January 13, 2024 | 12:58pm

Create a Comprehensive Budget

Start your financial year right by creating a budget from scratch. Avoid relying on previous spending records and instead focus on present needs. Assess your expenses and identify items you can do without. Having a detailed household budget is crucial for financial health. If you already have one, revise it based on current necessity. If not, now is a good time to make one.

Think Before You Spend

While it’s important to enjoy the fruits of your labor, try practicing the habit of thinking before spending this year. Before making an unplanned purchase, assess if it’s a necessity or just a want. Create a plan to finance it and utilize all available financial tools to make wise spending decisions.

Review and Adjust Insurance Policies

Life can be unpredictable, so it’s essential to have the right insurance coverage. Review your current policies, especially life and home insurance, and evaluate if they align with your needs and financial capacity. Make adjustments accordingly. If you don’t have any insurance, consider getting one this year. Take advantage of free insurance offers, like the RCBC Hexagon Club, and enroll to enjoy coverage under Sun Life Grepa Financial Inc.

Open a Personalized Savings Account

Having a savings account is a necessity, but did you know that different accounts offer various functions and benefits? Choose one that suits your specific financial needs. For example, RCBC OneAccount is an all-in-one account that can be personalized according to your requirements. It comes with a standard debit card and the option to add features like life insurance and personal accident insurance, eliminating the need for multiple accounts.