The New Year is now in full swing! This means that many individuals have already abandoned their resolutions. Do not be one of them! There are many ways to better yourself this year, and improving your finances is a great place to start. Here are three tips for making 2019 the best year for your bank account!

The first step is to set a financial goal for yourself. This could be something like saving up 7,000 dollars by the end of the year. Once you have your main goal in mind, then you can set monthly mile markers. In order to reach your goal by the end of the year, you would need to save around 580 dollars each month. Having that in mind makes it much easier to figure out how to create your monthly budget. Once you have your budget laid out, be diligent, and stick to it!

The next step is to develop a system of saving. There are many ways that you can cut down your costs, and ensure that you are saving money each month. This could include things like drinking water over soft drinks or coffee, carpooling to work, and cooking at home rather than eating out. All of which can save you money, but it is also important to make sure your savings are going to the right place! You can use an automatic savings feature to ensure that a portion of your money is being set aside in case of an emergency.

Lastly, you should avoid splurging with any raises or bonuses you receive. Many people see their year-end bonus or their pay raise as an excuse to take a vacation or upgrade their vehicle. Your best option is to invest a portion of this or put it into your emergency savings fund. This is not to say that you shouldn’t spend any of it, it is still important to reward yourself for hard work! Check out the graphic below for some additional advice for a financially healthy 2019!

By Erica Buteau

Change Agent. Daydream Believer. Maker. Creative. Likes love, peace and Jeeping. Dislikes winter, paper cuts and war. She/Her/Hers.

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