As we swing into the new year, here’s a roundup of articles to provide guidance as we spring clean our personal finances.

In life, there are various milestones. Whether it’s a new year, a new life change, or a new motivation, you are reading this because you want to have a thorough refresh on your finances.

Since personal finances covers a lot of stuff, here’s a roundup of individual topics that each carry it’s own valuable lesson you should review when you want to spring clean your finances.

#1. Starting with the Basics

Let’s start with the basics. If you are unable to focus on everything within this article, make sure you at least give this area your most attention. Clear your slate and let’s begin with understanding your income vs expenses.

1.1 Personal Cashflow & Budget Planning

1.2 Financial Goal Setting

1.3 Milestone References – Knowing Where You Are

#2. Lifestyle Costs

Just as the sun is sure to rise tomorrow, likewise life goes on. Be aware of these lifestyle expenses as well as our lifestyle tips that can improve your day-to-day money decisions.

2.1 Festive Holidays & Vacation Planning

2.2 Health is Wealth

2.3 Life Events

2.4 Changing the Way You Think About Money

#3. Career Advice Corner

Feeling unsatisfied with your job? Whether you fancy something new, want more money, or are just curious about options, we have the resources for you to be inspired by as you search for your next opportunity.

3.1 Considering a Job/Career Change

3.2 Entrepreneurship

3.3 Side Hustle

3.4 Upskilling

#4. Review Your Investments

By investing, your money grows for you. As you review your priorities and your money choices, it’s time to also review where you’re parking your money.

Because this topic has so much width and depth, learn more by referring to our Investment guides here.

#5. Review Your Growing Baskets

Depending on your financial goals, you’re going to want to specifically build up a few funds. If you already have them, then it’s time to review your progress and also whether these goals are still relevant.

The following focuses on the most common 3 funds most Malaysians have. Do you have them and are they on track?

5.1 Education Fund

5.2 Retirement Fund

5.3 Home Ownership

 

#6. Plan Ahead for Dealing with The Unexpected

Prepare yourself and your family for the unexpected. Whether it may be illness, accident, or your passing, there are plans you can have in place that you do need to regularly/annually review to ensure they are still relevant and are sufficient for your current needs should an emergency occur.

6.1 Emergency Fund

6.2 Insurance

6.3 Estate Planning

#7. Engaging a Licensed Financial Advisor/Planner

If the above has all been overwhelming, OR you feel it’s time to trust a professional to look over your finances to make sure you’re on the right track, do take the next step. Here in Malaysia, we’re blessed to be in a country where this is an option.

#8. Conclusion

Regardless of your age, ethnicity, marital status, financial situation, regularly spring cleaning your finances is necessary to ensure you are on track for a future that has less financial worries clouding it. Use the articles we’ve rounded up to gain insight on what truly matters to you, and make achievable plans for your immediate future. Do reach out for help if you need it.

If you’re reading this at the turn of the year, we wish you a Happy New Year!
May your future be bright and filled with bountiful blessings.

 

Are there other areas you want us to focus on? Do let us know in the comments below.