What are some tips to stick to your New Year financial resolutions and goals?

Ask yourself why did you overspend?

No need to immediately cut down but slowly reduce, as long as you hit your target.

1. Keep/save the portion you planned as per resolution when you receive your pay every month. This way, you’ll never be missing your goal!

2. If you can have a separate banking account for spending only, that‘s even better. Keep it to the bare minimum w/o incurring any fall-below fee. This helps to inculcate the feeling of “I am poor”, which prevents you from spending money like pouring water.

3. If you can achieve Point 2, it means you have a separate Savings account. Do not apply for an ATM card for it or if you already have the ATM card, hide it away. Think of the money in there as “can see cannot touch”.

4. Cut down the number of credit cards you have. In the extreme case, use debit card only and link it to the separate Expenditure account only.

5. If temptation is your problem - stop window shopping, stop looking at newsletters from blog shops, delete your Lazada/Shopee/Qoo10 app from your phone. If you can’t see it, you can’t buy it.

6. Jot down your expenditure after every spend. You’ll have a good idea of how much you have spent and you’ll be shocked by it to want to spend more -- similar concept was applied by Kondo Marie and see how many people did she manage to change in this world!