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Christmas is fast approaching and a lot of festivities will be going on. While some people are focusing on their weight, especially after two holidays of eating good food, others are focusing on their finances and setting financial goals for the New Year 2017.

There is no better time to start planning your finances than the start of a New Year. This way you are able to take stock, look at what you did wrong the previous year and make adjustments.

Today, Rosabon Financial Services is sharing some personal finance tips to keep your account from turning red in the New Year.

  1. Set a savings goal

This is perhaps the most important way to start your “Better Finances Plan.” On New Year’s Day, after all the eating and drinking, sit yourself down and comprehensively set a savings goal for 2017. Remember the acronym SMART?  Your goal should be specific, measurable, achievable, realistic and timely.

When deciding on a savings goal, think of a specific purchase or benchmark you could realistically reach within 12 months. This goal should require self-discipline and a little sacrifice when it comes to spending, but you should not overreach.

Once you have done this, find a friend or family member who can hold you accountable, or write the goal down in a place where you will see it every day, this makes it easier.  

  1. Thoughtfully choose a savings account

Once you have established your savings goal, the next activity is to carefully choose your savings partner.

Savings accounts vary widely once it comes to interest, fees and other charges, so it is important that you do your research and find the one that is perfect for you. Since you are saving towards a specific goal, every extra interest you earn on your savings is worth it! So, find an organization that guarantees you this.


  1. Use your credit card sparingly

This tip is very important as it’s easy to spend now with plastic and much harder to pay later. It is your responsibility to use your credit card wisely.

Remember that you’ll be relying on your future earnings to pay for today’s credit card purchases and if you keep a running balance, you will also be paying interest. Don’t fall into this trap of saving to settle debts, rather, save money to meet financial goals.

  1. Establish an emergency fund

While your savings account might also serve as a rainy-day fund, it is in your best interest to have another fund placement plan dedicated solely to emergencies.  Your savings account might be for big purchases like a house or car and tampering with it during emergencies might delay your goal accomplishment. If you have emergency funds set aside, you will have something to fall back on without having to sacrifice that big purchase you have been saving for.


  1. Monitor your monthly expenses

Tracking your monthly expenses goes a long way to help your finances. By doing this, you know exactly where your paycheck is going and which areas you are overspending on.

You will feel more in control of your money, and it’s a key step toward forming a realistic budget that you can actually abide by.

For example if you discover that you are spending more on coffee every week, you can limit stopping at the coffee shop to three times a week, and put the rest of that money into savings.

  1. Shop Smarter

Everything right to shopping has gotten smarter and savvier. Why not take advantage of this? Get more rewards  by signing up for loyalty programs at your go-to stores, buy in bulk when you can and plan your shopping trips around sales and daily deals.

In addition, when shopping online, use the internet to your advantage and check out price-comparison websites to make sure you are getting the best deal. The little amount you save here goes a long way towards achieving your savings goals.

At Rosabon Financial Services we have various Funds Placement Plans that guarantee you safety and competitive interests on your funds. With us there is flexibility of savings and NO HIDDEN CHARGES!

For more information, visit, send a mail to [email protected] or call 08150880038, 08150880039


    1. Thank you Buy, Hold Long.. We all need help at one point or the other. Stay glued to this page for more tips and ideas. Have an amazing 2017.

    1. Thank you so much for this wonderful feedback Dollar Advisory. We hope you keep coming back for more financially rewarding tips. Have a lovely 2017!

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