Staying financially healthy doesn’t have to be complicated. Often, it starts with simple habits—regularly checking your balances, tracking spending, and understanding how your money moves day to day. With the rise of digital banking, many of these financial health checks can now be done quickly and conveniently from your phone.
That convenience, however, makes it even more important to choose a platform you can trust. If you’re evaluating your online banking options, it’s worth prioritizing a digital bank that has acquired license from the BSP (Bangko Sentral ng Pilipinas), as this ensures the institution meets regulatory standards for safety and reliability.
Maya Bank is one of the BSP-licensed digital banks operating in the Philippines, offering tools that allow users to monitor transactions, review account activity, and manage their finances in real time through a single app. With a secure digital banking foundation in place, you can focus on assessing and improving your financial well-being.
Below are quick financial health checks you can do anytime, straight from your phone.
- Look at Your Cash Flow at a Glance
A simple “income-minus-expenses” review can quickly reveal whether your monthly budget is healthy. Start by checking if your current salary reliably covers essentials and whether your lifestyle upgrades have crept in unnoticed. If you’re a Maya user, a quick look at your app can help you make better sense of where your money goes.
- Confirm Whether Your Savings Are Getting Competitive Returns
One key part of financial health is making sure your savings are working for you. Regularly checking your interest earnings helps you see if your money is growing at a competitive rate.
If you’re using Maya, you can monitor the interest rates your accounts earn directly within the app. Maya Savings provides a base interest rate of 3.5% p.a., which can be boosted up to 15% p.a. when you complete eligible activities such as prepaid load purchases, bills payments, QR Ph payments, Maya Card usage, or online checkouts.
- Revisit Your Emergency Fund
If you’re after stability, your safety net must come ahead of all your other goals. As soon as you start earning a solid income, you’ll want to save at least six months’ worth of living expenses so you can easily overcome any major life transition.
With the help of a high-yield savings account like Maya Savings, your emergency fund can actually grow to fight inflation, even while remaining ready to address life’s surprises. And because Maya is one of the few online banks with an actual BSP digital bank license, your deposits enjoy strong regulatory protection alongside Maya’s signature market-leading interest rates.
- Check Whether Your Goals Are Clearly Defined
When you’re close to completing your emergency fund, it’s time to list your near-term and mid-term targets. It doesn’t matter if they’re related to school tuition payments, a dream vacation, home renovations, new appliances, or gadget upgrades. The important thing, for now, is to know if these goals have timelines and amounts attached to them.
If they do, then Maya Personal Goals makes things a lot easier. This savings tool, also accessible within the Maya app, lets you create up to five goals at a time, each with its own tracker and deadline. Each goal account earns up to 8% p.a. on balances of up to PHP 100,000, with tiered interest rates that start at 4% p.a. for the first PHP 20,000 and gradually increase up to 8% p.a. for amounts above PHP 80,000.This makes goal planning much more motivating and rewarding.
- Identify Idle Cash That Could Be Earning More
Many households leave extra money sitting in low-interest checking accounts, slowly losing value to inflation. Checking all your account balances should reveal whether you have any idle funds that could be put to better use.
For money you don’t plan to use immediately, Maya Time Deposit Plus is a clear choice. It provides the fixed, predictable earnings of traditional time deposits as well as the ability to top up at any time, making it the perfect place to park your idle funds.
Maya Time Deposit Plus is also much more flexible compared to legacy time deposit offerings. It earns a guaranteed 3.5% interest p.a, which can increase to 5% p.a., 6% p.a., or 5.5% p.a. depending on whether you choose a 3, 6, or 12-month term. This makes it a safe, high-performance alternative to other savings and investment options. For your big-ticket long-term goals, Maya Time Deposit Plus also allows you to hold up to five active accounts, each with up to PHP 1 million in deposit capacity, providing a predictable way to build your long-term funds.
- Make Sure You’ve Got All You Need for Your Medium- to Long-Term Plans
Long-term stability requires consistent planning and commitment across timelines. If you find yourself managing your finances day-to-day, perhaps it’s time for a change.
Maya’s ecosystem supports planning across multiple timelines: Maya Savings for everyday deposits with potential boosted interest; Maya Personal Goals for milestone-based planning; and Maya Time Deposit Plus for longer-term, fixed returns. Maya Bank gives you all you need to build security and momentum across different horizons, even during the busiest times of your life.
- Verify the Security of Your Banking Provider
Lastly, you also want to check if your bank operates under official regulatory oversight and if your deposits are insured. This takes less than a minute. Simply search your provider’s licensing and regulatory status, preferably before you make any large deposit.
Maya operates with a digital bank license BSP regulations require, giving you assurance that your money is in safe hands. Deposits are also insured by the Philippine Deposit Insurance Corporation up to PHP 1 million per depositor, giving you a fallback in any macroeconomic scenario.
Stay On Track, Every Step of the Way
Regularly performing these quick financial health checks helps you stay in control of your finances, make smarter, more informed decisions, and ensure your savings are working as hard as possible for you. Doing these also allows you to optimize how you allocate your money and build stronger financial habits over time.
Maya Bank gives you the tools that make checking, saving, and growing your money easier. Explore the full potential of Maya Savings, Maya Personal Goals, Maya Time Deposit Plus, and the rest of Maya’s secure, high-performing banking solutions to stay on track, wherever you are in your wealth-building journey.
