It’s 2019 and you’ve got another chance to get your personal finance right. You don’t want to go borrowing and save nothing again.
If you want this year to be the year of your financial goals, it’s important you prevent the financial mistakes you made in 2018 from happening.
So, to get it right this year, we suggest you take this five financial moves seriously. The year is still young and it’s never too late to start.
1. Save more money
It’s high time you unlearned the habits that make you spend unnecessarily. Think about the things you do and places you go that prompt you to open your wallet or look for the nearest ATM to withdraw money.
This year, saving money should be one of your goals. If you enjoy the habit of eating out and you're aware of how much a breakfast or lunch at an eatery costs your wallet, then you’ve got to start cooking your own food. Try this for two months and see how much you’ll save.
2. Spend less
When you begin to identify the habits that make you spend and avoid them, you’ll automatically spend less. To get this right, you’ll need to adopt a frugal lifestyle by always identifying your needs and wants before you spend. If you don’t really need it, don’t go for it.
3. Pay off debt
Another goal you have to chase this year is paying off your debt if you have any. Don’t pretend you’re not owing someone, or try to forget it. If you do, your creditor won’t. So, work towards paying off all your debt this year in order to keep your finance tidy and reach your financial goals.
4. Get a side hustle
Having a side business is key to reaching your financial goals. When you have more than one streams of income, you have some sense of financial peace that enables you to plan your goals.
5. Invest Money
When you finally get a side business that brings in more money, it’s important you begin to think about how to multiply the money you’re making by investing it.
Don’t be deceived about how much you need to have before you invest. Forget that lie. You don’t need to have a huge amount of money before you can invest. Just be sure you ask the right questions before you put your money into any business.