Everyone has some sort of New Years resolution to make themselves a better person in the upcoming year. Those resolutions don’t have to be limited to just working out and eating healthier, but they can also be committed to better managing your finances as well. Here are some helpful tips and tricks to make sure you stay on top of your finances in 2019:
1. Have “no spend” days: Going one day where you don’t spend any money isn’t going to kill you. In fact, it might even make you more conscious that you can have fun and eat without having to spend a penny.
2. Skip Committing To A Gym This New Year: There are plenty of ways to get in shape without have to pay monthly fees for a new gym membership that you will barely use after a month. Try looking up workout videos online, running with your dog, or taking a hike. Until you find that you are completely committed and will get your money’s worth.
3. Start Saving For Retirement: Even putting away $5 a week towards retirement can result in thousands of dollars saved within a couple decades. So just imagine what saving $20 a week can do! It is never too early to start saving for retirement.
4. Look At Your Spending Habits: Actually go through your expenses for the past couple of weeks and see where most of your money is going to. A good chunk might be going to food or online shopping, those expenses can be avoided for the most part. Cutting down on these unnecessary expenses can save your wallet in the New Year.
5. Don’t Try To Pay Off Debt All At Once: Set a monthly amount that you want to pay off your debt with. This amount should match your specific budget as well as how much money you have in debt. While paying off this expense can be intimidating, it is better to start now than to wait and let it build up any longer.
6. Track Your Credit Score: Monitoring your credit score is a healthy way to check on your finances without making huge changes to your lifestyle.