eventually turn it into a habit that you won’t regret getting into. 

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Cash Loan HC Mutual Save Money Saver’s Plan Savings Plan

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