Well, here we are again, another year has passed and a new year begins. So how did your 2016 go? I hope it was a great year for everyone. I am excited for the new year simply because it is an opportunity for many of us to push that reset button and start over and do things right. It’s our ‘clean’ slate.
Whatever happened in 2016, keep them in your memory and use them to fuel you this coming year. In case you’re not sure where to start, here are some things you might want to consider as part of your New Year’s resolution:
Stop whining about not having money and start focusing on how to make more.
I hear it all the time, “Wala akong pera eh!” or “Ang tagal pa ng sweldo ubos na pera ko!” People complain about not having money but when you ask them what their plan is, they don’t have any. Their verbal conditioning of not having money or having that mentality that whatever they have is not enough will affect how you spend your money. Change your focus and always have that mentality that you have money and you want more to uplift your lifestyle, this way, you’ll try and figure out how to make more than complain and do nothing.
Stop borrowing money and pretending it’s yours; instead, start planning how to pay your debts.
If borrowing money is your habit, then stop it! It is not the right way to go. What’s worse is if you are doing it to pretend you are in a certain social status. If you continue this bad habit, at one point, whether this year or next year or somewhere down the road, it will come back and haunt you. Plan to pay off your debts and stop borrowing more. It’s time to start on a clean slate.
Stop believing that money is evil and start giving value to money.
The reason why some tend to spend all that they have is that they believe money is evil. Well, money is only evil if you use them in evil ways. Money is not the end-all and be-all, but it is valuable and it is pretty high up the valuable echelon. So start treating money as a valuable asset because we all know that for many, it is not easy to earn.
Stop spending beyond your means and start saving and budgeting.
I get it, there is just so much to love in this world, but the key to achieving a financially free life is simple – live within your means. If you do just that, money will be enough. In fact, if you do it well, money is more than enough. Save, save, save! You’ll be surprised how saving can lift your confidence about yourself. The feeling of having real money is greater than the feeling of pretending to have money. Try it and feel for yourself.
Stop investing without understanding and start learning to invest with a purpose.
The culprit of the negative perception about investing is our lack of understanding. Investing is good; it makes your money work for you. But don’t just invest because we, financial advisers, or your friends, tell you it’s good. Understand what you are getting into and understand the reason you are doing it. By learning and understanding, you already lower your risk. Invest with a goal in mind and tag your investment to that goal so you have that “deeper ‘why’” when you invest.
It’s the New Year folks! Remember 2017 will only be as good or great depending on what you make of it. And if for some reason things don’t go as planned, eventually all will be well.
Cheers to the year that was and here’s to an awesome 2017! Happy New Year!
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Jeremy Jessley Tan, RFP is a Registered Financial Planner of RFP Philippines. Learn more about personal financial planning at the 59th RFP Program this January 2017. To inquire, e-mail firstname.lastname@example.org or text <name><e-mail><RFP> at 0917-9689774.