Where did the year go?

At the start of the year, Marco and Liza had big plans. Both had good jobs. Their household income was comfortable. They wanted to increase their savings, pay down their credit cards, and finally build a bigger emergency fund.

Then life happened. There were family celebrations, tuition payments, a new phone, a weekend trip, home repairs, and many dinners that started with, “We worked hard. We deserve this.”

By September, they looked at their savings and were surprised. Nine months had passed, but financially, they had barely budged.

Have you ever felt the same way?

1. Check where you are today

September is a good time for a financial check. Ask yourself: how much did I have in savings in January? How much do I have today? Did my debt go down or up?

Don’t feel guilty if you are behind. The purpose of checking is not to punish yourself. It is to know where you are so you can decide where to go next.

2. Look for your money leaks

Marco discovered that his problem wasn’t one huge expense. There were many small ones.

P500 here. P1,500 there. Food deliveries, subscriptions, online shopping, coffee, weekend dining, and “small” purchases for the family.

When your income is comfortable, it is easy to stop noticing smaller expenses. Review your last 30 days of spending. You may be surprised where your money is going.

3. Set one goal before December

Don’t try to fix everything at once. Choose one realistic goal. Maybe you want to save an additional P30,000 before yearend. Perhaps you want to pay off one credit card or add one month of expenses to your emergency fund.

One clear goal is better than 10 goals you never finish.

4. Prepare for the ber months spending

Christmas is coming. And for many Filipino families, Christmas means gifts, parties, reunions, travel, food and “aguinaldo.”

Marco and Liza decided to start setting aside money every payday instead of waiting for their December income. When Christmas arrived, they could celebrate without putting everything on their credit cards.

Your year is not over

Maybe January did not go according to plan. That’s OK. You still have almost four months to make better decisions. You don’t need a new year, a new salary, or a big bonus to start improving your finances.

Start with the money you have today. Save a little more. Spend a little wiser. Pay down what you owe. Prepare for Christmas. Four months may seem short. But four months of better decisions can give you a very different January.

Final reflection

Don’t only ask: “How much did I earn this year?” Ask: “How much stronger did I become financially?”

Finish the year better than you started it. Your future self and your family will thank you.

(Chinkee Tan is a wealth coach, author, and motivational speaker helping Filipinos achieve financial peace. Follow him on YouTube and Facebook @ChinkeeTan for more money lessons, motivation, and daily inspiration.)