4 Ways on How You Can Start Funding Your Passions in Life
Passions are the things that make us feel alive and fulfilled. They give us a sense of purpose and drive us to achieve our goals. However, pursuing our passions often comes with a cost, both in terms of time and money.
According to a study by CIMB Bank Philippines with the Ateneo Business Resource Center and Milieu Insight, financial limitations have been the biggest roadblock for 1 in 2 Filipino millennials in achieving their life purpose.
We’re here to give you four different ways to start funding your passions so you can achieve your life goals and live your purpose.
1. Explore grants and sponsorships
If you are looking forward to pursuing an interest or a career in an academic environment, sports, or advancing your skills, exploring grants and scholarships are a great way to obtain funding for your passion. Various organizations and companies provide grants and sponsorships to individuals and groups pursuing specific fields. These grants can be in the form of financial assistance, scholarships, or opportunities for exposure.
2. Open a high-interest savings account
Opening a high-interest savings account can be an excellent way to save up money for your passions. These accounts offer higher interest rates than regular savings accounts, which means you can earn more money in your savings. You can start setting aside a portion of your income into your account regularly to accumulate funds over time to invest in your passion.
3. Take out a loan or credit line.
Taking out a loan or credit line is another way to fund your passions.
Personal loans and credit lines can provide you with the financial resources to invest in your passions. However, it's important to note that taking out a loan or credit line means you need to be responsible with your payment deadlines. It's essential to consider your financial situation and to always pay your dues on time.
4. Try side hustling or freelancing.
Side hustling or freelancing can also be a great way of earning additional income that can be used to fund your passions or interests. It can be a way of working on projects that are related to your line of work or can be of different interest to you. It also creates an opportunity to refine or develop your skills, and even build relationships with professionals who can help in pursuing your goals.
Financial constraints may be a challenge in pursuing your passions in life, but it should not hinder you from achieving them. By following these tips, you can fund your passions and achieve your goals in any field you are interested in. Remember that investing in your passions is an investment in yourself and will lead you to live a life filled with purpose.
With CIMB Bank, you can now start funding your purpose! Watch your savings grow with the yearly base interest rate of 2.5% p.a. for UpSave accounts and 2.6% p.a. for GSave accounts. You may open an account right on your mobile phone in as fast as 10 minutes. You can also earn a higher interest of 4% p.a. on your existing Average Daily Balance (ADB) and 8% p.a. on your additional deposits, inclusive of base rate and other promos.
Click the link below to learn how you can earn up to 8% p.a. interest on your savings:
Deposits are insured by PDIC up to P500,000 per depositor.
CIMB Bank Philippines, Inc. is regulated by the Bangko Sentral ng Pilipinas as a Commercial Bank. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or firstname.lastname@example.org.