By this time, you’re probably thinking about how to welcome the new year and make it better. Including your finances in your new year’s resolution is a must if you want to be smarter with your money in 2024. Here are a few tips to keep in mind:

1. Review the past year’s expenses. As painstaking as this could be, this can help you see where the bulk of your spending goes and if it really deserves a bigger slice of your total budget or not. This can also help you avoid making the same mistakes again.
   
2. Prioritize expenses. In relation to the previous item, you should list down your expenses and number them according to importance. This will also help you create the habit of mentally assessing your priorities whenever you feel the urge to spend on a non-essential whim.
3. Include budget goals in your new year’s resolution. Aside from wanting to be fitter, happier, and healthier, set a major financial goal for 2024. Whether it be making a major investment or targeting to reach a certain amount of savings, this will help you shape your financial activity around that goal.
4. Use an app or any budget tracking tool. Seeing your spending as visualized by a money-tracking app can help you make better spending decisions on the go.
5. Map out your major purchases for the year. Do you foresee a big-ticket purchase? Appliances you may need to buy? Map it out so you can prepare ahead instead of falling short when the time comes.
6. See how you can grow your money. Whether it’s putting money in an investment plan, investing in a business, or extra means of income, study your options wisely. This might be a good year to try and pursue that.
7. Set aside funds for a good cause. If you can afford it, try and save a small amount of money for charitable causes and donation drives. This will also help you have money set aside when you stumble upon a cause that you want to help out.
8. Practice being content with less. Probably one of the simplest, but not always the easiest things to do is to make it a habit to be happier without having to spend all the time. Practicing gratitude and contentment will make you spend less and just live in the moment with whatever you have a little bit more.

Here's to looking forward to a better year, making more responsible choices, and doing what we can now to make every day better. Get started by talking to a Manulife Advisor today.