1 month ago
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THE start of another year marks a new beginning for many, making it the ideal time to foster habits and set goals. Alongside prioritizing health and wellness, spending time with family and trying out new hobbies, one of the most common new year's resolutions by people across the globe is to be more financially responsible.
While it's always a challenge to stay consistent and follow through with these resolutions, there are many ways to ensure that you can manage your finances better and improve your financial health in 2025. Check out these financial resolutions and add them to your must-do list for the upcoming year.
First, track your expenses. Your journey towards reaching your financial goals starts with knowing where you spend your money. Being aware of your spending habits can help in balancing your income with your expenses, and sticking to your intended budget better.
BETTERING LIVES Hector testifies that Tala helped his family grow and expand their business, inspiring him to continue working hard. PHOTO FROM TALA
Second, de-influence yourself. These days, trends come and go in such a rapid scale that it can be hard to keep up with everything at once. The good news is you don't really have to. Focus on setting goals for what you truly want versus what others claim to be the latest must-haves.
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Third, start building an emergency fund. Unexpected and urgent situations like health emergencies, unemployment and natural disasters can take a toll on your finances and derail you from achieving your goals. One way to prevent this is by building an emergency fund that can cover at least three months of expenses, depending on your household's financial situation.
Fourth, pay your balances and repayments on time. Avoid the stress — and additional costs — of late fees and penalties by making it a habit to settle all your outstanding balances in a timely manner. Whether it's for credit cards or loans, being prompt with your payments shows financial responsibility that will positively impact your credit score and build trust with loan providers.
For Tala users, there is a useful feature that reminds you via push notification and/or email to add your repayment dates to your calendar, which encourages on time repayments.
Fifth, explore ways to earn extra. Make it a year of financial abundance and growth by trying out additional streams of income. It doesn't have to be something overly grand and complicated; you can start with something you already know like baking, handicrafts or digital and creative services, and offering them on social media.
This 2025, "buo ang tiwala sa Tala" as your reliable partner in fulfilling your financial new year's resolutions. As the world's first financial technology company for the Global Majority, it provides flexible, convenient online credit to customers that they can use to better manage daily expenses, save more and fund a side hustle.
Tala user Hector is a testament to the positive impact of Tala's financial services to its customers' lives. As someone who lost his job during the pandemic, he had to find other ways to support his family. He decided to start a fruit stand and applied for a loan from Tala to use as capital. From the initial P200 that he borrowed, he was able to expand his business and grow his loan limit as well through on-time repayments.
Know more about Tala's financial services by visiting tala.ph and downloading the official Tala app.
