How to save money in 2019
If you’re like most people, you’re probably hoping to save some serious money in 2019. Now that we’re halfway through January, it’s time to figure out how you’ll stick to those new year resolutions – especially when it comes to your finances.
Here are some top ways you can save money and reach your financial goals in 2019:
Create a budget
It may seem simple but in order to stop saving you need to know exactly how much you’re making, and where that money is going. This is an easy process, however, it’s not always fun if you’re struggling financially.
Now’s the time to take a good, hard look at your income and expenses. Where are you wasting money? Often, it will be on things that you wouldn’t even miss in the long run. If you’re consistently spending more than you make, can you get a side hustle in the short term to help you pad your savings? Take a look at bonus za rejestrację bez depozytu 2022 for more information.
Use the 50/30/20 rule
Once you understand where you’re starting from, it’s easy to begin to identify where you can cut back. The 50/30/20 rule can help you. 50% of your income after tax should ideally go towards bills like your utilities housing groceries and car. If you’re spending more than 50% towards these things you need to identify where you can make changes.
30% should go towards the things you want to do in life this includes things like cable, Netflix, easing at, and anything else that won’t drastically alter your quality of life. The final 20% should go towards saving and paying off debt. The minimum payments on your credit cards are part of the needs category. Paying off the balance will come from this 20%.
Unfortunately, unexpected expenses arise throughout the year. Your car breaks down, you need to pay for a plumber, or you suddenly have an unexpected medical bill. Luckily, there are some great options like 24cash which can help you get back on your feet in the short term.
Ideally, though, you’ll have enough in your savings that you won’t need to rely on using a credit card or loan. That’s why your first goal should be to save a few thousand dollars that you can easily access anytime you need it. This means you won’t be paying interest on your credit card or loan- saving you money in the long run.