The temptation to spend your money on non-essentials can be challenging to resist, and each time you fall for it, the longer you have to save up for the things you really want and need. Thankfully, there are plenty of online budgeting and digital banking tools that can help you build the discipline you need to stay on track with your short-term financial goals.
It’s ideal to use tools offered by the best digital bank Philippines customers trust. This ensures that the tools come with features that can make your budgeting experience as easy and convenient as possible. One financial institution that you can rely on is Maya. As a reputable digital bank in the Philippines, Maya offers a range of banking products that can help you fund your financial goals. Maya Personal Goals, for instance, lets you budget and organize your money for the things you want in life. You even get to manage up to five goals at a time for up to six months, and each goal is guaranteed to earn a 4% p.a. interest credited monthly. Plus, your goals are safe and secure because this product is regulated by the Bangko Sentral ng Pilipinas (BSP), and deposits are insured by the Philippine Deposit Insurance Corporation (PIDC) by up to PHP 500,000 per depositor.
With all that said, you can rest assured that you can use Maya Personal Goals to do the following without hassle or worry:
Boost Your Emergency Savings
Life is unpredictable, so having a financial cushion can make a significant difference during unexpected events such as medical emergencies, car repairs, or sudden job loss. A well-stocked emergency fund typically covers three to six months' worth of living expenses, making Maya Personal Goals the perfect solution to help you gradually build your emergency fund over a short amount of time. Simply set a realistic target and regularly contribute towards this goal. As your savings grow, you’ll gain peace of mind knowing you have a financial buffer to rely on in times of need.
Pay Off Small Debts
Paying off small debts is another smart short-term financial goal. Whether it’s a credit card balance, a small loan, or an outstanding bill, eliminating these debts can improve your financial health and increase your disposable income. Managing multiple debts, however, can be daunting. Fortunately, with Maya Personal Goals allowing you to manage up to five goals, it’s easy to stay organized.
Buy New Gadgets
Whether you need a new smartphone, laptop, or smartwatch, saving up for new gadgets can be a rewarding short-term goal. However, instead of relying on credit, which can sometimes accrue a huge interest that you need to pay, you can use Maya Personal Goals to set aside funds specifically for this purpose. This way, you can create a timeline for your savings and break down the total cost into manageable monthly contributions. This saving method not only makes your purchase more manageable, but it will also allow you to enjoy your new gadget debt-free.
Purchase Concert Tickets
Attending concerts and live events can be an exciting experience, but ticket prices for these can sometimes be steep. Setting a goal to save for them ensures that you can attend these performances without straining your budget. Research the concerts you’re interested in and estimate the total cost, including any additional expenses such as travel and accommodation, if needed. With Maya Personal Goals, you won’t have a difficult time saving up for all these expenses, thanks to its guaranteed 4% p.a. interest rate credited monthly.
Go on a Shopping Spree
A shopping spree can be a fun and satisfying way to reward yourself, but it’s important to approach it with financial responsibility. Whether it’s updating your wardrobe, buying gifts, or indulging in luxury items, planning and saving for a shopping spree can make the experience more enjoyable and stress-free. Maya Personal Goals helps you set aside a shopping spree fund so that when you finally go shopping, you’ll have the satisfaction of knowing you’ve planned and saved for it, making your purchases even more gratifying.
Enjoy an International Holiday
An international holiday is a fantastic short-term goal that can provide unforgettable memories and broaden your horizons. However, traveling abroad can be expensive, so it’s wise to save up in advance. Once you have a budget in mind, divide the total amount by the number of months until your planned departure date. Place a fixed amount each month in your Maya Personal Goals to gradually accumulate the funds needed for your trip.
Throw a Birthday Bash
Whether it’s a milestone birthday or just a special celebration, planning a memorable birthday bash requires careful financial planning. The costs of hosting a party, booking a venue, and arranging entertainment can quickly add up. By using Maya Personal Goals to save for your birthday celebration, you can ensure everything goes off without a hitch.
Take Upskilling Courses
Investing in your professional development is always a wise decision, and taking upskilling courses allows you to gain new marketable skills that can expand your career horizons. Identify the courses or certifications you’re interested in and research the associated costs. Use Maya Personal Goals to create a savings plan to gradually accumulate the necessary funds. With this structured savings approach, you can afford to take courses without causing yourself financial strain, leading to personal growth and improved job opportunities.
Create a Maya Savings account today and take advantage of banking products that can help you reach a more secure financial future. Apart from Personal Goals, you can also open a Maya Time Deposit Plus account to save up for the things you want and need by locking in your funds for 3, 6, or 12 months. If you have any questions about our products and services, visit our Contact or Help & Support pages.
