As a millennial, you get to experience the best of both worlds–you get to enjoy your youth and at the same time building a future for yourself. And if you want to get ahead in life, saving up and putting your money where it’s worth would do you well. If you’re not sure where to allocate your money, you might want to consider these investment options for millennials:

investment options

Small Business

If you’re still a student, and have a limited budget, this is one investment you can look into. You can start a small business with little or almost no capital. For example, you can sell your preloved items online. Or if you’re skilled at creating handmade items or baked goods, you can try selling those as well. Facebook and Instagram are great channels to start your small business.

Pag-IBIG/SSS Investment Program

If you’ve just landed your first job, you’ve most probably been asked to secure a Pag-IBIG or SSS number for employment purposes. Maximize your monthly contributions by applying for the investment programs of these two institutions.

You just need to set aside a minimum of PHP500 for Modified Pag-IBIG 2 Savings Program and PHP 1,000 for SSS P.E.S.O (Personal Equity and Savings Option) Fund. These are ideal investment schemes for millennials because they are backed up by the Philippine government, making them less riskier than other short-term investment options in the market Philippines.

Variable Universal Life (VUL) Insurance

Another investment option that millennials or people in their 20’s in the Philippines can look into is VUL or Variable Universal Life Insurance. If you’re earning a bit more and can afford to allocate a portion of your income regularly for a couple of years or so, then this product might be for you.

When you avail of this product, you don’t only get a life insurance plan that will protect your dependents when you’re gone. You also get an investment product that allows you to earn from the cash you put in monthly, quarterly, yearly — or whichever payment term you choose.

Mutual Funds

If you’re comfortable entrusting your money under the care of an expert, then you can opt to invest in mutual funds instead. First, you need to set aside PHP 5,000, as minimum investment. Next step would be choosing the company who will manage your money. During this step, make sure to research about the best investment companies in the Philippines to ensure that your money is in good hands. Your investment then gets combined with funds from other investors, which includes various financial products like stocks and bonds, to name a few.

Investing does not have to be intimidating. Everybody, even young people like you, can do it. Hopefully, the list above have made your search for the right investment clearer and less overwhelming.

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