I’ve actually lost count of the times I boldly declared “This is the year I’ll be really good with money!” as part of my New Year’s resolutions throughout the years. You know what I’m talking about, right? Now that the holiday season is well and truly over, it’s time to face reality again. Last month’s overindulgence is this month’s money lesson!
When this time of year rolls around, I like to take stock and assess my finances. So I’m calling it now – 2018 is the year I’ll be really good with money! Here are the 5 money resolutions I’m committing to:
- Save – now this one seems to make an appearance on quite a number of people’s resolutions! Don’t let the four-letter word fool you, though. To save may seem like a simple concept, but I constantly amaze myself at how much I don’t So this year is all about fattening up that savings account and putting aside a regular amount to save every payday.
- Stick to a budget – over the years my budgeting skills have improved a lot, but like with anything in life, there’s always room for growth. So this year I’m going to be more ruthless with my budget all while making sure that I allocate some money into a fun fund for those ‘treat yourself’ moments.
- Pay credit card straight away – some days I just can’t help but dip into my credit card, and I’m guilty of waiting until payment is due to top it up. This year, though, I’m going to be replacing whatever amount I use on it as soon as I can. In fact, I actually did that just this morning! I went for a cheeky lunch out and used my credit card, and as soon as I got home, I made sure to put the same amount back on the card!
- Plan my meals – you’re probably wondering what on earth has this got to do with saving. It’s simple, really. I find that when I don’t plan my meals for the week, I usually end up spending a lot more because I go out and buy something to eat instead. Sushi is good and all, but an average of $15 per meal really racks up! But when I meal prep in advance, not only am I saving money by doing one grocery shop (with a budget, of course) per week, I’m also eating healthier (and more) so it’s a win-win.
- Make a wishlist for a purchase – this may seem counterproductive, but to me it’s not! Making a wishlist of something I really want to save up for like a holiday trip or an investment piece means that everytime I put aside money to my savings, I have a clear vision of what I’m saving up for. It’s easier to put money aside when I know that its for something I really want. Bye bye, impulse buying!
2018 is about striving for balance in my life while my bank account also have a decent balance. We got this!