5 Ways To Overhaul Your Personal Finances For 2019

The New Year is approaching. You will want to welcome 2019 with lots of positivity. So, stop stressing about money and start resolving to do better in the New Year. You do not have to wait until the New Year to improve your finances. It is a sound idea to start making small steps daily from now until then. After all, luck is the product of preparation meeting opportunity. Without further ado, here are some useful tips to help you overhaul your personal finances:

Review Past Expenses and Set New Goals

Now is the time to be honest with yourself. Work out past and current spending habits that made you feel awesome and those that did not. Write down expenses that were not completely necessary. You must differentiate needs and wants. They are different! Here is a basic flow that you can follow: check your account statements, group (categorize) your expenses, and identify room for change. By doing these, you can make the necessary adjustments. For example, recurring monthly expenses pertaining to car loans, utilities, mortgage, etc. Now that you are more aware of your mistakes, you should not repeat them. Set new goals and stick with them throughout 2019.

Plan a No Spend Day / Week / Month in Advance

There are times when you need to temporarily freeze your spending for a few days to reset your finances and save more money. Try incorporating no-spend days into your schedule, e.g. avoid touching credit cards or withdrawing money from your bank account. Aside from spending on necessities such as groceries, toiletries, gas, etc., during these periods, ensure that you eliminate any extra spending. Always start small, so that you won’t feel the pinch. For example, you can pack your lunch instead of eating out. Or you can drink instant coffee instead of Starbucks.

Drive Less, Walk More

By choosing to walk, you can lower your gas bill, contribute to saving the environment, and more. It just gets you moving. Other benefits of walking include reducing one’s risk of stroke and heart disease. Additionally, you increase both cardiovascular and pulmonary fitness. Other alternatives to walking include taking the bus or riding the bike.

Sell Items that You No Longer Need

It is about time that you start decluttering your storage space and make some extra cash out of it. There is a wide range of music stores and bookstores that are willing to purchase your old books, DVDs, and CDs. Start going through your belongings now. You may soon realize that you had all those things you did not need in the first place.

Be Savvy with Remittances

Need to send money to your loved ones overseas? You should know by now that you no longer need to depend on physical remittance outlets. Today, online money transfers are comparatively faster, cheaper, and easier than physically sending or receiving cash. Oftentimes, you may get less value from your remittance service if you deal with cash. At Sharemoney, we strive to help you save more on remittance fees. In addition, give you competitive exchange rates online. When you choose us, you do not have to spend money on agents or branches. Check out how our services work today!