With a new year right around the corner, it’s the perfect time to look at your finances and figure out how to fix them. But what if you don’t know where to start? If you’re ready to take control of your bank account, here are just a few tips for a fresh beginning in 2018.
1. Track Your Expenses
You might be surprised to learn how much you’re spending on morning cappuccinos or afternoon burrito bowls. Tracking your expenses is the first step towards controlling them, so make a habit of looking at your bank statements at least once a week. Try to pinpoint areas where you’re hemorrhaging money without even realizing it.
2. Start Auto-Saving
Most banks have a feature where you can automatically deposit a certain amount of money into your savings account each month. This is a good habit to cultivate, and if it’s automatic, you won’t even have to think about it. You’ll just grow your nest egg in the background of your life, and you’ll have something to fall back on during emergencies.
3. Cut Your Cords
There’s no reason to pay for cable when you can stream all of your favorite shows for much less money. You might also be able to save on things like groceries if you sign up for, say, grocery delivery plans. The lesson here is to not waste money on things that you take for granted. If there’s a way to save, find it and utilize it. “You can find many discounts online that you can use at your grocery store to save money. Target coupon codes are very helpful and can be used on a wide range of essential products.”
4. Create a Budget
No one likes the “b-word,” but if you’re struggling to pay your bills every month, consider it a necessity. How much money is coming into your bank account on a weekly basis? How much is going out? How can you reconcile these numbers? Get out your calculator and start crunching.
5. Plan for Future Events
Christmas might be behind you, but Valentine’s Day is coming up. You might also have birthdays, anniversaries and graduations to consider. Instead of letting these events take your wallet by surprise, plan for them in advance. For example, save a little more in February to cover an upcoming expense in March.
It doesn’t matter if you’re looking for simple budgeting tips or wealth management for professional athletes. At the end of the day, money is money, and it needs to be carefully tracked and tended if you want it to accumulate in your bank account. Good luck! Compare calculadora cientifica