If you want to save and control your finances better in the year 2019, check out our suggestions to organize your budget and manage to close the year on the positive:
12 Decisions to Change Your Finances in 2019
1 – List your expenses
The first step to keep your accounts up to date and start having financial organization is to know exactly what your expenses are. This makes it easier to see how much will be left after paying basic bills, such as electricity and the market, and having a sense of how much money is left over at the end of the month, avoiding possible debt.
Creating this list is of the utmost importance and can help a lot in building your family budget, it’s no wonder that many of the planners and agendas nowadays have unique pages for this. You can write down on paper or download applications that organize this for you.
No matter where, be sure to list all your spending and always check your notes to keep track of your money.
2 – Start an investment
A great decision to make this year is to start an investment. So if you plan to save a value every month and find out what is the best investment for your profile.
3 – Exchange expenses for cheaper options
There are expenses that we can not simply cut out of the routine, like food and telephony. However, you can reduce these costs. If you eat lunch out every day, try varying the menu and getting cheaper restaurants. The same for the cell phone, look for plans more in mind and, if necessary, even consider switching carriers.
While it does not seem like a big difference, small savings over time help save a lot of money!
Replacing expenses throughout the week for cheaper options makes a lot of difference at the end of the month.
4 – Avoid paying your purchases
One of the easiest ways to get into debt is by making installments for any purchase. When the value of what you are buying is high, such as an electronic or home appliance, it is worth splitting to not commit to a very high debt.
However, avoid doing this with small purchases as it can become a habit and mess up your savings at the end of the month. So always buy the view.
5 – Avoid impulse buying
You have to control your purchases. Particularly in environments such as malls or markets. Always seek to buy only what is necessary and what really impacts your routine.
Also, avoid shopping for thrills or hungry to go to the market, this results in poorly spent money and products with no use in your day to day.
6 – Cut expenses
If you go on a lot of trips, outings or spend a lot on entertainment, you need to moderate the amount of times it takes each month. Swap tours for other outdoor moments or free activities.
They are practical, simple solutions that can help you save at the end of the month.
7 – Have a financial reserve
It is very important to have money saved for emergencies. And since we never know when we’ll need it, it’s best to start saving right away.
Seek to join this tip with the other investment topic, so your money is secure and yielding.
8 – Plan your future
What are your plans for the future? A car or that international trip? For you to achieve the goal you have in the medium term, you need to plan from now on.
Calculate how long you want to accomplish all of these dreams and how much you need to spend every month to reserve this plan until the date you want. This makes it much more palpable to know when and what to do to accomplish what you want.
Plan ahead to complete your projects and travels.
9 – Check rates and annuities
Do you know exactly how much you pay for your card service fees and annuities? As often the value already comes in the invoice or is discounted directly from the account, sometimes it is not possible to have that notion so clear.
So from time to time it’s important to check how much you spend on it. In most cases, we hire services that are not essential and we end up paying for something without need. This can be a good opportunity to hire a simpler and more economical plan.
10 – Eliminate credit cards
Having too many credit cards can pass on the false feeling that it is possible to spend. Who ever passed anything on the credit card and told himself “next month I’ll find a way to pay”? That’s where you make a mistake.
In addition to the values of purchases, having many cards entails the sum of many fees and annuities, which we often do not realize.
So keep only those that are really needed and cancel the rest.
11 – Seek to clear all your debts
If you are negative or have many outstanding open-ended debt, consider removing all of them in 2019. When you have more than one debt, you may lose track of rates and amount of installments, disrupting your entire budget.
We advise you to try to understand the current situation of each account: when is there still to pay and what are the current interest rates? Then, with that information, make a comparison with a personal loan.
Applying for a loan and using the amount to pay off all the debts may be the best way out, you clear your name and solve all the installments all at once.
12 – Seek to generate extra income
When it comes to making more money, one of the most common outlets nowadays is to seek extra sources of income. Maybe getting a second job is not viable for everyone, because of time and fatigue. However, you may find shorter activities to help you.
The first step is to think about your hobbies, if you like writing, caring for animals, sewing, you can search for platforms that can help you to provide this type of service and receive it.
Another good idea is to separate things that you no longer use and sell for affordable prices.
Now that you know how to make the best decisions for the year 2019, how about sharing this article with your friends on social networks? Also, leave your comment if you have any questions or tell us how you experienced the savings at the end of the month and revert this to a better year. To the next!