Ghost Month, or the seventh lunar month, is a time of deep-rooted traditions and beliefs in the Philippines. It is believed that this is the time when the gates of the underworld are open, and spirits roam the Earth. While it is a period for honoring ancestors and exercising caution in life, it is also a time when many people pause major financial decisions.

However, a temporary slowdown in activities does not mean your financial progress has to stop. Sun Life believes that Ghost Month can be an opportunity to reset and strategize. Instead of seeing it as a time of bad luck or misfortune, consider it a period for thoughtful financial planning and preparedness.

Here are some tips on how to manage and navigate your finances during Ghost Month.

Avoid impulsive, big-ticket purchases.

The most well-known financial superstition of Ghost Month is to avoid buying big-ticket items, like a new car, a house, or even starting a major home renovation. From a practical standpoint, this is a great rule to follow. Use this month as a chance to pause and reflect on your purchasing habits. Ask yourself: Is this a “want” or a “need”? This period of non-spending can help you save money and re-evaluate your long-term financial goals.

Focus on financial housekeeping.

With fewer major transactions and business ventures, Ghost Month is the perfect time for financial housekeeping. You can use this period to review your budget and go through your spending habits over the last few months to see where you can cut back. You can also take this time to sort through your bank statements, insurance policies, and investment paperwork. It is very helpful to have a clear and organized financial portfolio.

Build your emergency fund.

An emergency fund is your safety net against life’s uncertainties. If you do not have one yet, now is the time to start. Set a goal to save at least three to six months’ worth of living expenses. This will offer a sense of security that no superstition can shake.

Study your investment options.

While you may be hesitant to make a big investment during Ghost Month, this is the perfect time to explore your options. You can use this period to learn more about the different ways you can grow your money, such as Unit Investment Trust Funds (UITFs) or mutual funds. This is a time for research and education, not necessarily for making a move.

Plan for future financial goals.

Think of Ghost Month as a quiet break before a busy and productive fourth quarter. Instead of making major moves, use this time to plan for them. You can meet with a financial advisor from Sun Life, who can help you create a long-term plan tailored to your personal goals.

Ghost Month is a reminder that while some things are beyond our control, we can always prepare for the future. Just as you take precautions during this period, you can also take proactive steps to secure your financial well-being.

What Sun Life Can Do For You

Sun Life can provide you with the tools, personalized advice, and economic security to face life’s challenges, year-round. This Ghost Month, focus on what you can control in your financial future, and let Sun Life help you build a brighter one.

To learn more about Sun Life, visit www.sunlife.com.ph. Stay updated by following Sun Life Philippines on Facebook, Instagram, and TikTok.