If you’re the type of person who finds it hard to follow through on your new years’ resolutions, you probably like to use the new financial year to get things back on track. Or at least clarify some of those earlier resolutions, because of course, you were very drunk at the time, weren’t you?
That’s ok, we all need to take stock of our plans every once in a while. What’s important is that you actually stick to the next lot of promises you make yourself.
With that in mind, here’s 5 money resolutions you can make this new financial year.
Make saving easier
Saving is only a pain in the arse if you want it to be. There are so many ways you can make it easier on yourself.
The most obvious solution is to set up a direct debit into a high interest savings account. If you make it for the same day you get paid, you won’t even notice the money leaving. We know how hard those goodbyes can be, after all.
And make the savings account difficult to access to deter impulse spending. Waiting three to five business days for your money to transfer isn’t exactly ideal when you’re trying to by the next round at the pub, and for good reason!
Quit buying shit you don’t need
It’s probably not the big ticket items sending you broke, it’s the little things you buy everyday that tend to add up. Coffee, takeaway lunch, soft drinks etc.
We’re not saying you need to take a bland sandwich to work everyday. Where’s the fun in that? But if you’re buying your lunch everyday, then you need to seriously consider cutting back.
If you need some extra motivation, add up what you would spend in a week, month and year and then cry. After crying, work on first halving your weekly expenses, then cut them further when you can.
Its usurped reign has lasted long enough. Off with his head!
If you’ve got bad debt that’s costing you heaps in interest, it’s time you worked hard on eliminating It. Start on the debt with the highest interest rates and work down from there.
Take back your financial throne and start saving your money instead of giving it to the banks.
Here’s some other quick ways to cut out bad debt.
So you’ve beheaded your debt and built up a nice little stack of cash sitting in a savings account. Look at you go! Now it’s time you took your finances to the next level – invest it.
With a diversified portfolio of stocks that match your appetite for risk, you’ll be on your way to growing your finances to the next level. Now that’s a resolution worth sticking to!