A New Year’s resolution is often about learning from the mistakes you made in the previous year. This is especially true when it comes to budgeting. You can really get ahead of the game; setting yourself up for a debt free year. For a long-term budget, we have some great tips to include in your New Year’s resolution.
Don’t get taken by surprise when it comes to your finances. Remember last year when your car broke down, and you had to break into your budget to pay for the emergency repair? Well, to truth is, this coming year isn’t going to be any kinder to you. There will always be some emergency to deal with, so having a safety net is important. Saving a little extra for a rainy day will help you avoid having to pay for emergencies with your credit card!
Think About Your Small Purchases Too
Everyone has their little pleasures in life, but indulging in them doesn’t have to break your budget. If want to splurge on treats, make sure to keep the costs reasonable. If you like to drink coffee in cafés, try finding one that offers a loyalty card or rates. Most businesses today offer discounts, so try to reserve your splurges for occasions when you can get a deal.
Give yourself something to look forward to by setting budgeting or having saving goals. Don’t set your sights unrealistically high; instead take one goal that is achievable within a fixed time scale, and then focus on that. You can save for a car, new furniture, a clear credit card bill, or anything else that will give you a sense of achievement. When you reach your goal, remember to give yourself a pat on the back!