We are already one week into 2019 and try to improve our financial lifestyles in the New Year.
As our money resolutions become clearer and we have 12 months ahead of us to achieve them, we should plan accordingly and follow our plans.
Here are some of the best finance tips that worked wonders in 2018 and will help you achieve your financial goals during 2019 as well.
Set clear money goals
Goals work for everything in our lives: getting a new better job, buying a home or just taking a great vacation.
Setting goals helps us see what we need to do in order to achieve our dreams and break it all in easy steps for our success.
So, what’s your financial goal for 2019?
In my case, I plan on replacing my laptop, since I need a stronger ‘tool’ for my web design business. We are also planning on getting a good rent and move into our new place.
These 2 goals are already big enough, so we’ll stick to them.
What do I need for a new laptop? I need to save about 800-1,000 bucks. A good apartment in our area would cost us about 1,500-2,000 a month, so the math is now easy for us.
Being frugal can be a bit difficult, if you are not used to saving money, but it’s worth it.
Cook at home and you’ll save hundreds of bucks every month. Get rid of some unused subscriptions, ditch your cable and use our gadgets as long as they still work properly.
By doing some simple changes in how you spend money, you can clear out hundreds of bucks every month (if not even more) and use this new found money to pay off your debt, save for a down payment or just get your kids to a better school.
Set up a fixed deposit account
You should always have more ways to save and invest, but a fixed deposit account will help you manage at least a part of your savings.
It’s easy to manage it, you can link it to your bank account and send small payments there. In few months you’ll already have a good emergency fund in place.
Keep an eye on your taxes
Make sure your taxes are in order so you can claim back money. Rather than spending your tax income, place it into your fixed deposit account after you have paid toward your current debt to minimize installments.
If you have any new windfalls, save the money or pay off debt aggressively. Who knows, maybe 2019 is the year you’ll finally become debt free.
Compare insurance rates
Just like with everyday items, shop around. See what different insurance companies have to offer and then make the best choice.
Don’t settle for a bad deal and always look to negotiate.
Make an effort to improve your credit score and you’ll get even better deals.
Look for new ways to earn money
There’s only this much you can save from a fixed income, so, if you have the time and willingness, why not start looking to earn an extra buck?
You can get a side-job, if you still have the time for this. A small part-time gig can bring in some much needed cash every month.
Although this is generally a risky endeavour as many would assume, online gaming, sports betting and live casino gaming can prove to be lucrative. Novibet UK casino offers beginners the ideal platform to learn how to game responsibly and stand to earn impressive cash prizes.
You can get into affiliate advertising, if you are tech savvy, or blogging, which can also turn into a lucrative side gig. Or bake and sell cakes and cookies, do small jobs around the house for money and so on.
In conclusion: make a plan for 2019 and stick to it. There are lots of ways to achieve your financial goals in the next 12 months.