5 Ways To Improve Your Financial Life Better In 2019

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Every year one thing that stays consistent is our failure to comply with our new year resolutions. There is a reason that 80% of our resolutions fail by the second week of February?

Resolutions are all about self-improvement, and managing money is one obvious area where many people can do better, but often there are moments where we have no idea where to begin from and what to begin with. Setting achievable goals based on where you are now will help you stick with your plan long after January.

If you’ve resolved that 2019 is going to be the year you whip your finances into shape, then you have to make sure that you stay consistent enough to keep your resolution on track for the entire year. Here are five New Year resolutions that you can take which may help to boost the savings.

Don’t overspend

If you wanted to lose weight, what would you do? Obviously, the smartest thing to do then is to consume less food and exercise more. Similarly, achieving financial fitness means reducing your spending and bulking up your savings more and more.

Developing a written budget and making sure every penny from your wallet has a particular purpose is one of the best ways to get your spending under control. Exhausting the total credit card limit, taking short-term loans from friends, and purchasing unnecessary things should be avoided.

Get fit without a gym

You don’t really need the gym to get fit, you can do that just by going for a jog every morning and if you have just started your career, then it might not be a smart decision since the memberships are pretty expensive which in turn means that very high as a percentage of your total income will be wasted away.

Reduce frequency of eating out

Eating out very frequently can erode your income much before the month-end. Instead, you can plan house parties instead of eating out and can reduce the frequency of eating out.

Plan your travel in advance

Booking flight tickets and hotel stays in advance is much cheaper as compared to immediate bookings. This means that you can make arrangements at least two-three months before your planned travel.

Get health check-up

By getting a complete health check-up at the beginning of the year, you can make sure of illnesses or diseases, if any. Taking precautions at early stages can be good for your health and will put less burden on your pocket.

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