The new year has passed but it is not too late to start a new resolution. The common resolutions people tend to make would be eating healthier, to exercise more or to travel more. An important resolution we should all be making is to have financial resolutions that we need to commit to, for a lifetime full of happiness. Being honest with yourself about your spending habits is actually the key to identifying your financial priorities.


According to the Huffington Post, by the age of 30, you should be financially independent, settled well into a career and able to support yourself financially. Your financial asset is the financial asset and becomes your source of income.

Here are some of it that may be useful to you:

1. Start an emergency fund.

I’m not talking about a lot. Every month, try saving a portion of your salary and place it somewhere you won’t touch. Once you’ve reached $1000, it would feel so much easier to top up from your monthly salary. You will thank yourself in the future.

2. Keep a spending diary.

Keep tabs on every cent you spend, whether it is by cash or card. Impulse buys and unnecessary spending can help you identify what you need to cut back. Get a simple notebook and note down how much you have and how much you have spent. Checking and updating it every day will make you realize the necessary spending habits you need to change. 

3. Avoid using credit.

When spending money, make sure you spend what you have, and not using credit. You do not want to be drowning in debt later on. Think twice about swiping your credit card just like you would think twice about pressing that snooze button on your alarm clock just one more time.

4. Find a budget system that actually works for you and stick to it.

Establish boundaries for yourself because we are living in a world with so many choices involving money.

5. Money fears? We all have them.

Ignoring them isn’t the answer. Address them or they’ll never go away. Face your fear and tackle each issue that bothers you like a pro! Handle this because “he who does not care about money will soon have none”. No one wants that!

6. Self-care does not mean spending.

As a matter of fact, caring about your money is actually self-care. You do not need to spend so much money just to make yourself feel good. Do something that makes you feel great and makes you happy, and at the same time does not cost so much. Take a bubble bath, get creative and paint or take a walk at the nearest park.

7. Start on your retirement plan.

No matter what age you are, you should start saving up for when you are no longer working. As we grow older, our expenses will grow as well. You would not want to downgrade your lifestyle afterward in life, would you? Put a certain amount every month and your future self will thank you.

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