New year, new approach

WE all make them, there’s no denying it. But do we keep them? I’m talking about new year’s resolutions. Whether it’s to lose a few pounds, be a better citizen, give up chocolate or walk the dog more often, how do we ensure we keep the promise we make when the clockstrikes 12 and we see in the New Year?When it comes to New Year’s resolutions, saving money and spending less is on the top of most people’s wish list. A good way to start, and perhaps figure out where you’ve gone wrong in the past, is to keep a record ofwhere your money goes. Often referred to as ‘spending leaks’, this tracking process lets you see where your money leaks to and,much like a leaking tap, allows you to fix it.Undoubtedly, the Christmas and New Year period is one of the busiest and most expensive times of the year. So, although this tracking process might seem time consuming, starting now is a good idea. Small things like an extra drink at a social event can add up to a large amount before you know it. It’s also worthwhile considering your social activities thistime of year and whether you attend because of necessity or goodwill. We all know too well the dread of buying a new outfit, the expense of meals and drinks, a taxi home and before you know it, there’s no money left in your back pocket! Start by asking yourself some questions: ”Do I really want to go to another party?” Ask yourself, too, whether buying presents every year is really about giving or a sense of obligation.Consider whether you can simplify your list and swap your Christmas guilt for good tidings.When it comes to parties and celebrations, try to be organised. Realistically estimate how many events you can afford toattend and be firm about saying no to last-minute invitations. Often spending can be likened to drinking: you canoverindulge and feel terrible by the end of the night or you can alternate alcoholic drinks with glasses of water. You don’t have to deny yourself fun, just water down your spending a little. Hopefully these tips will help you stick to your New Year’s resolutions and achieve your ‘spend less and save more’ goals!
HangZhou Night Net

*Sara Morrison is the business development manager at South West Credit.

This article first appeared in Hangzhou Night Net.