Community, Taoke (Business)

I cannot commit!

Not to fear, according to Chinoy financial advisor and legacy architect Sheila Ong.


Are you afraid of commitments?

“I cannot commit!”, a Chinoy millennial said to me two days ago.

She is working abroad and she fears that she might want to come back home to the Philippines as she misses her family badly.

Change nowadays is very fast and with the current pandemic, the future is full of uncertainties.  A Chinoy would like to have a life insurance coverage to protect her family and also to ensure her retirement funds but hesitates because of the future premium commitments that he or she needs to make.

Are these your current concerns too?

  • Fear of redundancy at work.
  • Fear of a family emergency.
  • Fear of life changing events (like getting married or having a child).

Yes, these uncertainties are a concern and can affect your budgeting resulting in you not being able to fulfil your commitments to your life insurance coverage.

Here are some tips on how to manage this concern.

  1. Start small.

Start small and invest the excess funds to be allocated for future premiums.  In this case, it is as if you already fully paid your future premiums.  The good thing here is that the excess funds are growing.

  1. Law of attraction.

Do you believe in that?  I do.

In our subconscious mind, we are thinking of the committed amount that we have made.  Subconsciously, your mind is thinking already on how to fund it or source it.  You tend to prioritize this obligation, you set aside money for it and you are not aware that it has already become a habit.  And then, you will be surprised that you can now save more money than before.  It’s magic.

I started saving Php 10k per year at age 22, slowly increased to Php 40k per year, then I doubled it and now quadrupled it and so on.

I’m sure you can do this too.

Do not limit yourself.  Think big.

  1. Develop the habit of budgeting.

Always identify your needs and wants.  Having obligations helps you to become more responsible in spending.  Before purchasing anything, assess and evaluate if you really need it or not.  Usually, if you do not have any commitments, the tendency is to be careless in spending.  You keep on buying what you want or things that attract you.  Most of the time, it turns out that you don’t need it pala

Having a commitment on yearly premiums helps you become more disciplined in your spending habits.

As for me, I intentionally increased my yearly premiums to discipline me in saving and to not become a reckless spender because I can be one especially if the “Sale” is around the corner.

If you find these tips helpful, feel free to share this article to your families and friends.

Sheila Ong is a legacy architect.  She helps Chinoy families plan, design, and build their financial homes by not only creating a strong financial foundation but also peace of mind, allowing families to do what matters most, which is to have more time to spend with each other. It’s her passion to empower each Chinoy family to create a legacy of love from one generation to the next through proper wealth management. As a naturally shy person, she evolved into becoming a public speaker driven by her advocacy. She has transformed many lives, including the lives of her team of financial advisors and the lives of about 400 families who are now financially secure.  Sheila also values family time as she is a full-time mom to her son.

If you want to know more, you may send her an email at For more information, you may also check out her website, and Facebook page,, and subscribe to her newsletter here.

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