How to Teach your Siblings to Save and Invest

What does it take to push people to save and invest? For me, it doesn't have to be a hard sell. You have to be the best example yourself. You have to be the living proof that saving and investing really works, and that, it's easy if you have the right mindset.

My brother graduated from college last year. He had a hard time looking for a full-time job that would let him earn his first salary. Almost a year after, he finally got something he can make himself busy with and actually earn.

Since he's single and doesn't have any obligations and bills to pay yet, I told him to manage his finances well. But, as a kuya who's been through his phase, I felt the need to be extra pushy when it comes to managing his finances. I can't just tell him to do something and expect that he was able to get it right away. I've been there. I know how clueless most fresh graduates are in terms of managing their finances.

I taught him how to do budgeting so every time he's getting his salary, he needs to separate the money intended for his SSS, savings and other expenses. For his savings, I told him to deposit it immediately to his bank account so he won't be able to touch it when he felt the urge to do so. I even had to teach him how to inquire and withdraw money through an ATM. Next step is to teach him how to do online and mobile banking so he could conveniently check his account's balance over the internet.

Yesterday, I asked a good friend who's also an advocate of financial literacy and an associate financial planner in one of the leading insurance companies in the Philippines, Pru Life UK, to meet my brother and discuss the best insurance and investment package fit for him. I've known Jay Delos Reyes for a long time and I can confidently vouch for his professionalism and passion. I know that he's not just after his commission. He'll give his best assessment with utmost honesty and integrity.

I'm not promoting Pru Life UK nor my preferred financial planner. I just want to give credits where it's due. What I'm trying to point out is that if you really want people to succeed, you have to be the best example for them. And if you need people to back you up, bring the best people you know of.

My brother is just starting his post-college journey. This is his first job. He'll probably move to a different company after a year or so and get higher pay. He'll probably get his first bill, first credit card, first car, and other many firsts soon. All these bills are inevitable. We all have our own experiences trying to be working adults ourselves. But, I want him to learn the basics of saving and investing at this point in his life. It's like building a baseline. Everything's going to be complicated soon so he might as well develop this habit while things are still easy to handle.