The millennial generation isn’t quite as young as it used to be, and with the youngest millennials entering the workforce it’s entering full-on adulthood. The Filipino millennial is now faced with a rapidly changing world, with digital advancements transforming society and politics in unpredictable ways. However, the benefits of living in the digital age are also apparent, with learning opportunities and experiences available anywhere with just the tap of a finger. While adulthood is different for everyone, it’s always good to have benchmarks to check your progress, so here are five things every millennial should do before 30.
If there’s one thing millennials know how to do, it’s travel. In a world dominated by travel posts on Instagram and Facebook, it’s almost impossible to meet someone of this generation who hasn’t gone on vacation at least once in the year. The Philippine Star reports that local travel and tourism has been on a steady, upward climb thanks to millennials, and those numbers look like they’ll keep growing. Traveling broadens your horizons and allows you to experience more than just the daily humdrum of your regular life, and helps local economies as well.
Being young has its perks, and part of those perks is that you have a bit more freedom with your money. But just because you might be single and free from most responsibilities now doesn’t mean it’ll always be that way. It’s always best to prepare for the future, and the best way to do that is to save. Filipinos have the lowest retirement savings in Asia, which serves as a word of warning to millennials. Start saving as early as now, and a few decades down the road you’ll definitely be thanking yourself.
Learn Another Language
In the Philippines, being bilingual or even trilingual is pretty much the norm. With over 170 languages and hundreds more dialects across the country, juggling multiple languages is as easy as putting on a hat. For millennials who want to get a little bit more out of life, however, it wouldn’t hurt to add another language to your repertoire. The Telegraph reports that speaking two or more languages offer several benefits, including increased intelligence, multitasking skills, and lower chance of dementia. The benefits far outweigh the cons, so pick up that Duolingo app and get started!
Get Health Insurance
Rising health costs are one thing that many millennials dread, and the best way to ensure financial security in times of emergency is by investing in health and life insurance. This article in Business Mirror states that out-of-pocket health expenses keep pushing Filipino families into poverty, and health expenses grow at an estimated 8% per year. Avoid falling into this trap by getting a health insurance plan that’s right for your lifestyle, and rest assured that you’re protected no matter what.
As the stereotype goes, millennials are infamously bad with money, but that doesn’t always have to be the case. While investments may seem like a daunting task for anyone new to the field, they can actually be pretty easy once you get the hang of it. The typical path is to invest in stocks and bonds, but millennials can also take advantage of their digital knowhow by investing in cryptocurrencies such as Bitcoin. If you’re not sure exactly where to start, Daydreaming in Paradise has a primer on blockchain technology in the Philippines that’ll get you up to speed fast. It discusses what exactly blockchain is, the state of blockchain and cryptocurrency in the country, as well as ways the technology could be used in the Philippines. For newbie investors, this article is a good round-up of the potentials of the technology, trends, and possible investment opportunities as well.
For more of life’s tips and tricks, check out the Lifestyle category on Travel with Bes.