We work hard to earn a lot in order to gain financial freedom. For some, financial freedom is the ability to spend whatever one wants and live the lifestyle he yearns. Others look at it as the opportunity to support their loved ones without worrying much of the future. There are still others who deem it as having the wealth without having to work too much for it.
People have different needs, wants and priorities. According to Michael Gustilo, Regional Sales Manager for Visayas of Sun Life Canada, during the #LiveBrighter forum in Bacolod City, people may dream of owning a car, building a house, sending their kids to good schools, retiring from a job, or traveling the world. The latter is something close to my heart, and I’m sure there are also many out there who loves to explore other places.
The Banko Sentral ng Pilipinas (BSP) or Central Bank of the Philippines revealed that “Financial education is indeed an imperative, considering the country’s low financial literacy levels. A demand-side survey shows that Filipino adults can correctly answer only three (3) out of seven (7) financial literacy-related questions covering basic numeracy, computing compounding interest, fundamentals of inflation, and investment diversification. Only two per cent (2%) of Filipino adults answered all questions correctly. The study also showed that Filipinos lack specific knowledge to make informed financial decisions. However, the same study indicated that money management habits formed in childhood stay into adulthood. Those who began saving as children display better attitudes to saving, and tend to outperform their counterpart group who did not develop the habit early in the areas of choosing financial products and services, monitoring expenses and planning for retirement.”1
While financial literacy and education are not “yet” taught in our primary schools, I am one of the fortunate students who had a laboratory cooperative for savings in our school. La Consolacion College-Bacolod is active in the cooperative movement and it was embedded in my education as we had a mini-bank at school. We had passbooks since 4th grade and we were encouraged to save daily, even in small amounts. But it seemed that this is no longer part of the current curriculum of the school.
This is one of the reasons why Sun Life sees the need to contribute to educating Filipinos about financial management. However, that means having more financial advisors who can assist individuals understand how they can multiply their finances wisely through proper investing. In the Visayas area, there are only around 1,500 Sun Life financial advisors.
Why be a Sun Life Advisor? Sun Life enumerates a few more perks:
- It’s a noble and fulfilling profession. You can make a positive difference in the lives of others by helping them fulfill their financial goals.
- Sun Life is a professional agency with a bright legacy. You can shine your brightest because you are with a good company. Sun Life is the number one and the longest-standing life insurance company in the Philippines.
- It is rewarding in compensation and generous in time. As a Sun Life Advisor, your earning potential is limitless and you can also enjoy the flexibility of time.
- Most of all, it allows you to see the world. A job well done is rewarded with a trip to exotic continents and exciting destinations.
I must admit that financial freedom can enable one to travel and see the world. Such freedom can be achieved by investing our finances properly and choosing a career that can reward you generously.
Hmmm… Pretty interesting, right? Let me know your thoughts below.
*The author was invited by Sun Life of Canada to cover their event.
1 World Bank (2015). Enhancing Financial Capability and Inclusion in the Philippines: A Demand-Side Assessment from http://www.bsp.gov.ph/publications/media.asp?id=4687.