Setting financial goals while you’re still in college or attending university might not seem like a priority when you’re busy juggling classes, a social life, and possibly even part-time work. However, being clear about what you want to achieve with your money early on can make a big difference down the road. It helps you develop good habits, reduce unnecessary stress, and start building a safety net that will support you both during school and after graduation.
That said, it’s easy to get ambitious and set goals that sound impressive but aren’t truly achievable given your current situation. Having the right tools can also make all the difference between a realistic goal and one that’s out of reach. That’s where Maya comes in. As the #1 digital bank in the Philippines, Maya offers convenient savings options designed to help you more efficiently work toward your financial goals. Plus, opening a Maya digital bank account is simple, as it requires only one valid ID and no maintaining balance, making it especially accessible for students.
Not sure where to start? We’ve put together a list of simple yet worthwhile financial goals that college students like you can begin working on today.
1. Open and Grow a Dedicated Savings Account
Opening a savings account is one of the simplest yet most effective ways to build your financial foundation, making it a smart goal to pursue early on. Keeping your savings separate from your everyday spending money helps reduce the temptation to dip into funds meant for future goals. Many savings accounts also earn interest, allowing your money to grow passively over time.
That said, not all banks offer the same interest rates, with some being significantly better than others. In particular, Maya Savings stands out for providing a high base interest rate of 3.5% p.a., which is already way above what most traditional banks provide. You can even boost that rate to an impressive 15% p.a. simply by using Maya for everyday transactions, such as buying prepaid load, paying bills, or completing online purchases. With Maya Savings, you can grow your money faster and more reliably while enjoying the convenience of managing everything digitally.
2. Establish an Emergency Fund
Setting aside money for unforeseen expenses like a medical bill, a broken phone, or school-related costs is one of the most practical financial goals you can work toward. Life doesn’t always go as planned, and having an emergency fund means you won’t have to scramble for cash or rely on your parents when the unexpected happens. It also gives you a sense of independence and control over your finances, even in stressful situations.
Ideally, your emergency fund should be kept in a secure and trustworthy bank. Maya is a great choice, as it’s a Bangko Sentral ng Pilipinas-supervised financial institution (BSFI) and offers robust security features like Face ID or fingerprint login, along with one-time passwords (OTPs) for new device logins or large transactions. With these safeguards, you can rest easy knowing your emergency fund is well protected. The Maya app also makes it easy to manage your emergency savings and transfer money to your Maya Wallet, keeping your funds both safe and readily accessible when needed.
3. Purchase Tools That Boost Your Academic Success
Setting a financial goal to purchase a gadget or tool that supports your studies, such as a laptop, tablet, or course-related equipment, is an excellent way to invest in yourself. Such tools can make studying and working on school projects more efficient and enjoyable, which often translates to better academic performance. By making this type of purchase a financial goal, you’re learning to direct your money toward things that add real value to your life.
To help you reach this goal more effectively, consider using Maya Personal Goals. It allows you to create up to five separate goal accounts where you can set aside money specifically for the tools you want to buy. Each goal earns a guaranteed 4% interest p.a., giving your savings for that new laptop or study aid a significant boost and helping you reach your target faster. Once a personal goal is completed, the funds are automatically transferred to your Maya Savings account, allowing you to proceed with your purchase without delay.
4. Launch Your Own Small Business
If you’ve ever dreamed of launching a small business, such as online selling or starting a food prep service, know that it’s entirely possible with the right financial goals in place. Setting a target to save enough money for supplies, marketing, or equipment turns that dream into a concrete plan. This goal encourages you to be proactive, entrepreneurial, and self-reliant, which are all valuable traits for any aspiring business owner.
Saving capital can be challenging, however, which is why having a digital bank that offers high interest rates and motivates you to keep your funds untouched can make a big difference. Maya Time Deposit Plus is one such solutions, allowing you to open up to five accounts with flexible terms of 3, 6, or 12 months. Each account earns a guaranteed 3.5% interest p.a., which you can boost to 5%, 6%, or 5.5% for each term, respectively, by reaching your target amount and maturity date. This not only helps your future business funds grow faster but also encourages you to keep your savings intact to maximize your returns.
5. Fund a Travel Plan or Personal Growth Experience
Saving up for a dream trip, workshop, or other meaningful experience can be just as important as saving for material things that add value to your life. These experiences broaden your horizons, expose you to new cultures or ideas, and help you recharge mentally and emotionally. Setting a financial goal for travel or personal growth activities encourages patience and discipline while allowing you to enjoy life along the way.
This kind of goal also helps you see money as a tool for creating lasting memories, not just for covering everyday expenses. By balancing saving with spending on experiences that bring joy and growth, you develop a healthier relationship with money. That balance boosts your overall well-being and inspires you to continue working toward your financial goals.
Setting financial goals early isn’t just about growing money; it’s also about building habits that empower you for life. Every small step you take now lays the foundation for greater independence and confidence in the future. With the right mindset and Maya by your side, managing your finances and reaching your goals becomes simpler and more attainable.
