It’s a pretty commonly accepted fact that nobody actually keeps to New Year’s resolutions. We all say we will, and then we don’t. It’s almost like a tradition. That being said, when the years flip over, there are some things you ought to be mindful of, especially where money is concerned. If you plan on utilizing any of these five tips, don’t call them resolutions, ’cause then you won’t do them.
- Analyze your spending and make some cuts. There’s probably at least one thing you’re regularly spending money on that you can live without. Maybe it’s something small like a special brand of chips from the market every week, or maybe it’s something a little more luxurious like spa visits. If it ain’t something you absolutely need, you don’t need to spend money on it. Of course, it is important to indulge the things you enjoy to maintain your personal mental health. Just cut ’em back to once in a while instead of regularly.
- Start an emergency fund. You never know when your toilet’s gonna explode. Put a good chunk of money aside on a regular basis for those times life rears its ugly head. It’ll be a relief to have a separate fund to draw from instead of having to take it out of your normal funds and re-balance everything.
- Be realistic and live within your means. We all want to have nice things, that’s what drives the economy. But having nice things isn’t very nice when you can’t afford lunch. If you’ve got money that you know you can spare, then by all means, indulge once in a while. But otherwise, if you need to have a big internal debate over whether you want a shiny thing versus eating cup noodles for a month, the right answer should be obvious.
- Shop around for cheaper prescriptions. The medication industry has gone a bit wonky in the last few years. Prices are constantly fluctuating as new medications come and go. The upshot, though, is that many manufacturers of meds create their own versions of more expensive stuff. Shop around a bit and talk to your primary care physician, and you might be able to uncover some cheaper medication.
- Work that side hustle. If you’re really in a money crunch, you’re gonna have to bite the bullet and look for extra profit opportunities. Sell some old stuff in your house you don’t want or need anymore, snoop around for loose change and roll them for the bank, and if you have the time, consider some part-time work like ride sharing.
