Filipinos are always looking for opportunities to win big—and PLDT Home is giving another chance for its subscribers to take home up to one million pesos in cash. With the second wave of OMG (One Million Giveaway) promo, PLDT Home is raffling off another P1 Million for one lucky subscriber, P100,000 cash for 10 winners, and one-year free broadband subscription to 50 winners.
The second round of PLDT Home’s One Million Giveaway promo will run until October 31. Last September, a lucky PLDT Home subscriber from General Santos City received the first one million grand prize.
Now, imagine getting a windfall of money worth a million, the next question is — “What do I do with it?” One thing we know to be true is this: Money may not buy lasting happiness, but it provides the means to meet daily needs, enables us to improve our overall well-being, empowers us to extend a helping hand to others and achieve valuable experiences that can last a lifetime.
So here are some practical ideas you can do when you become the next OMG millionaire:
1. Invest in experiences.
Let your PLDT Home winnings spend for your once in a lifetime trip! Traveling with your family and loved ones is a great experience, but it costs a lot of money. If you have children and they’re at an age where they love theme parks, do it! Theme park tickets can cost upwards of $104 for a single day (Disneyland in Anaheim). For a family of four, three days and three nights at the park and a Disney hotel can cost more than $2,000 or P120,000—and that doesn’t include plane tickets yet or other parts of your trip.
If you’re a couple and want the quieter kind of travel memories, fly to Europe where you can visit several countries in one trip. For first timers, Central Europe can be had in one go—France, Germany, Belgium, the UK and Netherlands. Make it a two- to three-week trip (at least four to five days in each country) to enjoy the best of it.
If you’ve fulfilled your first batch of countries on your bucket list, consider South America with its diverse cultures and landscapes. Start in Brazil then head southwest to Argentina and explore Patagonia’s stunning landscapes and Iguazu Falls if you haven’t seen it on the Brazilian side. Then on to Chile and Bolivia and end your once in a lifetime trip in Peru, where you can explore Machu Picchu and the Amazon Rainforest.
2. Invest in mutual funds.
Ask any financial expert and they will tell you that mutual funds are the ideal way to start your investment portfolio because the stock market can be rocky at times. A mutual fund is an investment funded by shareholders that trade in diversified holdings. Meaning, you are part of a pool of investors and your assets are managed by a professional fund manager. Investments can be in stocks, bonds, and other securities.
It gets you much better returns than a traditional savings account but less than high-risk stock investments. How is this a good thing when you invest only a little compared with the millionaires? The economy of scale! You have experts managing the fund and the pool of investments grow faster than if you had invested it alone.
3. Grow your emergency fund.
Set aside 20 to 25 percent of your winnings and put it in your emergency fund. Before the pandemic, experts typically said that one’s emergency fund, a financial safety net designed to cover unexpected expenses, should be equivalent to three to six months of your salary. After the pandemic, they said six to 18 months should be the goal.
Emergency fund is reserve money that you don’t touch to spend on your monthly budget. It is set aside for emergencies such as medical expenses, car or home repairs, job loss, urgent needs such as travel to be with a loved one. If you lose your primary source of income, your emergency fund should be able to cover things like your rent or mortgage payments, groceries and utilities. Start by calculating how much these costs and multiply it by six to 18 months.
4. Pay off debt.
There’s good debt and bad debt. Mortgage is a debt but not a bad one, since by the end of it, you have a property to show for. Plus, the bank structures it for you. On the other hand, bad debt is incurred from things that do not generate value or long-term benefits. Example of this are the compounding interests of credit card balances. Pay as much debt as you can.
5. Give back.
Sharing your fortune with others can be a deeply fulfilling way to give thanks and pay it forward. Whether it’s helping a loved one, donating to a cause, or supporting a community project, set aside money to give joy to others. Remember, these winnings were given to you—you did not work for them. In fact, you can even say it’s a win on top of a win situation. While you are enjoying and making the most of your PLDT Home subscription, you also got rewarded to the tune of one million pesos!
PLDT Home’s OMG promo is open to current and new subscribers of Fiber Plan 1399 or higher. Subscribe to PLDT Home Fiber Plans for a chance to win the One Million Giveaway (OMG). For more information, visit PLDT Home’s website.
