Firstly, allow me to greet everyone a Happy New Year! My prayer is that 2017 will be a great year for you and me.

People always think of having New Year’s resolutions at this time – some will come up with new ones while many will revisit old ones. Personally, I think New Year’s resolutions are great because it allows us to focus and look forward. The challenge is the discipline it involves until those resolutions come to fruition.

Allow me to share my 5 tips for 2017. Since I am a personal finance advocate, you will see that most of my tips will be related to money so here goes:

1) Review you cash flow and create your budget. I know you have heard this time and time again and I have also said this time and time again. But, when it comes to helping you achieve your goals, your budget and cash flow is your most important and a very critical. Learn how to allocate your funds properly but be practical as well. Some people will come up with a budget plan that is ‘too good to be true’ which will only look good on paper but very difficult to execute. You know yourself the most, so create a budget that you can follow. As you create your budget, make sure that having savings is your ultimate goal.

2) Start or increase your equity investing. Due to the massive correction of the stock market in 2016, it is an opportune time to accumulate good quality stocks or equity laced mutual funds, unit investment trust funds (UITF) or variable universal life insurance (VUL). There are good bargains among some quality stocks which you may want to invest in, or you may opt to invest via pooled equity funds (mutual funds, UITF, VUL). If you are not sure if buying stocks or buying funds is for you, read here.

3) Start that business that has been brewing in your mind for a long time. The Philippine economy will continue to grow in 2017 and that will continue to bring entrepreneurial opportunities. You don’t need to quit your job to start a small business, what is important is that you start. Make sure that you do enough study before you actually start your business. If you are wondering if you should be an employee or an entrepreneur, read here.

4) Get a skills upgrade. It is always wise to focus on learning and 2017 is a great time for you to do so. Why? Competition is becoming more and more fierce! Our economic growth has ushered much opportunities but it also made the battlefield more intense. Mediocrity will kill all of us, now more than ever. Attend more seminars, read more books, listen to more podcasts, watch more educational videos and find a mentor or two. The more you focus on building your skills, the better your financial future will be (assuming you know how to handle your money). You may want to start the year right and learn from Francis Kong. Visit www.successoptionsinc.com for details.

5) Be generous. Regardless of your situation, being generous is a good idea. Why? “The generous will prosper; those who refresh others will themselves be refreshed.” Proverbs 11:25, NLT. “And I have been a constant example of how you can help those in need by working hard. You should remember the words of the Lord Jesus: ‘It is more blessed to give than to receive.’” Acts 20:35, NLT

Have an amazing 2017 and it’s time to be a new creation!