September is upon us, and it’s just a few scant months until Christmas comes once again. That holiday in itself is magical, but it can be a pretty terrifying time for those who have a lot of friends and relatives to whom they want to give gifts. It’s all too easy to go into Christmas and 2019 guns blazing, not worrying about where your money is going to go or how you’re going to manage it in the year ahead.
Smart savers always know how to budget properly, though, and 2019 should be no exception. If you’ve ever been cavalier with your cash, you’ll know that it can really come back to bite you, especially if something unexpected happens. We’ve gathered some top financial tips to keep in mind for 2019 so that you’re prepared for all eventualities.
Understand your finances with budgeting
We know, we know…nobody really keeps their New Year’s resolutions. That’s usually because people’s goals are far too lofty or unrealistic, or because they didn’t really want to do the thing they resolved to do. Resolving to make a realistic, easy-to-follow budget plan might just be the best decision you ever made, though, and you’ll thank yourself when tough times come around and you know what you’re doing. Whether you do this analog or digital, it’s a great idea to draw up a list of all your expenditures and incoming funds and figure out how much you’re either going over or going under each month. Knowing is half the battle, after all.
Make cuts where you can
Changing your lifestyle might not sound super-appealing, but it can really galvanise you into action. Once you’ve drawn up your budget plan, examine it for key weak areas and see if you can make changes that will positively impact both your budget and your life. Is your phone contract coming up for renewal? Could you get a better deal on that? Do you really need to buy branded food, or would own-brand be just as good? Do you need all those monthly subscriptions to websites and services? Making cuts so that only the essentials in your life remain feels good in your soul and in your wallet, too.
Get into the game of trading
Whilst this won’t be for everyone, trading can provide people with serious wealth. Of course, it’s not simple and you’ll need to do your research, apply a strategy, maybe even use a robotic trading system like this: https://www.forextradingexpert.net/robots/. As always, use care and don’t invest money you don’t have available, but if you want some inspiration, then check out this list of successful Forex traders.
Don’t be afraid to ask for help
So many people suffer in silence with financial woes because they feel like they should be ashamed. We’re here to tell you that there is no need to feel bad about struggling with your money should you find yourself in this situation; we’ve all been there, and we know how it feels intimately. With that in mind, if you’re short some slightly before payday, don’t be afraid to find and use a good payday loan lender or similar loan provider. Payday loans might have gotten some negative press, but they can be a great way to make sure you make it to the end of the month – just be sure you’ve got the funds to get it back to the lender when it needs to be repaid.
If you’re smart, you might already be doing this, but if you’re not, it doesn’t mean you aren’t smart. A quarter of adults in the UK don’t have a savings account, so you’re certainly not alone if you don’t, but that doesn’t mean that now isn’t a great time to start. Transfer as much of your salary into a savings account as you can – don’t worry if that isn’t much to begin with, as the money will really start to pile up over time. Bonus points if it’s a high-interest savings account, as the money will not only look after itself but generate a pretty hefty profit, too. There’s never a better time than now to start planning for that rainy day.
Settle debts if you can
New year, new you, right? What better time to gather some funds together and finally clock that credit card debt you’ve been worrying about? If you can’t quite stretch to this yet, then don’t worry: following the tips we’ve laid out here should see you right, so you’ll hopefully have a bit more cash at the end of the year than you might have thought. If you’ve got the money right now, but you’re umming and ahhing about whether you should settle your debt or spend it on something more fun, we’ve got good news and bad news. The bad news is that debt should always come first, and you should probably do the responsible thing and settle them. The good news is that once you do, you’ll have newfound financial freedom, so you can start saving or spending a little more liberally.
We hope these tips are helpful in starting you on the path to a better financial state in 2019. Remember, there are thousands upon thousands of people in the same boat as you, so no matter how bad things look, there are always options.