Getting your money in order at the start of the new year is important for many of us, especially after the splurging during holiday season. So, if you want to get ideas on where you can start to be savvy, check out these top tips.
Set Goals
Saying that you want to save more money won’t make you do something about it. Creating a concrete plan is necessary here.
Think Ahead
Planning for the future doesn’t have to be a last resort exercise; take time to think about how to realistically work toward milestones you’re excited for. By writing down what you need to save for, you’re more likely to take them seriously.
Pack Your Lunch
Sometimes, the simplest changes take you the furthest. At the start of the year, try packing your own lunch at least three times a week to see how much you save. Save that extra money for important things.
Track Your Expenses
You won’t be able to count how much you can save until you understand how much money you spend. Start getting yourself into the habit of keeping track of all your expenses, especially small ones like coffee, midday snacks or drinks.
A savings app will go through your expenses for you. Many personal finance apps are extremely handy and goal-oriented. They will ask you to synch up your bank accounts, credit cards, retirements savings accounts to see what you are saving and spending. This will give you a clearer idea of where you are burning your money.