4 Smart Financial Moves You Can Make To Start The Year Right
Leaving 2019, it’s always a wise move to look forward and plan ahead for the years to come. Though it’s not easy where to start, here are some tips that will guide you on how to manage your finance wisely in the year to come.
1: Start Tracking Your Spending
Better management and discipline towards your expenses is the smartest move. If your focus is to improve your habits in spending, you might need to start tracking the amount that you spend on a daily and monthly basis.
You can either write it down in your personal notebook or logbook or much easier on your smartphone. This is possible nowadays through the free apps that are accessible to everyone. By doing so, you can get a clear picture of where your money goes each month. Moreover, it helps you track your budget so as to avoid spending beyond limits. If you do this, you can also compare your spending pattern on a monthly basis; thus, allowing you to check if you are getting better towards your spending habits.
2: Automating Your Savings
This is a great chance for your financial stability. if your goal is to save large funds as possible, automating your savings is the best way for you.
This is because you don’t have to remind yourself to set aside some savings on your payday. It will instantaneously set aside funds on your separate account.
In fact, most people who succeed in accumulating savings by automating it. As months pass by, you’ll be surprised that your money is growing. You just need to set it up once and you’re good to go.
3: Pick 1 Money Goal
Setting too many goals may not be feasible for most people. As for me, I’d rather set one realistic goal and make sure that I make it happen. Setting your money goals has to be something that can be beneficial and feasible. Here are some of the examples of money goals that you might try:
Saving at least 10% of my paycheck every time I got paid
Saving my incentives and bonuses
Open a separate account where I can save my emergency savings
Setting a goal is indeed significant so that you will know where to start and how to. However, you also have to make sure that your goal is attainable and realistic. You have to make sure that it’s something that you need to do and feel of doing so that you won’t end up failing and demotivated. To make sure that your goal is something that you can execute, you might consider following the S.MA.R.T system.
4: Start Saving for Next Christmas
In automating your money, you can start saving for next Christmas. For instance, if it cost you $1500 dollars last Christmas in terms of gifts and travel, you can come up with how much can you afford to save every week or month to accumulate the same amount at the end of the year. This way you can avoid getting a loan if in case you don’t have sufficient funds during that time. Somehow it is also a way to end the year without debt and just purely a mound of joy.
These ideas are simple and attainable to follow. It just needs dedication, discipline, and willingness. When you don’t make a move on how to get better in terms of your financial status, nothing will happen to you. It takes your soul to achieve the financial stability that you desire. A pound of hard work and an ounce of discipline can help you on your journey.
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