6 Habits to Drive Up Your Fortune This 2025

As we step into the Year of the Wood Snake, a time symbolizing adaptability, diversity, and lateral growth, many are seeking ways to channel these traits into personal improvement. With New Year’s Eve just behind us, the air is filled with aspirations and a touch of superstition.

From wearing lucky colors to gobbling up 12 grapes under a table at the stroke of midnight (yes, that’s a thing – just ask my friends flooding social media with it), everyone seems to have their own ritual to invite fortune into their lives. But here’s the catch: luck can only work its magic when paired with action.

So why not take a proactive approach this 2025 by adopting these six auspicious habits?

#1: SET A TIMELINE

Resolutions don’t have to start on January 1. If the timing doesn’t feel right, delay them until you’re ready. For instance, I have put my Thesis Writing on hold while I celebrate Christmastime with my family.

Stressful now? Begin in February, or whenever suits you best. The key is to align your goals with your energy and mindset, not an arbitrary date.

#2: QUIT COMPARING YOURSELF

Your journey is uniquely yours. While it’s tempting to measure your progress against others’ resolutions, resist the urge. Set goals that reflect your personal aspirations. Ignore what’s trending on social media or in social conversations.

#3: LEAN ON OTHERS FOR SUPPORT

Teamwork makes the dream work. Whether it’s joining a fitness group or a professional development community, surrounding yourself with like-minded individuals can boost your motivation and keep you accountable.

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And don’t forget clear boundaries are essential. If certain friends or environments trigger unhelpful habits, communicate your needs. True friends will uplift you rather than drag you down.

#4: PRIORITIZE FITNESS

Health is wealth, and there’s no better time to make 2025 your year of transformation. Use fitness tracking apps or smartwatches to monitor your progress, set achievable goals, and push past your limits. Every small step counts toward a healthier, happier you.

#5: BE KINDER TO YOURSELF

Slip-ups happen. Instead of berating yourself when things don’t go as planned, analyze the situation. What led to the setback? How can you handle it better next time? Celebrate even the smallest victories because progress is a journey. Personally, I like to reward myself with items from my wish list (e.g., lip gloss or perfume) whenever I achieve a certain goal. What items are on your wish list?

#6: PRACTICE GRATITUDE

Negativity can fuel bad habits, but gratitude can extinguish them. Replace self-doubt with affirmations like “I can” and “I will.” Write down three things you’re grateful for each day or place uplifting notes around your home. These reminders of your power and resilience will keep you grounded.

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The Year of the Wood Snake offers a perfect backdrop for growth and renewal. Embrace these habits, and watch your 2025 flourish!

Sources: 1 & 2

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Top 6 Financial Resolutions for 2025

Whether you’re gearing up for a big year ahead or just want to breathe easier about money, these six resolutions will set you on the right path this 2025!

#1: SAVE MORE, WORRY LESS

Start small and aim big. Set a goal to save at least three months’ worth of your take-home pay this year, and eventually work toward a full year’s cushion.

With Singapore’s rising cost of living, having an emergency fund is your safety net against unexpected expenses. It’s not just about the amount you save but the habit of saving consistently.

#2: BE CONSITENT WITH MONEY

Consistency is your best friend in financial planning. Even small, regular contributions to your savings can snowball over time. Can’t save a lot? No worries as every dollar counts!

For those with long-term goals, consider setting aside funds for regular investments. The earlier you start, the more time your money has to grow, thanks to compound interest.

#3: SET CLEAR FINANCIAL GOALS

What’s your money motivation? Maybe it’s sending your kids to a prestigious school, taking your dream retirement trip, or passing on your family business. Define your short- and long-term goals, and compare them to where you are financially today.

Pro tip: Create a bucket list of personal milestones. Make these goals tangible (e.g., aiming to travel to London by March), and let them fuel your financial drive.

#4: PLAN SMARTER FOR TAXES

Don’t let taxes catch you off guard! Review your year-end statements and identify potential tax liabilities, such as interest or dividends. Proper tax planning can save you from unnecessary stress and money.

Explore tax reliefs like those for CPF contributions, NSmen, or parent and spouse care. Every bit helps when it comes to keeping more of your hard-earned dollars.

#5: CONTRIBUTE MORE TO YOUR RETIREMENT FUNDS

Say it with me: “2025 is the year to prioritize my future self!” Start contributing regularly to your retirement funds, like CPF. The earlier you begin, the more time your money has to grow.

If you’re employed, ensure you’re maximizing your CPF contributions and exploring top-ups to your Special or Retirement Accounts. It’s a simple yet effective way to build a comfortable nest egg.

#6: SHOP SMART, LIVE WELL

Shopping wisely is all about cutting costs without compromising your lifestyle. Take advantage of discounts, deals, and cashback platforms. Buy in bulk for essentials and hold off on splurging until sales events like the Great Singapore Sale or 11.11.

And don’t forget healthy money habits: Pay your bills as soon as payday hits, track your spending, and focus on financial literacy. These small changes can lead to big savings.

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With these resolutions, you’ll not only build financial resilience but also set yourself up for a more secure and stress-free future. So, what’s your first step toward a brighter financial year?

Sources: 1,2, & 3

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Great Alternatives To New Year’s Resolutions

Research has shown that less than 10% of New Year’s resolutions were accomplished by the participants. If these people were hyped by the power of the new year, why are they likely to fail by February? The primary reason why resolutions fail is its tendency to be intangible. Moreover, it comes down to how an individual manages his or her habits.

Instead of setting the bar high for yourself, consider the great alternatives found on this list.

#1: CHOOSE A WORD TO GUIDE YOUR YEAR

Select a word at the beginning of each year and use it as inspiration to dictate your actions. It is hard to believe the unprecedented year 2020 has come to a close. While things have certainly changed, the passion in your heart remains. Visualize and manifest the world you want to live in by using these words as a guide: present, gratitude, generosity, and prosperity.

#2: MAKE A BUCKET LIST FOR THE YEAR

Instead of setting unrealistic goals, you may write a bucket list highlighting the experiences or achievements that you want to reach this 2021. Create a list that contains both lighthearted and serious items. Your list may include going camping inside the house, making a monthly budget, or serving a delicious dinner at your parents’ house.

#3: CREATE A YEARLY CHALLENGE

A yearly challenge is a concrete and realistic goal that you want to achieve within the year. Selecting one goal allows you to put all your efforts into tackling it. Here are some examples of the challenges that you may accomplish this 2021:

a. learning a new language
b. writing a book
c. getting out of debt

#4: SET A NEW GOAL EACH MONTH

Goals are more manageable when you divide it into small chunks. Perhaps January will be the month that you will dedicate to self-help books. While, February will be the month to pack your healthy lunches. You may create a 12-month calendar that outlines each of your monthly goals. Increase your motivation by rewarding yourself at the end of each month.

#5: TRACK YOUR HEALTHY HABITS

Write down three healthy habits that you accomplished per month. Having a visual cue that displays your accomplishments will motivate you to keep up the good work. Stay flexible and leave a room for healthy habits to emerge each day.

#6: DEVELOP A MANTRA

A mantra is a statement that you repeat frequently with concentration. Develop a mantra that will help you feel more empowered and positive. Rather than deciding that 2021 will be the year you will save more money, you can have a mantra stating you will only “buy what you need”. When you are shopping, remind yourself of this mantra. Repeating this in your head will help your behavior to change in time.

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The statement “new year, new me” has turned into a funny cliché nowadays. 2020 was a disappointing year. Instead of looking at 2021 as an instant re-do of your life. Look at it as a timeline for change. Change will not come overnight. You will morph into the person you want to be as the days go by.

Sources: 1 & 2

 

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6 Financial Resolutions For Every Singaporean

As I receive my annual bank statements and credit card summaries, I realize how my financial year went by. January is a fantastic time to review your financial strengths and weaknesses. Where did you fall short? Not only is it a good way to reflect on your spending habits, but it is also a good way to craft your financial goals.

Use your year-end resources to establish your financial resolutions for the year 2020!

1: IDENTIFY YOUR FINANCIAL GOALS

Several articles from Money Digest highlighted how helpful it is to determine your financial goals. Start your journey by identifying both your short-term and your long-term financial goals. Are you hoping to earn a degree or to expand your retirement fund? Do you see yourself purchasing a new flat with your spouse? Or, do you want a to lead a different career?

To illustrate your path in a detailed manner, you may create a Financial Vision Board. Take some time to think about how to achieve your financial goals this year. Consider your outlook before your plan of attack.

2: SAVE MORE MONEY

How many times have you heard about “saving more money” as a resolution? This is a common financial resolution for many Singaporeans. However, most people do not know how to start. It is recommended to be specific to increase the chances of success. Increase the percentage of your monthly income that goes into your savings.

Save at least 15% or your monthly income and increase the percentage whenever you feel more comfortable. If you are already saving 20% of your income then, you are in good place. A person who is earning S$4,000 per month can reap the benefits of having S$9,600 by the end of the year. Raising the percentage to 30% will equate to having S$14,400 by December 2020. Saving more money gets you closer to achieving your financial goals.

3: PAY OFF YOUR DEBTS IN FULL

Two years ago, MAS estimated that there are 9 million credit cards in circulation in Singapore, with Singaporeans charging an average of S$555 per card. Imagine how much these numbers have grown since? Credit card debt is rising in the country as convenience is hard to resist.

Many credit card holders enjoy the attractive benefits or the good rewards programs of several issuers. While there is nothing wrong with paying using cashless methods, you need to be responsible with paying the hefty interest rates and balances. Commit to paying the full amount of your monthly debts this 2020!

4: GROW YOUR INVESTMENTS

Aside from increasing your savings, you can make your money work for you by investing each month. There are many ways to invest your money such as putting it in high-interest savings account. This can increase your earnings by 2% per annum.

Another approach is to sign-up for investment-linked insurance policy where a portion of your premiums will be invested in specific investment funds. Review your insurance policies and ask your financial adviser about this option.

5: GO ON A CASH-ONLY DIET

You have endured the back-to-back expenses brought by the Holiday season. Chances are, your credit card got exhausted due to the year-end sales and other Christmastime delights you spent for your beloved ones.

Cushion these expenses by going on a “cash-only” diet for a few weeks or a couple of months. Begin by allocating a monthly budget based on the money you have. Give yourself a specific cash amount per week and work your way around it. Doing this will challenge your self-control and your resourcefulness.

6: AUTOMATE YOUR SAVINGS

Transform your new year enthusiasm into something productive by automating your savings. Commit to this new habit by researching on the available services of the local bank institutions. For instance, I recently came across with the UOB Stash Account.

UOB Stash Account allows you to accumulate your savings for up up to 1% p.a. interest, simply by maintaining or increasing your previous month’s Monthly Average Balance. An initial deposit of S$1,000 is needed to open the account, which is open for all. You can apply for your Stash Account and get an approval within minutes by simply going to the website. Terms and conditions apply.

Sources: 1 & 2

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6 Financial Pledges For The New Year 2018

What are your financial resolutions for the next year? Here are some ideas to get you started.

#1: BE DEBT-FREE

When it comes to minimizing your debts, it pays to be strategic! You can either conquer a volume of smaller debts or a decent amount of high-interest debts. The important thing is to restructure your debts in order for payments to go towards your principal rather than the interest.

#2: CANCEL UNNECESSARY ACCOUNTS

Look into your current financial situation. Keep an eye on the redundant and unnecessary elements. Do you really need to pay for everything with your several accounts (i.e., both credit and savings accounts)? In most cases, the answer is “NO”! Financial institutions charges fees for the simplest of things. Consider closing down or canceling your unnecessary accounts.

#3: IMPROVE YOUR DEFENSE

No one knows when the next financial crisis will hit! To help ease the burden of unexpected costs, your first line of defense is the emergency fund. Modify your budget in such a way that you would have an excess amount of cash for emergencies.

#4: BOOST YOUR GOLDEN NEST

Now is the perfect time to invest for your needs beyond retirement. As a Singaporean Citizen or a Permanent Resident, you are privileged to have a straightforward retirement plan. Just ensure that your company’s terms are in lined with the CPF’s. Grow your “golden nest” to its full potential by maximizing your personal contributions.

#5: GIVE MONEY AWAY

Fulfilling someone’s monetary plea is one of the most positive ways to start the year 2018! If you are capable of shelling out a portion of your savings without hurting your budget then, you may donate to a good cause. You will realize the true value of your money as you see it transform someone else’s life.

#6: BE A BOOKWORM

Knowledge is definitely powerful! Particularly, printed media allows you to directly interact with some of the century’s brilliant minds. You may want to explore the different non-fiction topics including the wonders of Investments as a renewed bookworm. Look into the interesting titles such as “The Intelligent Investor” or “Common Stocks and Uncommon Profits”.

Image Credits: pixabay.com

Image Credits: pixabay.com

These books and similar ones will allow you to learn the basics directly from the people who were most successful in the field.

Sources: 1 &2

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