How many of us, honestly, have decided on January 1 that we’re going to quit smoking, join a gym, or never to swear again – yet you reach December 31 and nothing had actually changed?
Well, your New Year’s Resolution this year can be different. Make it a financial resolution and one that you’re likely to fulfil.
Here are some tips that will not only help you come up with a great New Year’s Resolution, but will help you accomplish it as well:
- The old-school piggy bank
You and your partner should put away a portion of your salary. Place it into a bank account that has no debit card attached to it. Every month commit to putting away $50 or $100 each. You can set-up automatic transfers so it happens without you even thinking about it. Before you know it, you’ll have a piggy bank that’s built-up hundreds of dollars in savings which you’d have otherwise spent in no time!
- The luxuries you can really do without
We all love our favourite supermarket store. The one with the ready-made pasta and microwavable meals. The ones that have quality food wrapped everywhere. We’re talking about those shops that have your lettuce already washed and ready to eat. The cost is just not worth it when you can really wash your own lettuce. Try it for a month and see if can survive. Visit your local market instead and look for better deals on fresh produce. You’ll soon see the money remain instead of flying out your account.
- Second-hand stores – don’t knock them until you’ve tried them
When Australians think of second-hand stores they think of the Salvation Army and the bits and pieces of broken toys, like a doll with just one eye. Creepy. Or a dust-sheeted lounge suite that would give you emphysema instantly! The truth is, it’s not like that at all, and the goods you will find there are quite spectacular. Why not kill two birds with one stone and visit the second-hand store to find something that you promised you’d buy yourself. You’ll be surprised with what you find!
- The new car that won’t ever take you to C, if you only need it for A to B
In the New Year, there seems to be a boost in car sales throughout Australia because people have this idea that a new year means a total change. Many buyers even purchase their car in December because they feel that tingling end-of-year sensation. However, do you really need a new car that has extra power when your daily trip is mostly spent sitting in traffic on the way to the office – if you even drive at all?
These are basic tips – but perhaps tips you’ve never thought of before. They may be small tips that can help you reduce your financial expenditure over the next year. Whatever your New Year’s Resolution is, make it realistic and ensure you stick to your goal.
There’s also a good side to your financial resolution too. It comes in the shape of a reward. The money you save can go towards something you’ve always wanted or go on a holiday. But at least you’ve saved up for it and you’ve put yourself in the best position to be able to afford it.
If you want any further advice about setting up a financial New Year’s Resolution, get in touch with us today on 03 9853 0641.
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