So this is the New Year… And it is time to take on fresh challenges in one’s life – are you ready?
One of the biggest challenges we’ll be facing as we head on to start our 2018 is our New Year’s resolutions. Whether it’s about losing weight, getting rid of toxic people and habits, or managing your finances thoroughly, certainly resolutions are notorious for being hard to keep.
So much that people begin to disregard resolutions entirely.
Still, as the old adage goes, there is no harm in trying – especially when it comes to your money. And if you want this 2018 to be any different from your last, here are four simple money resolutions that you can try to start your new year the right way.
Create a list of what you want to achieve with your money
The best way to motivate yourself in handling your finances right this new year is to get a firm vision of what you want to achieve with it.
Whether it is a new house, a brand new car, your children’s college fund, or simply paying off your debts, having clear, specific goals can inspire you to make better financial decisions in life.
Keep your list short and specific and always keep these goals in mind when you’re planning your budget for the coming months.
Be extra mindful of your spending
Tracking your spending is probably as sexy as paying your taxes, but it is a necessary step in taking a more responsible approach to your finances. So dust off your spreadsheets and find out where your money is going and how much of it is going where.
Once you’ve identified where and how much you’re spending, it will be easier to spot problem areas or areas where you might be over-spending. Now you can cut back and re-allocate your budget as necessary!
Practice paying your bills on time
Relax. If you’re having problems in this area, you are definitely not alone. Paying bills can be quite annoying and it is quite easy to shove them off under the rug and forget about them entirely – until the penalties and interests pile up, that is.
The best way to deal with this?
This new year, prioritize bills payment above everything else. Whether it’s your credit plan, your electricity, or your data plan, make sure that they are on the top of your budget list every month. Once you’ve taken care of the necessities, you are now (guilt)-free to indulge in your wants!
Take advantage of freebies, reward programs, sales, promos, and rebates
Trust us: not enough people in this world are taking advantage of the free stuff that merchants and brands are giving around. And what a sad fact that is because these freebies and rewards can go a long way in helping you save more money!
Sure, not a lot of them offers instant rewards or savings, but when it comes to savings, every little thing counts.
And there you have it – four simple money resolutions that can help you kickstart your New Year towards the right path. These resolutions are simple enough that you won’t feel overwhelmed with the pressure.
And if you feel you’re slipping? Don’t sweat it. Just remember to be consistent in what you do and always keep your eyes on the prize!
Cheers for a better 2018!
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