Have you ever felt scared to save or invest? It’s not unusual to fear saving because when we save, we also sacrifice and miss out on some experiences. It’s not unusual to fear investing too, because investing involves risks that are shaped by economic and political factors we cannot control.
This Christmas, many Filipinos will be out there shopping and if you are one of the few who will invest their 13th month pay or bonuses instead of spending it – it’s not surprising to feel that you are missing out on the fun of Christmas shopping. Then, you check on Facebook and you see a lot of people in disagreement over political issues dashed with several speculations on where the Philippine stock market is heading. Hay naku! Baka mas mabuting nag shopping nalang ako. But should we allow fear of missing out, fear of uncertainty and fear of failure in general to stop us from investing for our dreams?
“My mom always had big dreams for us. She was not afraid to dream. Growing up, we shared the same attitude and practiced dreaming big. Unlike other millenials, I am not afraid to invest and instead, focus on achieving my own dreams fast.” – Ysa Benitez, Financial Advisor at Insular Life
Licensed Financial Advisor, Ysabel Victoria Benitez of Insular Life says, “Oftentimes, it’s our fear of failure that tells us to stop dreaming or to downgrade our dreams to make it more achievable. But I still believe that everything can be achieved with planning, hardwork and faith.”
3 Tips to Overcome Fear of Investing
1. Your dreams should be bigger than your fears – Ysa adds that when you dream, dream big! For us moms we can dream of sending our children to the best university. Dreaming big inspires us to focus on the outcome of our hardwork and sacrifice rather than our fears. Dreaming big also pushes out to move away from our comfort zones and try different approaches in order to succeed – this includes, tip number 2 which is learning more about financial products.
2. Learn & understand the risks – financial advisors like Ysa thinks it’s riskier not to invest. Why? When you store money in the bank, they lose value because of inflation. Hindi lumalago ang pera mo habang patuloy ang pagtaas ng presyo. This means that your money’s value becomes less overtime and you won’t be able to afford the things you can afford today in the future. Mas nakakatakot nga yon!
I have been using the Insular Life Finance Manager app and it has helped me visualize the advantages of saving and investing. Click on the financial planning option on the menu and it will illustrate how your money can grow when you invest in a financial product.
3. Increase your financial literacy – we cannot discount the value of having a personal financial advisor but, taking the time to update ourselves with the economic trends will surely give us a sense of empowerment. Tune into programs like ANC’s Market Edge (everyday at 9.30AM) and ANC’s On The Money (everyday at 10.30AM) – these shows are a quick and easy way to up our financial literacy and help us discern if our fear is reasonable or not. It will also inspire us to participate and grow with the economy.
These same tips are my current inspiration to keep plowing through the last days of 2016 and make sure that I finish it with a positive mark on my budget or personal spreadsheet!
What about you? How do you manage your fear of investing? If you would like to consult a financial advisor on how to start investing, you may contact Ysa Benitez at ysabel.o.benitez@gmail.com.
Keep calm and carry on investing Mommy!
