10 Important Money Resolutions for 2019

The New Year begins with a new year’s resolution, but as the days pass, the resolutions of these New Year also disappear. Many of us do resolve, but we hardly stick to these proposals. After some time we forget about our resolution.

Although money is not everything but it is the most important part of our lives. If you manage your money properly then your life will be better.

So if you want to manage it correctly, you will have to make some important money proposals for 2019.

10 Important Money Resolutions for 2019

Here are some 10 important wealth resolutions for 2015 that will help you achieve your financial goals. And yes, stick to it for at least 3 months and see great changes in your life.

  1. Make a loan payment

The first proposal for the new year is to clear your debt. Set a fixed amount that you will keep aside to repay the loan. Remember that the amount also sets a date so that you do not forget it. If you already have a strict budget then do not plan a higher loan amount. By this you can cancel the loan clearance resolution.

Home Loan-Money Resolutions
Home Loan-Money Resolutions
  1. Track all your expenses

Do you know that you can save a lot of money by tracking your day-to-day expenses. You need to track every expense that you are trying to track your monthly expenses for at least 2-3 months and you will know how you are wasting your money on very little but unnecessary purchases.

There are many mobile apps available that help you track all your expenses efficiently. By tracking your expenses, you can learn how to manage all your expenses and reduce waste.

  1. Welcome money from different parties

Many of us either stick to a job or a business and do not work hard to earn income from other sources. Even if you are working full time and earning a decent amount, you can earn more by trying different sources of income.

You can earn through your hobbies or you can work daily or weekly online for 1-2 hours or work as a consultant on weekends. There are several ways to earn extra income. But do not spend your entire time in making money. You spend some of your quality time with your family too.

  1. Not strictly

Many times people buy luxury goods such as mobiles, new trendy clothes for prestige, even if they do not need the luxury version of the item. Some people have their own daily breakfast or lunch. Start saying ‘no’ for all these things.

If you are going out with your friends every Sunday, do not tell them in the new year. Tell them that you are in debt or are setting a budget or saving for a new home, car etc. By saying ‘no’ you will save a lot on unnecessary things.

  1. Savings in Savings, Convert Bonuses

Whenever we get an annual bonus or festival bonus or increase, then we first plan how to spend and what to buy from the extra expense. But whenever you get extra money in this new year, convert the amount into savings. By doing so you can achieve your savings goal for 2015.

  1. Automatic Deposit

Every month, you can decide the amount and date along with the bank to transfer the amount to your savings account. Automatically will be credited every month and even this will be an easy job because paper work is not required. Apart from this, you will plan your monthly budget according to the pending amount.

  1. Become financial literate

Now one day investment information is readily available on the internet or in business newspapers or books. You can follow them and get stocks and bonds, how to save, how to invest, and where to invest. By becoming more financially literate you will invest in a safe and proper direction. There may be some workshops or classes organized on finance in your area, in which you can join and learn a lot.

  1. Less use of credit card

Find out how much you spent last month and find out what were the unnecessary things. Many times people buy through credit cards and spend more. Stop using a credit card and make a payment through cash.

When paying through cash, you will pay only what is not with it and not beyond that. In this way you will save money. If you are accustomed to a credit card, just go shopping and just leave your credit card at home.

  1. Digital Equipment

Many times we do not understand where our money is going and unable to track the money spent. There are many digital tools online that help keep track of your finances. They display your expenditure in accordance with charts, graph wise etc. This new year downloads digital tool apps to help you establish your financial goals.

  1. Emergency Fund

Set Emergency as an emergency fund every month, because you never know In addition to the emergency situation, the GSI fund, then, whenever money is available, separate the same amount.

Additional Tip – Set goals in 2019, note what your goals are and what will you do to achieve the goals? If your goal is to buy a new car in the new year, then separate a specific amount every month. By setting at least goals you will save money. Also at the end of the year you can check how much money you have fixed and you can know about your financial goals situation.

Even you should share or talk about your new year’s goals with your family so that they can remind you all the time. Let us start this new year 2019 in order to be realistic and achieve our goals.

Harvilas Meena

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