Adulting, during my days it is just being mindful of the obligations in life and just simply being adult. If you lived in our time for sure you'll hear different voices from left to right. You may consider it a nag but I'm sure, for all my co-era, now you understand why.

For these generation they now call it adulting, acting accordingly and age appropriately. Here's something that I would like to share to my readers about signing your first loan and take note they are five things that should know.

For a generation largely thought of as entitled and unprepared for the real world, Millennials, currently aged 22-36, are doing better financially than people give them credit for.

As young professionals, entrepreneurs, creatives, artists, freelancers, among many, many others, living in constant contemplation of their future, most Millennials are, in fact, so passionate about and consumed by their #lifegoals, that most, if not, all their income go to paying for their first car, getting their own place, and generally, living the best years of their lives.

An equal mix of angst and excitement fueled by an almost frantic desire for independence, Millennials are ready and raring to leave the nest and live their lives on their own terms. And they actually have the financial capacity to afford it. Or do they?

Short-term loans and mortgages allow young professionals—from first jobbers to senior managers—to invest in that two-bedroom condo or that first car. But remember, it’s not as simple as it seems. If you are looking to take out your first bank, car, or home loan, better read on. Here are five things to keep in mind before you sign on the dotted line!

Work on your credit history first
If you’re planning to get a loan, take care of your credit history now. A good credit history will mean better loan offers. You won’t even have to look. Banks and financial institutions will be scrambling to give you one. How to do it? Pay your monthly bills on time and in full!

Choose your lender wisely
To avoid losing money or your collateral, go for reputable lenders like banks and other financial institutions that have good backgrounds and credentials. Their rates may be a bit high but at least you know they’re legit.

Compare rates
Don’t just choose the first bank that offers you a loan. Shop around and compare bank rates. If you do have a bank in mind, knowing the rates of other banks will give you leverage on the negotiation table.

Consider the time frame
It's so easy to just go for a 10-year-loan or even a 15-year-loan because the monthly dues will be significantly lower. But consider, too, how you will pay for it and the interests that your loan will incur. Longer payment terms mean you will pay more. Calculate that. Try to picture where you will be in 10 or 15 years. Will you still be working and earning an income? It is best to consider these things before deciding on a payment term.

Financially protect your investment and family
Who will pay for the loan if you are suddenly not able to? In the Philippines, Millennials in the workplace do not only work for themselves but also for their families. One way to ensure that your loans won’t become a burden to your family in the future is to take out short term insurance plans for the same length of time and amount as your loan. That way, you can be confident that your unpaid loans will be taken care of, no matter what happens to you.

Try to check out pan-Asian Insurer FWD Life Philippines’ Set for Tomorrow Short Term Cover. For as low as P2,000 a month, it provides a guaranteed 100% life insurance protection against uncertainties and unforeseen life risks in 5 or 10 years—the same time period as a car or house loan. Should anything happen to you, your family will have the money to pay for the debts you left behind. It’s renewable, too, should you decide to take out another loan. And when you’re ready to invest for the long term, you can convert it to a plan that can potentially grow your money through investment funds. Now that’s the height of adulting!

Want to know more? Visit http://bit.ly/SetForTomorrowforLoans or get a quote using FWD’s Cali, http://bit.ly/AdultingSetforTomorrow