BRILLIANT WAYS TO SAVE MONEY IN 2019
Do you need tips on how to save money? Well, having money of your own is not something that will just evolve in a day, it comes with saving, investment and hard working. So if you are on a mission to be financially free, 2019 is here and you have all it takes to reach your dream money saving goals! To get this done, you only need to stick glue to the simple money-saving tips to be discussed, sooner – and boom, your money budget will be balanced in a few months.
Time will come when you will feel stretched thin, tired and can’t save a dime, don’t be worried or discouraged, you can just relax and offer yourself more breathing room. Whatever the case may be, the money-saving tips to be succinctly explained are truly useful and helpful; if you are committed enough, this new year may be your year of divine upliftment.
1. Shun Bitcoin and other high-risk Ponzi.
There is no point arguing the fact that Bitcoin, cryptocurrencies and another Ponzi scheme might work out for you offering you some fortune overnight, but don’t be surprised when those schemes bankrupt you later. If you are investing in them to save and increase your earnings, then cryptocurrencies and Ponzi schemes are probably not for you.
2. Go for higher cash investment returns.
In a bid to save your money, you can’t sit down and wait for higher investment interest rates to come find you, you have to take a walk go find them. Move your capital investment into a high yielding business that is federally safe, fully liquid insured.
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3. Plan Your Weekly Meals to Save Money.
If you so much desire financial freedom, you need to cut some expenses that are not necessities; and among them is eating in a restaurant or anywhere outside your home when you can help yourself at home with the same. So form the habit of eating at home in order to keep a substantial part of your earning. Draw out a weekly plan for your meals and come up with a not-too-expensive grocery list just to ensure that you stay on/or under your shopping budget.
As a matter of fact, make it a habit and always have any handy beverage or snacks at home so you won’t have to resort to going to a nearby restaurant or ordering for one online when in reality the price margins on restaurant foods and delivery services payment rack up fast. But having all your favorite food at home is much more than a win for your monthly savings.
4. Review All Your Accounts
Reviewing your account will open your eyes to where you have to spend excessively and where you are not supposed to spend at all. So in the course of assessing your financial state of affairs, make sure that all your payable accounts are put together and they are accurately listed. If you are paying some people salaries list them along with their earning.
Also, reviewing your credit card log will also open your eyes to some aspects you need to improve or better still, remove completely. Check and assess the exact cost of your cable plan, phone plan or internet subscription. So, therefore, carefully identify any form of subscription services you or your business pay for; and review them thoroughly in order to know what and where to cut free your enormous budget.
5. Don’t be swayed by the current market stock volatility.
One of the best ways to save money for the future unknown is to resolve not to be discouraged or sway when you receive your year-end brokerage account statements. Panicking will only lead you to make rash financial decisions as a result of the unpredictable current market stock. With patience and rational thinking, you stand the chance to make 2019 the perfect year for you to maintain your money spending budget as well as to meet your money-saving goals.
6. Shopping with Cash
Going shopping with huge cash at hand plus a credit card is the quickest means to spend beyond your budget. Instead, before setting out for shopping, drop your credit card at home, do the maths of all your needs and go with the exact amount you will be spending on groceries and the likes. While you may want to use the debit card for some important purpose or larger purchases, ensure you discipline yourself and don’t spend beyond the budget.
The important nature of visual confirmation of cash payment or transaction of smaller bills will help you -immensely – to keep a tab of your shopping perspective plus strengthen better purchasing decisions.
7. Contribute to your retirement plan in a bid to save money.
A retirement plan is known as a 401(k) in the entrepreneurial world and it is ideal for every employee to keep a close tab of one. So if you are interested in saving for the dry season as an employee, you should contribute some token to your 401(k). If you are doing this already, you can do better and if not, 2019 is the best time for you to start.
8. Always pay your bills early.
You need to be mindful of your bills if you really want to save money this 2019. It is advisable you your bills as early as possible to avoid getting hit with irrelevant penalty fees. Even, paying your bills late will have a negative impact on your credit score and this can result in serious consequences.
Consequences like limiting your ability to rent an apartment, receive a loan from financial institutions, make it difficult for you to get wireless mobile service, it could speed up your insurance cost just to mention but few. And erasing this damage is something that take years, please take note.
One of the important elements they do use in determining credit scores is payment history so with a single late bill payment your credit score could drop as much as 100 points. And it may take years to erase the damage.
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So, therefore, it can be deduced from the above tips that saving money is not something difficult to do, it only comes with discipline, determination and hardworking.