1. Review previous expenses. Knowing where majority of your spending goes can help you evaluate your spending habits. It may be a tedious task but it will also help you avoid making the mistake of allocating a big chunk of budget towards less important items.
2. Identify your priorities. After listing down your expenses, evaluate which ones really need a bigger slice of your total budget. This will also help you create the habit of assessing wants versus needs whenever you feel the urge to spend on a non-essential whim.
3.  Set your financial goals. Whether it’s reaching a certain amount of savings or making a major investment, this will help you structure your financial activity towards that goal.
4. Use a budget tracking tool. A visual version of your spending through money-tracking apps can help you make better spending decisions anytime and anywhere.
5. Plan your major purchases. Are you looking to buy a big-ticket item like your first car or a home appliance upgrade? Map it out so you can prepare ahead and be ready for when the time comes.
6. Discover ways to grow your money. Explore options that fit your financial goals and habits. It can be putting money in an investment plan, putting up a business, or having means for passive extra income.
7.  Set aside funds for a good cause. If you can afford it, save a small amount of money that you can share to charities, donation drives, or when you stumble upon a cause that you want to help out.
8. Practice being content with less. Probably one of the simplest, but not always the easiest things to do is to make it a habit to be happier without having to spend all the time. Practicing gratitude and contentment will make you spend less and just live in the moment with whatever you have a little bit more.

The road to better financial habits starts here! Talk to a Manulife Advisor today.