Be Financially Savvy in 2019, here`s how..
So if you not that into saving, because you don`t follow or stick to any saving plan, I thought perhaps my readers would enjoy a quick overlook of how easy it is to save over the 52 weeks in this year, whether it be huge or small saving.
Start small and save for something you want in the short term, like a month or two from now, perhaps a watch or camera etc. Once you`ve reached that goal begin and save for that ultimate goal, whether it be a boat trip, a holiday overseas, another degree, a home, or even a car 🙂. Remember to always keep you`re goals realistic. No use setting a goal and making it that unrealistic that you eventually have no choice but to fail at achieving it.
Think of this step, as being a financial manager. A financial manager cant make a good decision for you w.r.t you`re money if he/she doesn't have all the correct paperwork such as bank statements, credit card statements, investment statements, insurance policy documents and tax returns. Hence, if you plan to make a good and wise decision next time around with regard to the money you spend, you should know whats happening all around. So get you`re papers in order! NOW!!
Save for the future
Make saving fun. Start out by saving for something like an emergency fund, something you can make use of when you really in need of some extra cash, so you don`t need to go and borrow money where you end up paying interest.
Perhaps take up a saving challenge. The internet is full of saving templates that can easily be adjusted to suit you, or to who knows- `challenge` you. Below I list two examples of what a 52 week saving template looks like. Let me know what you think of it.
A more challenging 52 week savings template.
Create a Spending Plan/Budget
Now that you know how to save, don`t get things twisted by just spending all the money you saved so hard. Create a plan to check how much money you spend and on what. Daily spending habits can at times get in the way of future goals, but once you track you`re spending that will be a thing of the past. In this way you can take control of you`re financial future and reach all of you`re goals in time.
Set your Loans to Autopay
If loans are not paid on time, penalties often come with them. Besides getting a bad name where your credit is concerned, interest will also be added on, which in turn can make your burden of a loan even more. This is something we want to try and avoid. So at each month end rather allow your bank to deduct the loan amount directly by debit order making sure your loan is paid on time, avoiding any penalty interest. The loan also gets paid up faster this way.
Start a side hustle
To me, this is should be something you love doing. If you good at manicures, sewing or alterations, washing laundry, cleaning homes, whatever it may be. Do it, and charge people. This way you have that extra little bit of money which you could save, and at the end of the year it could mean something to you, when it comes to reaching a goal.
Stop all expensive habits
There is really nothing that kills a saving plan, as quick as expensive personal habits. Everyone has their something, it could be big or small, but every time you keep doing it, it all adds up and makes you more broke, and less able to save.
Let me know what you think of my Saving Plan for 2019.
*Picture credit: Google