3 Financial Resolutions that will Change your Life Forever

As we start the year 2016, there may now be a number of resolutions on your list which are related to health, beauty, love, spirituality and more. However short or long your list is, I recommend that you add these 3 financial resolutions. If you haven’t created any list yet, you may still want to read on.

Just this December, we may have been so excited with our bonuses that as soon as we received our extra month’s pay, we spent hours in the mall splurging. From the time we’re out of the establishment, we’re already broke.

This may be the common scenario for most people.  Others may have a different story but with a similar result.  So, how can we avoid falling in the same financial deficiency cycle and get off on the right foot instead?

I invite you to read through and check how these three financial resolutions that can change your life forever. Enjoy!


Budgeting is a habit that creates financial mindfulness. It removes the stress of thinking where your hard-earned money is spent.

By creating a simple tracker of the cash that comes in and out, and where it is spent, you can manage your money better. If you are in debt, you can work your way out of it and also avoid getting in debt with proper budgeting.

However, although we would like to spend our money on living expenses, we are still bound to life’s uncertainties. This is why a good budget plan should include a portion for insurance.


Let’s face it. We can only plan so much. At the end of the day, we’re still unsure of what this year holds for us. If there are accidents, hospitalization or even death, are we prepared for the expenses?

An insurance policy can alleviate or entirely remove our worries for these unforeseen events. Without any insurance, we may resort to bite into high-interest loans which can bury us from terrible debts or borrow from relatives and friends which can taint good relationships if left unpaid. Unfortunately, aside from our self-esteem, it is usually our family and loved ones who suffer in these predicaments.

To avoid this, would it not be better to be hopeful for the best, but at the same time prepared for the worst to come? I leave this question for you to reflect on.


Once you understand your spending habits in your budget tracker, you can adjust your expenses in order to save for your most important life goals. It can be travelling to your dream destination, buying a car or house, preparing for retirement, etc.  So, it is sound to leave some amount for savings and investment.

Savings and investments are portions of the money that we set aside. Although these may not give us the immediate satisfaction that spending provides, they offer a more rewarding feeling when we reach our future goals.

Allocate regular amounts that will not affect your major needs. It is easier to start small but consistent, than to stretch our budget to save big amounts but fail to follow through. The key is to form a habit.

So there you go, our three financial resolutions on the 1st day of the year!

Start NOW, and your financial life will no longer be the same. Happy New Year!