Now that the New Year is just days away, you may be thinking about your goals for 2019. If you’re like most people, it’s likely that you have at least one financial goal- whether you’d like to pay off some debt, save for a house downpayment, or finally sort out an emergency fund.
Now is the perfect time to begin looking at where your money is going and set up some new habits for the New Year. Here are some top ways you can save money in 2019:
Review your accounts
Take a look at your current accounts, and do some calculations to see where your money is going. You can also do this more easily with apps and websites like Mint and Quickbooks, as they’ll automatically categorize your transactions so you can see where you’re overspending.
Once you can see where you’re losing money, it’s much easier to make some smart cuts. This allows you to really get on top of your finances so you’re not filled with dread every time you sign into your bank account.
Make smart choices
Credit card debt is some of the worst debt around, and if you’ve let your cards languish, it can really impact your credit rating. Once your credit rating is damaged, it can be much more difficult to do simple things like sort out your utilities or get approval to rent an apartment.
Whether you need a loan from 24Cash or you’ve recently applied for a new credit card, everyone needs credit sometimes. The key is to pay it off quickly, so you can put your money to work elsewhere.
Create accountability
Many people set New Year’s resolutions and often, they’ve given up on them by mid-January. One of the best ways to make sure you’ll improve your financial health in 2019 is simply by telling people about your goals. Talk to your partner or spouse if you have one, and let them know why you’re hoping to save money. Getting them on board will make it much easier to stick to your plan. Next, tell your friends and family members. That way, they’ll understand if you’d rather go for a walk than out for dinner and drinks, and they’ll be able to help support you with your goals.
Write it down
Studies have shown that we’re much more likely to meet our goals if we write them down. That’s why it’s key to make a list of why you want to save money, and the things you’re going to do to make it happen. Keep this list handy so you can look at it each day and keep yourself motivated.