Millennials are those who were born between 1981 to 1996, from age 24 to 39, and called the YOLO generation. These people live each day like it is their last and do not delay the present life’s moments. In other words, they like to squeeze out the juice of their everyday life. Millennials like to take frequent vacations, rely on Google for information rather than asking their parents or the elders for some advice, choose wine over beer, or use credit cards rather than pay in cash.
The YOLO philosophy has its bad and good consequences. What’s important is you know how to balance things. Here are some mistakes that you should avoid doing now to prevent lifelong regrets.
Eating out or buying meal boxes is easy but it’s taking a large chunk of your budget. Meal preparation at home can save you money and can give you good health benefits because you can choose healthier ingredients. Planning ahead is the key if you want to break the fast food. It may be difficult and overwhelming at first, but you have to start it.
Delaying marriage for some young adults is the key to lasting happiness. They want to take their time to get things in order before tying the knot. Marrying late has its disadvantages. For example, if you have been single and independent for a long time, it will be difficult for you to adjust to your partner or if you are a woman in the mid-30s you might rush to have kids because time's ticking and the menopausal is waving. Getting married is a huge step and there’s no really perfect time for it. But if you think you have found the person that could make you happy for the rest of your life and you are both settled financially and emotionally, then there’s no more reason to delay. Get hitched!
Prioritizing the need to travel is what most Millenials do instead of opening a savings account. They prefer frequent trips of shorter durations to countries like Singapore, Hongkong, Dubai, Japan or Australia. Traveling overseas can give you lots of experiences and it’s actually good for you. But, remember setting aside a portion of your income for your savings and future does not deprive you of enjoying life.
Death is inevitable. What if you live longer and have not prepared for your future? Planning is fundamental to have a stable tomorrow especially now that you are getting older. You need to have a protection that will secure those people who are financially dependent on you like your parents or maybe your future family.
Paramount Direct has launched its newest product called Go Protect Plan, especially designed for 18 to 60 years old. It’s a Life insurance product that provides your beneficiaries with Life Benefit up to P600,000. You may opt to add Accidental Death Benefit Rider and Waiver of Premium Benefit Rider for wider coverage. The monthly premium starts at an affordable rate of P353.
YOLO should inspire young adults to live their life with a purpose. Strategize, plan and think about how you can achieve sustainability even when you are gone. Apply for Go Protect Plan now!