START 2025 right with little habits to help address money matters.Here are some tips from EastWest Ageas to improve financial well-being this year.Start with the end in mind. The first step in financial planning is to put goals into writing. Be realistic by following the Smart (specific, measurable, achievable, relevant, and timebound) framework in financial planning. This will also help identify short-term or long-term goals.Assess finances and jump from there. Next, assess your current financial situation by checking credit card records, bank statements, and receipts. This practice helps in understanding the current situation and preparing for the next steps.Set a realistic monthly budget. The 50-30-20 rule can be applied here, where 50 percent of income is spent on needs, 30 percent on wants, and 20 percent on savings.Track expenses and budget loudly. List expenses down on a sheet of paper, a computerized spreadsheet, or the budgeting app of choice. Another way to stay on track to reaching financial goals is by practicing loud budgeting. This helps build a support system and avoid extra spending when going out.Grow emergency funds and start long-term investments. Have a portion of your savings go to an emergency fund. An option is to invest in an insurance plan that covers bases during challenges such as a death in the family or a critical illness. This kind of investment is not just an end goal; it is a financial habit that ensures long-term security and peace of mind.EastWest Ageas financial advisors are ready to guide anyone in reaching their financial goals for 2025.Visit ewageas.com.ph and follow EastWest Ageas on Facebook and LinkedIn pages for more information.
