Is saving more and spending less one of your New Year's resolution? Organize your finances and make it happen. Whether you are learning the art of saving or trying to cut on your expenses, these tips will help you organize your life in 2016 and save more money.
Autosavings
It may sound too simple, but having an autosavings is really a struggle, especially when you are on a tight budget. However, opening an autosavings account will actually help you discipline yourself and cut down on your expenses.
What you can do is to automate a part of your salary every pay day and then work with what's left. As some people who say, "savings first, expenses later."
"Otherwise, if you rely on yourself, you'll spend it" or use it for bills. It's kind of the set-it-and-forget-it kind of thing." Kendal Perez, spokeswoman for CouponSherpa, says.
Keep goals front and center
Make your goals clear and stick to it. Remind yourself regularly about your goals and revisit them consistently. If you must put a reminder on your bedroom wall, do it. If you must come up with a smartphone wallpaper with those goals, do it.
It actually helps keep you on track with your goals.
"When we're tempted to spend beyond what we should, we fall back to the goals," Michelle Singletary, nationally syndicated personal financial columnist for the Washington Post and author of "Spend Well, Live Rich, says.
It is also helpful to assess your goals every once in awhile. Where are you at in terms of achieving your goals? What else can you do to achieve those goals? Do I need to cut back, work more, spend less?
Check your budget
Checking your budget in the first quarter of the year is not as hard as it is in the fourth quarter of the year.
That is why it is important that you revisit and check your budget. Make a logbook of expenses - whether through apps or through an actual logbook.
Set mobile reminders about your budget. Jot down every expense as much as possible and then get rid of those who are not necessary or vital for your success as of the moment.
Always check and balance.
Remember, life doesn't start at retirement. You have got to organize your financial life as early as now. Who knows, you might be on your way to save your first-ever $100,000 this year.
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