new year. new resolution.
Hello peeps!
A very happy new year to all of you. As the world entered third year of ravaging pandemic, we are get used to the new normal. As a human being, we are born with adapting and surviving skills. And with these skills, we are likely will survive on upcoming challenges ahead of us.
While we’re trying to adapt with the new normal. We need to adjust our priorities. Speaking which, now it’s a good time for that. New year is very well known for reset back our goals, revisit back last year performance. What have we done? What are the good things we implemented? What are the things that we need to improved? Take all these into consideration while re-setting back your new goals.
It’s all nervousness on setting up goals based on your past financial situation. Here I share what are the priorities/tips you need to look up during setting up the goal.
one. start budgeting.
The first step towards getting “back on track” begins with making a budget. Analyze your current spending habits to truly understand what adjustments you may need to make.
A few thoughts to consider:
Which expense category is taking up the most of your monthly income?
Are there unused subscriptions, memberships, or other hidden fees you can eliminate or reduce?
How much money are you usually left with at the end of the month?
What expenses can you possibly reduce by sharing with a friend or taking a more proactive approach?
Are they ways you can be earning cash back or saving money on your purchases through apps like GrabFood?
Once you understand which expenses might need some trimming, go ahead and build your budget plan for the next few months.
two. settle your debt. like seriously this year.
Credit card debt is one of the most expensive forms of debt because the interest rates you can incur are so high. Don’t let your debt derail you in the new year. Make a plan to allocate any extra savings in your monthly budget towards making additional payments on the credit card with the highest rate of interest.
three. use cash-back apps.
When it comes to money, we’re all about making it work as hard for us as possible. Therefore, we’ve taken some time to really use and explore several of the more popular cash back/rewards apps out there to make sure they’re all that and more. If you’re in the market to save some money and get cash back for purchases you’re already regularly making, then give cash back apps like Maybank MAE a try!
four. freeze your spending.
Put that credit card in “hibernation mode” and stick to your regularly scheduled programming. Take the next several weeks to hit the reset button financially and only spend money on your basic necessities. That extra streaming service subscription? Wait to purchase it until next month!
five. get cooking.
Y’all know I love to bake and cook. Gather your favorite recipes (or ask your friends to share theirs) and get cooking! The rainy season are a great time to settle in, get cozy, pour yourself a cup of hot Milo or coffee, and enjoy some comfort food at home. You’ll be amazed how much money you can save when you take the time to grocery shop, meal plan, and put those kitchen gadgets to work.
That’s all folks. I hope these tips wil help you in resetting back goals to achieved your financial goal this year.
Talk to you soon,
Happy New Year!
Emir xx
