personal finance tips

GCash teaches first jobbers what to do with their first paycheck

GCash teaches first jobbers what to do with their first paycheck
Its new webinar series tackles saving and investing for beginners

Editor’s note: GCash’s webinar series Money Talks featured different influencers sharing their own experiences in their latest episode. Find out more from their press release below

One of the most exciting parts of getting your first job is the feeling of receiving your first salary. Whether it goes into your savings account or straight towards spending for your passion, that first taste of real, hard-earned money can be truly gratifying. 

Unfortunately, being a working adult usually also means being more responsible and conscientious over what you’re spending your monthly salary on. Just because you have this newfound freedom to buy more things doesn’t mean you should be exercising it more freely. You should still consider making wise and practical decisions because how you manage your first finances as early as now will determine your larger goals in life like taking the trip of a lifetime, buying your own car, moving to your own place, or starting a business. 

If you’re not entirely sure what to do with your money when you get it, let’s start with the first step: Do you know what you should do with your first paycheck? 

This was the main topic of discussion of GCash Money Talks: First Job to First Investment, G Na”, a webinar that aired recently on GCash’s Facebook page. The episode featured Antonette Aquino, financial advisor and founder of Money Health Check who discussed topics such as how much young people should spend and save and practical ways of investing and managing their funds. 

According to Antonette, the first thing to do as you receive your first ever salary is to “pay yourself.” “If you save your money from the beginning, then it will be easier to eliminate your guilt as you spend,” she said. “You can start small by doing the one-peso challenge. It doesn’t take a lot of willpower, but the idea behind it is you can develop the habit of saving.”

It also helps to set a goal so you can consider long-term financial security funds such as an investment, like how she does it. “My turning point is I won’t be able to grind when I’m old as much as I do now in my twenties. This is a kind of goal-based investment. You need to know your ‘Why’s.’ ‘Why do you save?’ ‘Why do you invest?’ Only then you’ll know the ‘How’s of it,” she added.

A little worried about the risk that comes with it? Aquino admitted she was also hesitant to invest at first. Among the stock market misconceptions and fluctuations, her biggest concerns were its intimidating technicalities and inaccessibility.

Good thing GCash, the leading mobile wallet in the Philippines, has innovated a new way to help grow your money through GInvest, the first-ever digital investment platform on GCash that allows Filipinos as young as 18 years old and with a valid ID, lets you explore easy ways on how to save for your passions and achieve your life goals by investing and conveniently growing your money through a tap on the app. A fund manager, from ATR Asset Management Group (ATRAM), an established investment firm, will do all the work for you, including strategizing your account and investing your money in different assets.

GInvest offers a simple interface that has all the information about different funds you can avail of with just P50 (for local funds) and P1,000 (for international funds). You can also take a risk assessment profile backed by local asset management companies, ATRAM Group and SeedBox Philippines Inc., to determine if you’re a conservative, moderate, or aggressive investor.

If you want to jumpstart your GInvest journey, always remember these two things: be consistent and diversify your fund. “Investing is a mix of discipline, conviction, and knowledge. If you know your goals, income, timeframe, or capital, you can create your own strategy that works for you in the long run, so you won’t miss out on potential returns,” Aquino said. “Whether or not the market goes down, you know you can stick to your original financial plan.”

GCash and GInvest continue to help pave the way for Filipinos to get in the habit of saving and growing their money through investments easily, efficiently, and conveniently. 

GCash Money Talks is a series of webinars hosted by GCash aimed to help customers, specifically young adults, unlock their financial goals to experience their passions, and teach them the ropes on how to invest and grow their money using GCash. It also aspires to empower the youth to gain financial freedom even at a young age. GCash Money Talks: First Job to First Investment, G Na also featured social media influencer Rain Matienzo, TikTok superstar Marvin Fojas, and entrepreneur/motivational content creator Ayn Bernos who also shared their experiences on budgeting and how they manage their finances. 

You may watch the full episode here. Catch the next GCash Money Talks episode “Pag-invest para sa pangarap ng pamilya, G pa rin!” at 8 pm on September 16, 2021 where you can learn how to build a financially secure future for one’s family and reach one’s goals through the power of a strategic investment.

To learn more about the GCash Money Talks and more information about GInvest, you may visit GCash’s Facebook page, https://www.facebook.com/gcashofficial/. – Rappler.com