🌈 A quick taster for you:  

• It’s time for some New Year’s resolutions! 
• Gen Z wants to earn more money and save. 
• What do you spend your money on?

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🧐 Why do I care?

We wish you all the happiness for 2022 and hope you had a relaxing holiday! Like every year, this one will start with everyone making new resolutions: drink less, drink more, go to bed earlier, or don't go to bed at all. So what resolutions will you be making for 2022? Maybe you’ll go for the classics: exercise more, eat healthier, be happier. But in the last couple of years some other resolutions around money and savings have become popular — and we want to help you make them happen.

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🔍 What exactly is happening here?

• Health is no longer the front-runner.
  Two new resolutions have risen up the list of New Year's resolutions: "Earn more money" and "Save more money". They’ve become more popular thanks to the pandemic and all the job uncertainty that came with it — especially for students. So, if you’re about to splash out on a new gym membership that won’t be used after a couple of weeks, it might be time to think again!
  

• Do you know what you spend money on?
  In order to start saving, you first need to understand what you're actually spending your money on! The new year is the perfect time to find out. The first step is to write down all your fixed costs, i.e. regular monthly outgoings such as rent, insurance, phone bills, tuition fees. Then consider all the other things you spend money on: nights out, food, shopping, travel. Take a moment to look at all these outgoings and see where you could save some money. You might want to compare your outgoings with that of your friends — talking about money shouldn’t be a taboo! And OWWN is here to help you optimize your finances and set yourself budgets for different types of spending. ‍

• Be in control of your money!
  Once you know what you're spending money on, you can start to organize your finances more efficiently. Basically, it's always a good idea to create an emergency buffer for a rainy day, and it should be about three times your monthly income. In addition to the buffer, you can save for things that feel important to you such as a holiday, or a new laptop. With any money left over you might want to start investing — even if it’s only a small amount of money each month. If you’re not experienced in investing in shares then funds can be a great choice. Take a peek at our newsletter about funds and ETFs.

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🤓 What does this mean for me?

New year, new happiness! Many people’s New Year's resolutions fall by the wayside because the goals are too big and unrealistic. Therefore it’s important to set yourself measurable and realistic goals. You probably won’t climb Mount Everest, but going running twice a week could feel pretty feasible. And the same goes for your money. You won't get rich in a year, but you can start getting your finances under control, know exactly how much you're spending each month, and save money for your future. Here at OWWN we want to motivate you to keep on track with your resolutions — The Briefing is always here with useful tips and the most up-to-date info on the world of finance and investment. 

We wish you a fantastic year! See you next week.

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