Essential Things You Need to Do in 2018 to Save Money
Aside from bettering your health and improving fitness, a new year coming in—most often than not—prompts you to examine and change how you handle your finances. However, in many ways, what helps you become more frugal and financially-adept with your resources is actually prioritizing your wellness and well-being. As you usher in another year, adopt this mindset along with other strategies to keep more than your cash position solid for the foreseeable future.
Be Forward Thinking
When it comes to saving and spending money, you have to understand that the key components that drive these habits depend on your discipline, or the lack thereof. This translates to even the most seemingly casual practices you should be paying more attention to—especially with regards to debt. When it comes to your credit card bills, it is imperative to be proactive. Certified financial adviser Nisreen Mamjani stresses that if you want to write off your debts for good, you have to see the bigger picture: “The mistake most people make is not reading the credit card SMS properly and simply pay the minimum amount due. They don’t realize that if they don’t make the full payment, they will be charged interest… a huge one at that.”
Invest in Your Health
You may think that it is a worn-out adage, however being in good health is the type of wealth you should always be prioritizing. If you’re going to make bold New Year’s resolutions, make sure you do everything to stay on track. With regards to your health and well-being, it’s always easy to assess your nutrition and make significant and necessary modifications. Not only will this improve your health it could also save you a lot of money. For example, Veggie Athletic reports that life insurance companies are now seeing how vegans make perfect candidates for less expensive packages. They shine a light on Health IQ which is a company that celebrates vegans, and other health conscious people like runners, for their commitment to health. By shifting to better nutritional or health choices, you can actually add years to your life while also securing a healthy financial
Ditch Unnecessary Spending
You cannot hide behind the notions of “impulsive buying” or “emotional spending” when you find yourself incurring debt left and right with your bank account nearly bottoming out. Financial consultant Jude Boudreaux notes that to help curb that cash flow for the better, try considering having yourself a regular and limited allowance you can work with. This way, you put more thought into what you spend your hard-earned money on. “You’ll always have a backup if you need use a credit card or go to an ATM, but putting space between your decision and action gives you crucial time to reflect,” explains Boudreaux. So, just because there’s a sale going on, doesn’t mean you have to jump right in.
We hope these tips will provide useful going into the new year and help you save money in 2018.