With the New Year already started with a big boom, we are back to square one, talking, deciding and finally making money resolutions to have a crisper 2015. Money saving is a big time resolution that is not easy to follow. You may give up smoke or some of your ill-habits, but saving money and not making unnecessary expenses is surely not an easy task for all. After all, it affects our eating habits, our lifestyle and desires. Too difficult as I already mentioned! But, if you really wish to enjoy a grander life, a life without credits and sturdy financially, you need a Money Resolution.
Here are 10 glorious Money Resolutions for 2015. Read them, Understand them and Follow them to see yourself financially stronger by the end of 2015.
- Save extra money for Crisis Expenses.
Crisis can strike you or your family any time, without giving you any prior notice. In order to stay prepared for such situations, make sure you have an emergency fund for all expenses you had never thought about. This may include medical emergencies, sudden payments, car repairinf, etc. So, make sure you have your crisis expenses covered with your emergency fund.
Every month, save a part of your salary and keep it aside. Use it only for unexpected situations.
- Clear your Debts
Debts can be really painful. They keep increasing if not paid, and can get you into deep trouble. So, this year, no matter how hard you have to work or go off the limits, make sure you take steps to clear your debts. Plan of ways to generate more cash and save the money to pay your debts.
- Follow a budget
The year has just started, and it’s the best time to plan your budget. Include all your expenses, necessities and money in-flow while planning the budget. But, make sure you don’t break it. follow strictly if you really wish to see yourself emerge as a winner at the end of 2015.
- Look for opportunities for more Cash-in-flow
Apart from your regular job, look for opportunities to add more income to your regular salary. This extra income can come from your skills, talent or hobbies. So, think wise, think innovative and get the best opportunities to save more money.
- Invest your finances
Money can’t grow by itself. If you really want it to grow double or triple in quantity, you need to invest it in the right schemes. Invest a part of your savings in the mutual funds, take help from an investment planner and invest them, only after complete satisfaction. Invest money for a better retired life, higher returns and tension free life.
- Involve Family in the Finance plan
When making the family budget, make sure you involve every member of your family in it. for instance, ask your kids to take charge of saving electricity by switching off all lights and electronic gadgets when not in use. Take help of your spouse to keep a track of the monthly budget and make savings. Take their opinions to make your money resolution a success.
- Avoid unnecessary expenses
Holding money, like sand in hand is impossible. It’s natural to feel like making expenses and buy new things which in reality may not even be that important. Avoid unwanted shopping, late payment of bills, eating out regularly, etc.
- Get Organized
Stay organized and learn to keep things in order to avoid unexpected expenses. This will help you avoid missing payments, late fees or penalty charges. Keep a note in your phone and remember to update it regularly for best results.
- Boost your finance skills
Learn about finances and refine your skills to enhance your money resolution every year. Learn the basics of finance and slowly increase your knowledge to perfect your money saving plans.
- Become Tech Savvy
And finally, value time and learn to save energy by becoming tech savvy. Learn online banking, online payment, etc. to save time and save energy. You can utilize this time for other money making plans for a brighter 2015.