Taxes. Budgeting. Investing. These topics aren’t usually fun or exciting, especially for young adults. But once we hit the real world, we quickly realize the importance and impact of financial literacy. Sadly, a lot of us didn’t learn these necessary skills in school.

Thankfully, there’s no age limit when it comes to learning how to manage your finances. Plus, we just found a game that’s helping us catch up. Sun Life’s Play for Life: A Game of Choices is a free, single-player game that allows Filipinos to experience real-life financial scenarios through engaging gameplay.

Here are eight lessons from this interactive game:

Set a financial goal

What is it that you want to save for? Is it for business, a well-deserved holiday, or your retirement fund? Setting a financial goal will help you have more control over your finances. You become more aware of your decisions, the amount you should be keeping, expenses, and savings – so you can reach your goals.

Make your money work harder for you

If you can afford it, put your money into different investments. In the game, our character invested in stocks, and when the market was up, he earned an extra P30,000. Plenty of digital banks offer high rates, too, so that’s somewhere you might want to put your money on as well. Find channels where your money will grow, and your future self will thank you.

Be wary of budol deals

It’s easy to fall into sulit deals during big online promos like the monthly double-digit sales. But when you think about it, it happens every month – what you believe is an item you need right now will just go on sale again next month. It’s also impractical to keep buying indiscriminately, as your purchases will pile up unused. It’s best to use these deals when it’s time to replenish essentials, such as toiletries, vitamins, and laundry items.

When you receive money, settle the essential payments first

Make paying for your monthly expenses a priority. These bills aren’t going to settle all by themselves, so be responsible and always set a budget for them before putting your money elsewhere.

Always pay your credit card dues on time

Credit cards get a bad rep in the Philippines. Many Filipinos still believe that having a credit card will put you in debt. But that’s only true if you’re spending way beyond your means. As much as possible, always pay your credit card dues in full to avoid interest piling up. Remember to kaskas wisely because credit cards offer excellent benefits, too, such as cashback, travel miles, access to lounges, and more.

Consider other streams of income

Who knew that you could earn while doing something you’re passionate about? You can monetize your hobby as a side gig or consider becoming a Sun Life Financial Advisor.

When the opportunity to earn and save more presents itself, grab it! If you don’t know where to start, list things you enjoy doing or are good at. However, you should only do this when you still have the bandwidth for it. Otherwise, you might burn out.

Prioritize your mental health

Having a financial goal doesn’t have to be so strict. We’re all human; we get tired. The game had “Mental Wellness” stars. When they got too low, a little TLC would fix it.

Have a date night with your partner, or go on the much-awaited holiday with your barkada – you deserve it! But make sure you’re also responsible for your expenses. Set a budget and make sure you don’t overspend. It will also help when you’re open with your friends or partner; communicate well and let them know you have financial goals and responsibilities. This way, you won’t feel the need to make impulse purchases and still have a good time.

Always save for a rainy day

Aside from having a budget for recurring bills, you must set aside money for “Life Happens” situations such as medical emergencies, delayed payments from your side gig, or welcoming a new family member. These unforeseen circumstances will dent your savings, so you should have funds to cover them.

Consider getting affordable insurance first. When our character got promoted, they finally had the extra funds to future-proof their life, so they decided to get a SUN Smarter Life Classic — a protection plan that provides double life insurance coverage throughout your lifetime and living benefits that you can use in case of emergencies or immediate need for cash. So when another “Life Happens” situation presents itself, you’re guaranteed you won’t touch your savings and stay on track of your financial goal.

Who knew that learning about financial literacy can be easy and fun? Want to try the game yourself? Play it online here or talk to a Sun Life financial advisor to play the tabletop board game. You can also play the life-size version of the game at Sun Life’s upcoming mall activations in SM Lanang, Davao, from August 24 to 25, 2024, and SM Iloilo from September 7 to 8, 2024.

Have you tried the Sun Life Play for Life game?

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