Are you financially ready for the year ahead? We’re not just talking about setting New Year resolutions but putting together a realistic plan of action to help you make better choices to improve your life. Here is an excellent place to start: 

1. Understand your expenses 
When was the last time you looked at your bank statement and noting exactly how much you are spending, and what you are spending it on? Before moving on to set a budget, you must understand your expenses so that you can set aside a realistic amount of money to cover them. You can also complete our financial wellness questionnaire here to gain a better understanding of your finances in general. After this, you can also review your needs to a financial adviser

2. Set a savings goal 
Don’t just save money for the sake of saving money. What is the one thing you want to accomplish when you reach your savings goal or target? Use that as your motivation to remain focused and committed to your savings plan. 

3. Track your spending 
Not only will this help you identify potential areas where you may be overspending, but it will also help you see recurring expenses that you should include in your budget so that they can be planned for. 

4. Make reducing debt a priority 
It is not enough to merely set a goal without prioritising it. If you do not make this a priority, it might remain a wish for the rest of the year as other priorities demand your attention. Pay a little extra on your repayments to pay off the debt sooner. 

5. Take full advantage of discounts
Even though it may seem like the discounts are not much, the accumulated amount will make a difference at the end. What’s more is that Multiply members get great partner rewards on partners like Dis-Chem, Pick n Pay, Mango and many more. 

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You might also want to read this post on practical ways to curb overspending.