(Image source: stux, pixabay.com)
Tracking my spending
I started this last year, but it's been going on quite on and off most of the time and I haven't been recording all of my spending. This year, I'm going to be more disciplined about tracking my spending and reducing the amount of "ghost spending". (Here's an article on how much Singaporeans spend on unplanned spending: Cost of unplanned spending: $2.6k a year)
Increase my savings rate
After tracking my spending, I hope to cut down on unplanned spending and increase my savings rate. I'll use the increase in savings to help build up my emergency fund as well as increasing the amount that I invest each month to help generate more passive income. I think how much we make is less important than how much of it we actually manage to save
Be more organized
Setting a time to review my investments and finances is something I really should start this year.
Blog more actively
I used to have more free time but as we approached the end of the year, my free time seemed to keep on disappearing and now I blog only maybe once or twice a week. I'll do my best next year to blog more actively (maybe twice a week for a start), but then that is also subject to whether I can think of interesting topics to post about......
Summary
New year, new start. These are my investing and finance resolutions for 2016 which I hope to be able to stick to. The first 3 are good habits which I really should have started long ago though, sigh.
What are your new year resolutions for 2016?
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Hey Idea wish you have a good year ahead. You have been blogging pretty frequent actually. Good job! Keep going!
ReplyDeleteHi Giraffe Value,
DeleteHappy New Year and thank you :)