It’s now 2 months into the New Year. Do you already wish you had a do-over for your New Year’s Resolutions? If so, you’re in luck. You do.
February 19 marked the start of the Chinese Lunar Calendar. And, what better time than the Year of the Sheep to stop being sheepish about your finances? Here are 6 second-chance New Year’s resolutions you can undertake this (Lunar) year to save your way to good fortune in 2015.
1. Cleanse credit card debt
Before Chinese New Year, families traditionally give their homes a thorough cleaning to rid them of the bad luck of the previous year. Follow suit and cleanse your credit card debt. If you feel that you can’t see the light at the end of the tunnel with finally paying off all of those credit cards, consider consolidating all your debts into one.
2. Walk past the shoes in the window
It’s bad luck to buy shoes over Chinese New Year, but why stop there? When you make your trip to the shops, write out a list so you know exactly what you need and to avoid impulse buying. Your bank account will thank you!
3. Embrace change
In addition to rotating through different animals, the Chinese zodiac also rotates through the five elements (fire, earth, metal, water and wood). 2015 is the Year of the Wood Goat. One of the bad characteristics of the Wood Goat is that they are resistant to change. This year you could look at embracing change by comparing home loans and swapping providers if you find a better deal.
4. Look after your kids
As any child raised in a Chinese family can tell you, Lunar New Year is a good time to be a kid, with children receiving red envelopes filled with money as part of the celebrations. So, set your kids up for the long-term by helping them open their first kid’s savings accounts and start to teach them about the importance of saving!
5. Make your coffee at home
Did you know coffee is an unlucky colour in the Year of the Sheep? Okay, we are not suggesting that you give up your morning coffee completely, but by making your coffee at home and forgoing the $3 a latte, you would end up saving $1,095 by the end of the year. Put that cash towards your credit cards or your home loan!
6. Don’t splash out on gold jewellery
We kid you not, the other unlucky colour in the Year of the Sheep is… gold. So, instead of throwing expensive gold jewellery at those you love, opt for more innovative – and wallet-friendly – metals. They will love the silver earrings just as much, we promise.
Contact either Owun, Suzanne or Costa on 02 9517 1818 or firstname.lastname@example.org to discuss your goals for your finances and your options.
Or, if you feel like dropping in at our office, we are located at Suite 106, Flourmill Studios, 3 Gladstone Street, Newtown 2042. Be sure to share our blog on Facebook and Twitter and let others join the conversation!