10 financial resolution in 2015 oh 10 financial resolution in 2015

It is not too late to make any financial resolution.

It's only 8 days passed in 2015.

Make a little step count.

Here are the 10, let's see how I fair.

Resolution #1: Pay yourself first

I always save 30% of my salary, so this one consider DONE.

Resolution #2: Consciously spend less than you earn

I always spend less and adopt frugal living, that why I am able to save, DONE.

Resolution #3: Establish an asset fort blueprint

I think my insurance is enough, DONE.

Resolution #4: Use credit cards wisely

I don't have credit card debt, Currently I have two credit card, Alliance Bank Visa Infinite and Standard Chartered Platinum.( for spare, plan to cancel in 2015)

I have applied HSBC credit card in order to get a Huawei pad under promotion of RINGGIT PLUS but they REJECT my application without giving me any reason. I am very pissed off.

Resolution #5: Equip yourself with personal finance knowledge

I am writing blog as a platform to collect all my finance article, reflect on it, act on it. This can help me to gain my knowledge more effectively.

Resolution #6: Eliminate your debt

Credit card debt - Nope

Car loan debt - Nope

House Loan debt - YES - estimating another 10 years

Personal Loan debt - Nope

Share Margin Financing debt - YES

Loan Shark Debt - NOPE, (grin)

Children Debt - YES ( priceless)

Resolution #7: Build up emergency savings

I have about 6 months emergency savings in case I loss my job or I am sick.

Resolution #8: Start planning for retirement

I have plan my retirement by setting my number. I need about 2.8 million at 55 years old for me to live until 75 years old.

Resolution #9: Stick to your budget (for once)

I always stick to my budget. Do you have one? Below is my one:

Expenses ( per month)

Petrol RM 250 per month	250
Lunch RM 8*30	240
Grocery	300
Insurances	300
Phone Bill RM 20 per month	20
House Loan	1050
Car Loan	0
Car Maintenance per month	50
Parents	300
Dinner RM 8*30	240
Electricity & Water Bill	65
Streamyx	70
Baby Sitters for daughter	650
Daughter Milk Powder (Friso Gold Step 4 900gram, RM 55*2	110
Daughter Pampers RM30x2	60
Daughter Lotion, Oil etc	50
Baby Sitters for Son	650
Son Milk Powder RM 45*2 ( Morinaga 900 gram)	90
Son Pampers RM 30x2	60
Son Lotion, Oil etc	50

Total= RM 4605 ( Budget for a Man with 2 children, 4 years old and 2 years old)

Resolution #10: Develop financial relationships

I always have an intimate relationships with my "financial". ( grin)

WHAT is your status of the above 10 financial resolution?

I can grade myself that I scored 9 out of 10.

Start NOW.

Source: https://www.imoney.my/articles/10-financial-resolutions-to-make-in-2015