The new year is here and there’s no better time to start some new resolutions. From starting a diet to pursuing a new business venture, resolutions can take on practically any form, and that’s great! Alongside whatever goals you might already be considering, including new financial goals can help start the new year off right too. Here are a few ways to get or keep yourself financially organized and under control which could benefit you greatly:
01: Financial Knowledge
The more knowledge you have about your finances, the better. Thankfully there’s a lot of information online about financial how-tos and plenty of reading material that can help guide you in the right direction. Consider enrolling in a financial-learning class through your community college or adult school. Another option is to meet with a financial advisor who can help by reviewing your financial budget.
02: Lifestyle Costs
Understanding your lifestyle costs will help immensely when it comes to wanting to know how to save. One of the best ways to do this is to keep track of where your purchases are made. Keep receipts, check your bank statements and simply track your spending. Go over what bills are paid and when and add up your total spent. After you have a total written down, compare your amount spent with your income. One great way to save more is cutting back on some unnecessary expenses such as your daily coffee shop run purchase etc. Brewing your own at home can be a great and less pricey alternative.
03: Savings Account
Once you have the financial knowledge and understand where your lifestyle costs stand, you might want to consider setting up savings goals. Set a certain amount aside either each month or each payday to put into a savings account. Sometimes it helps to mentally think of this amount as simply another bill. That way you psych yourself into thinking it just has to be paid and the money tends to go untouched once it hits your savings. Even if it’s simply the amount you saved from not spending it on that daily coffee run that was mentioned before, totals add up and chances are you’ll be surprised at how fast your savings will grow.
There are plenty of other ways to financially plan and get organized, but these three mean you’ll be off to a good start to bring in 2022!