Prepping for a new year is often a blend of excitement and apprehension. There’s always something about starting a new year that inspires a desire to change and become a better person. But with it comes a whole lot of financial responsibility—tax deadlines, end-of-the-year debt payments, and sometimes the much-awaited pamasko.

Things get a little trickier if you’re an OFW or a seafarer. When you’re away for the holidays, wrapping up the year is a little harder to do without being able to oversee everything. But with focus and a little help, prepping for the new year becomes less of a hassle and a little more doable.

How do you prepare for the new year when you’re a seaman, then? Here are a few tips from us.

1. 1. Take note of any crucial financial dates.
      Do you often remit money back home on a certain date? Maybe to pay off a loan or tax requirements? Before the new year, it can help to list down those dates and review them. Make sure you list them in a secure yet easily accessible area so you can review them as many times as you need.
      
      While it isn’t a comfortable thing to do, listing down dates and deadlines can make things easier for you in the long run. Putting them all out on a sheet of paper, excel file, or any other method can help you better visualize how the year will go in terms of finances and how you could work around those dates if need be. 
   2. Know what you need to prioritize.
      After listing down those important dates, you might notice some needs are more urgent than others. Or maybe larger payments you might need to save for in the future. Prioritizing can help you have a clearer focus on where to put your money first and where you can go lenient.
      
      When you’re doing this, don’t forget to give yourself a margin of error. If you’re saving up for a loan payment (especially if you’ve taken a seafarer’s loan, which has a shorter term), focus more of your savings towards that payment while allocating some towards your other expenses. Or maybe lengthen your saving time so you can hit your target earlier.
      
      Either way, giving yourself more time to save by prioritizing certain expenses can ease your load going into the new year.
   3. Look at your current finances.
      While it may be intimidating to some, taking stock of your financial situation is a necessary step in making sure you don’t go broke during the new year. And if you’re already in the red, that’s okay—it can help you find out ways to move out of it in the long run. If you’re the breadwinner, you might want to note any future expenses your household might have and account for their other needs.
      
      As you do this, you might identify areas where money tends to sink. Maybe opportunities to supplement the money you currently have, like taking on a sideline or investment. You can also take this as an opportunity to consider what financial options you have, such as loans, other investments, or sidelines to earn extra like our #KaagapaySaBiyahe Referral Program. See details here.
      
   4. Seek help when needed.
      Going through your finances before the new year begins isn’t always an easy task. The number of things you need to take note of can be overwhelming, especially if you find yourself far from home during this time. It’s crucial to find someone you can go through the list with, be it your wife, husband, family member, friends, or financial advisor.

Ultimately, it helps to pinpoint what your goals are, particularly in terms of finances. But no matter where you are in life, rest assured that there’s always a way towards financial success—whether that’s taking an online sideline or a seaman’s loan. 

P.S. If you’re looking to apply for a seafarer’s loan while on board, we’ve got you! Here at Platinum Creditplus Lending Corp., we accept applications while you’re still at sea. Visit https://www.platinumcreditplus.com/loan-products/seaman-loan/  or message us at @OfficialPCLC  for details.