3 Fast Track Tips To Get Your Finances Straight This Year
Get out of debt. Stop procrastinating with money. Learn to invest. Make money when you’re broke. Save for retirement when you’re young. These are just a few of the money resolutions people have year after year.I know it’s totally predictable to post about financial New Year Resolutions but since we are at the beginning of a new fiscal year, now’s the time to start fresh.
It’s far too easy to let your finances simmer on the back burner either hoping that you’ll get to wealth eventually…somehow, some way or another. Months of procrastination turn into years- so grab the reins today without overthinking it.
Take control of your life and your money before you talk yourself out of action and into another wasted year!
This next year of your life will pass whether or not you take advantage of this time.
1. Make Room For Wealth:
You will need to set aside time in the beginning of the year, and in your weekly habits to really get out of debt and build wealth. You need to make sure you’re dedicating your money, home and your “headspace” to preparing yourself for wealth without cluttered distractions and silly expenditures. This means getting organized in your home office, getting your paperwork together and cutting out wasteful spending.
Now, don’t get me wrong- “wasteful” spending isn’t always bad, but when you clutter up your life with stuff and distractions, it’s easy to spend most of your time to maintain what you have accumulated instead of making room for what matters with your money…mainly, having more of the stuff that generates wealth and less of whatever simply takes up space in your life.
2. Don’t Be Perfect- Simply Be Aware:
If you’re not always particularly disciplined with your discretionary spending, that’s okay to a point, you’re still making a choice. When you aren’t making choices about your spending you’d be surprised at how quickly small drips in your spending add up- conversely, small changes and reductions in overspending can add up.
Pour over your monthly bills to make sure you’re not overpaying or could qualify for discounts. Check to see what employee, student, senior, military or loyalty discounts you can qualify for. Take advantage of being a long time customer, or really- a customer of any kind and simply ask to see where you can qualify for utility, cellular and car insurance discounts. Put aside any little bit you save to automatically drip into a savings account instead of leaking out of your available savings each month.
3. Do Something You’ve Never Done:
If you want something you’ve never had- you’ve got to do something you’ve never done. Seems simple- right? If you’ve been stuck in a rut or are wondering what your next move should be- take a big leap. Try your hand at stock investing, start a new side hustle from home or explore options for making extra income from existing assets. Stop procrastinating on paying off your debt and set up automatic payments for savings accounts. If you feel clueless- that’s okay, everyone starts somewhere especially when it comes to changing spending habits and we all struggle to learn how to invest in the stock market. Know you’ll struggle but pat yourself on the back.
It can be totally scary to try something new- I know this year it’s a goal to finally try my hand at stock investing but there’s plenty out there to make it easy. A year ago, I started this blog and had no idea where to begin- but I began to learn all I could from podcasts like CopyBlogger and Smart Passive Income and watching the Suze Orman Show on iTunes- You can see some of my favorite podcasts here and here,. my favorite financial sites, and check out my resources page for ideas!
