New year, new habits: my 5 financial resolutions for 2023

Life is getting more expensive nowadays. From transportation to onions, prices of goods and services are only getting higher. As I transition into my third decade next year, I am more conscious of each peso and looking more to save towards the future. Here are my five simple new year resolutions when it comes to money:

Have a "No buy"

Like most of us, I always shop online in Shopee or Lazada since there are a lot of discounts, sales, and deals. But there are times that I feel that my online shopping is too much. Sometimes, I end up with things I don't need anyway that only take up space. Next year, I plan to cut down on shopping online unless for things that are absolutely necessary, or for items that are only available in online stores (like skincare brands or health supplements). 

While online shopping is convenient, I am worried about all the plastic waste we consume with the packaging and shipping. It is one more reason why I plan to cut down unnecessary buying and spending.

I plan to have a "no buy" for some things like make-up and clothing, and use what I have to the full. I always get tempted by the shiny new thing online or the huge mark-down and forget that I still have something that I can use. 

Monitor expenses and debt

I have started this habit and plan to improve on it next year. I try to estimate my expenses for basic needs and savings, so I can fit it into my budget. In case I need to borrow money or take a loan for an important or unexpected need, I make sure to monitor the interest rates and pay on time. Simple loan calculators give me an overview of my remaining payments.

Eat right and prioritize health

As we get older, there will be inevitable health problems that come with it. I have been good with this resolution for the past four years, I have been trying my best to eat in moderation and exercise regularly. For next year, I want to continue on and learn more.

I am paying for a gym membership monthly, and I try to go five times a week. You don't need a gym to exercise or be healthy, or even lose weight since that's more on food. The payment is more of a positive reinforcement for me. Frankly, if I paid, then I will be forced to attend since I already spent the money for it. It means that health is a priority.

Most people want to lose weight for the new year. Based on my experience, monitoring what you eat and tracking calories is effective in preventing overeating. I am using the Loseit app and simple calorie tracking calculators to know the best daily calorie intake for my current goals.

Though this is not directly about money, our health impacts our mental and emotional well-being, not just physical. If we are in good health, we can focus better on our jobs... and in making money!

Add additional income streams

I have been doing this with my blog and online platforms for awhile now. It's not much, but this year I started earning with Google Adsense, affiliate marketing, sponsored posts, and brand deals. I am planning to improve my pages and blogs, and expand to paid products. Read: 5 ways I earn extra income online as a blogger in 2023

Learn new skills, always be open to new things

Recently, I got accepted to a 6-month course for bloggers on fighting fake news and disinformation. Next year, I plan to accept more learning opportunities as they come. This year, I have been more 'game' in accepting invites to events or things I would not consider before. For the new year, I aim to take more risks, gain more experiences, or see new places.