7 Meaningful gifts for yourself, your loved ones this 2023
WELLNESS You owe it to yourself to keep both your mind and body healthy. —Contributed photo
And just like that, January flew by in a flash. If you haven’t started working on any New Year’s resolution, there’s still plenty of time left to jot down key goals for the months ahead. Whether it’s losing the excess weight you’ve gained during the holidays or purchasing your first home, there is no goal too big or too small to set your sights on.
But just like in any journey, you have to begin somewhere. A good starting point is taking a long, hard look at your finances. The holidays not only brought tons of merry-making but it was also the season of bonuses. If you were wise enough to save some money from your 13th month pay, you can start your goal-setting by playing Santa throughout the year.
Sun Life Grepa suggests seven meaningful gifts to make your hard-earned money last for yourself and for others, too.
1) Reward yourself and others
After two years of being cooped up in our homes due to the pandemic, we can breathe a little easier now. It is no secret that Filipinos spared no expense in spending and traveling after all those stringent protocols had been lifted. In fact, the so-called “revenge spending” and “revenge traveling” gave the economy a boost to grow faster in 2022.
Psychologists say that simple actions like giving yourself small rewards play a crucial part in the positive feedback loop. Thus, rewarding yourself is a good habit to build. It offers good motivation to keep going and feel proud of your accomplishments. Self-reinforcement is beneficial for one’s mental health as it increases the dopamine levels in the brain, hence making you feel good. The same holds true when it comes to giving or sharing.
But there’s no need to go big every time. Every little effort goes a long way. In wanting to share your blessings, you can book your loved ones a staycation or spa retreat; treat your siblings or trusted help to a hearty meal; offer the gift of education by sponsoring a child scholar; donate to your favorite charity or to those affected by calamities and disasters; get together with a few friends and organize a charity event.
2) Pay off your debts
At first, this might seem like a daunting task. But paying off your debt gives you the peace of mind that comes with not owing anyone money. How do you the free yourself from debt? Pay off your small debts first. These small victories will help you save a little from interest rates and pay the rest faster.
3) Save or get a head start on investing
Be motivated to save, save, save! Admittedly it is more fun to spend money but tucking money away for a specific goal or simply boosting your savings is doing yourself a huge favor. Save for a house or a trip, beef up your emergency fund, or explore opening a high-yield savings account.
In addition, you can make your money work for you. Start looking into investing some of your extra funds. Check out simple investment tools such as mutual funds, where you can start investing for as low as P1,000. You can also flex your investing muscle in the stock market. Or in real estate. Perhaps your bonus can cover part of the down payment for a lot or a condominium unit to rent out for added income. But remember that it is important to always understand the risks involved in your investment.
4) Travel or follow your leisure
Enough of those throwback posts. It’s now time to cross out those travel goals that have been put on hold since the pandemic. Now that borders are reopening to welcome back tourists, it is high time to book that flight and go to your dream destination. Indulge in the gift of experience by planning a beach holiday, taking a cruise, or camping on the mountainside. Create memories alone or with your family or friends, and you will be surprised at how much physical and mental well-being serves as a great nonfinancial return.
5) Fund home renovation or a do-it-yourself home improvement project
Use your extra cash to improve your home. It doesn’t have to be a significant home improvement plan. Simply allocate a budget for minor repairs such as replacing a dilapidated roof, old electrical wires and sockets or buying new curtains. Or opt to purchase a replacement furniture or appliances such as a new smart TV or refrigerator. You can start a new hobby such as trying your hand in gardening and building a green nook in your home.
6) Invest in yourself through online courses or a new hobby
Enroll in an online course you’ve always wanted to take, whether as a happiness project or to increase your chances of getting promoted or landing a coveted job. While free online courses are aplenty, paid ones come with certificates issued by reputable institutions. You may also pay for a subscription to a professional league or a membership at your local chamber of commerce or industry association—a great way to meet new people or network to further your career.
7) Give the gift of wellness
Remember that your most important goal should be keeping both your mind and body healthy at all times. Leave those unhealthy habits behind. Don’t wait for your body to scream at you to make you change your lifestyle. Learn to prioritize your health and wellness by finally going for that gym membership, shopping for new workout gear, or paying for services that promote good health, from organic food delivery to yoga classes.
Consider investing in insurance. If you are the breadwinner of your family, then you must get one. It will be your parting gift to help them achieve their dreams even if you are no longer around. If you are still single, having an insurance at a young age also has its own privileges. Although insurance is considered as cost, think of it as buying your own peace of mind for the unseen future.
“From prevention and diagnosis to treatment and recovery, we’re there to meet our clients’ needs. On top of that, they get maximum protection through lifetime insurance coverage, providing comfort and peace of mind during uncertainty,” says Sun Life Grepa president Richard Lim.
