The new year is a time to start over, with the hopes of bringing prosperity, success, and more wealth in the coming months. And as we welcome 2024, improving one’s finances is part of many Filipinos’ New Year’s resolutions. To help you achieve a more prosperous year, Metrobank shares four smart money moves that are easy to follow as you manage and grow your funds:
1. Manage your money efficiently with online solutions
The first step to improving your finances is efficiently managing it. A good way to start is by moving your transactions online, if you haven’t yet.
Metrobank provides clients with online solutions such as the Metrobank Online site and app, and the electronic Statement of Account (e-SOA) to help them manage their funds easily and efficiently.
The Bank encourages its clients to use the Metrobank App to monitor and manage their funds real-time. With the new app, you can see your account balance, withdraw cash even without an ATM card; send money via QR, link your credit card and use it as the fund source for your financial transactions; or even convert your remaining credit card balance to instant cash. On top of all these, you can enjoy FREE InstaPay transfers for transactions PHP 1,000 and below until June 30, 2024. This makes banking even more convenient – and you can even save a few pesos with waived transaction fees!
When you’re ready to experience smart, simple, and secure banking-on-the-go, download the Metrobank App on the Apple App Store for iOS, Google Play Store for Android, or App Gallery for Huawei.
Metrobank also offers the e-SOA to its depositors to closely monitor their monthly deposit with just a few taps on their device. They simply need to log in at https://statements.metrobank.com.ph, using their Metrobank Online log-in details to view their monthly cashflow.
2. Use your credit card for big purchases (and rewards points!)
A credit card, when used responsibly, is a smart money tool that can help you manage your budget efficiently. It can also help you get awesome perks that you would not receive when you pay with cash and you should take advantage of them.
Credit cards have offers like installment payments at 0% interest rates that can give you some flexibility on paying for big purchases. Paying for your essentials via credit card is also much smarter than paying with cash because it allows you to earn points or even miles as you spend. Another plus is that credit cards have great tie-ups with some of the biggest stores for you to enjoy discounts and rebates for future use.
But to experience its full benefits with zero worries, ensure that you’re always able to pay your credit card bills on time.
If you don’t have a trusty credit card yet and want to make the leap in the new year, you can get started with a Metrobank card that’s convenient and rewarding. Find out how to apply for one here.
3. Make your savings work harder for you
If you want to grow your money, but are a bit apprehensive about dipping your toes into risky investment products, Time Deposit is an ideal option for you.
Compared to other forms of investments, time deposit takes on minimal risks, and offers guaranteed returns. Deposits are also insured by PDIC, with up to PHP 500,000 per depositor – ensuring that your money is well protected. The interest you get depends on two things: the amount of money you put in called your principal, and the length of the time or term you wish to set aside your cash. The larger the amount and the longer the term, the higher the interest rate you enjoy.
A good option to consider is Metrobank’s Online Time Deposit (OTD) product, which features an easy sign up process online, short term period spanning from 1 to 12 months, and one of the highest time deposit interest rates among banks starting at 4.125% p.a. That grows faster than you realize, especially when you leave it for more than a month! You can do this via Metrobank Online, or through Earnest, if you haven’t signed up yet.
4. Go bigger with your money by investing in bonds, stocks, and other funds
So you’ve thought about growing your money by saving it in time deposit accounts, but you might have a bigger appetite for higher returns, and are willing to take more risks.
Metrobank offers a suite of options that fit your short, medium, and long-term financial goals, risk tolerance, and asset allocation preference.
You can avail of investment products like corporate bonds issued by companies with sound financial performance. These offer higher returns than comparable government securities. Should you prefer not to directly pick securities and want to rely on a fund manager to do so, you may consider Metrobank’s UITF products that can give you access to domestic and international assets, or mutual funds offered by the bank’s affiliate First Metro Asset Management (FAMI). Meanwhile, another Metrobank affiliate, First Metro Securities, can give you access to equity investments through their online trading platforms or with the assistance of their expert brokers.
Whatever your money goals are in 2024, trust that Metrobank has you in good hands and can help you achieve them!