If you have decided to get better with your finances in 2019, thumbs up for you. Improving your finances may not be easy but it's very achievable. So, to help you get started, here are five things you need to do.
1. Use budget
This year, ensure you make budgeting a part of your finance. You don't need to have a fancy spreadsheet or graph to create a detailed budget. All you need to do is to have your monthly list of expenses written in a piece of paper. Stick to this budget and don't ever be tempted to spend beyond the monthly financial plan.
2. Avoid debt
If you want to work and make money for yourself in 2019, just try your best to stay debt-free. Debt is a potential source of financial anxiety and it can prevent you from attaining your financial goals.
So, instead of borrowing, just avoid those expenses that may require you to borrow money. If you stick to your budget and save enough, you'll buy those things you want without borrowing from anyone.
3. Set financial goals
Don't follow the path of a prodigal son in 2019. This year, make money and don't spend it aimlessly. Make sure you set some realistic financial goals you can achieve before the end of the year.
For instance, your financial goal for this year might be to save enough money to buy your first car, a plot of land or even a house. Nothing can stop you from achieving this if you save and spend wisely.
4. Spend less than you earn
You might think this is a no-brainer, but a lot of people still don't understand this basic financial principle. If you are going to have a good relationship with your money this year, just make sure your expenses do not exceed your income.
Also, try to avoid anything that'll make you make you spend your hard-earned money unnecessarily. For example, if you don't have money to buy Aso Ebi for an Owambe event, don't feel pressured to borrow money to feel among. Don't let anything run you into debt.
5. Get a side hustle
Not having a side hustle was probably one of the reasons you didn't meet your financial goals last year. This year, getting a side business to give you extra income must be one of your top priorities.