Money habits can be some of the easiest habits to form, and the toughest ones to break. When it comes to our money habits, we are more likely to keep doing the same things over and over, even if they’re not good for us. If you are looking to crush 2019 and take back your finances, here are 7 money habits you need to crush in 2019.
Automate your savings
If you want to save more money in 2019, you need to start treating your savings just like you would any other bill. Set up an automatic draft every single month to make sure you always are making a contribution to your savings account.
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Make a plan for every single dollar
It’s important to make a plan for your money because if you have leftover money, you’ll spend it. Make a plan of what you’ll do with leftover money and every single dollar that hits your bank account.
Try making a goal to put extra money on high interest credit cards or loans that will help save you a lot of money in the long run. Plus, think of where you could put the funds once a specific debt is paid. This is a wonderful feeling!
It’s okay to give up frugal habits that aren’t worth it
If making bread from scratch is so tedious that you feel like you need a McDonald’s hamburger after you’re done making bread, it might be better to give up making bread. Some frugal habits are a worthwhile investment, but it’s also okay to give up the ones that are causing you stress in your life.
If you’re spending more time looking for coupons when you could actually be out earning more money. This might be a good clue to back off on the coupon hunting! Only spend your energy on what serves you.
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Get creative and make substitutions when you can
Substitutions can be something as small as using what you have or finding a replacement that will cost less. I’m not suggesting you cut corners, but look for opportunities to get creative and make substitutions before you go buy something new.
Part of this is also know what you already have. Is our pantry or makeup drawer organized? Keeping like items together in your home will help prevent you from accidentally buying something you already have.
Get a better understanding of your spending habits
Knowing why you make the purchasing decisions that you do can really impact your overall financial future. You can better identify situations which make you want to spend money and break those bad money habits.
If you find you waste a lot of money right when you get paid going out to eat, buying the items in your online shopping carts, for example. Try giving yourself an allotted amount for your next paycheck. This will empower and help prevent overspending on a whim.
Plan out your purchases
Purchases are very rarely something you don’t see coming. Even if it’s buying groceries for the week, make out a list before you head to the store. Planning out even the small purchases will help you stick to your budget and control your spending.
I find this trick helpful when I know I will be buying new clothes or a larger household purchase. Doing research beforehand will not only prevent compulsive overspending but will ensure that new item you buy has all the features/benefits that prompted you to go buy it in the first place. Hey! You may even save some cash by strategically shopping around sales, too.
Good Money Habits Include Investing in yourself
Investing in yourself is one of the most rewarding things you can do. There are a number of ways to do this, but it’s all based on what you are looking for. Add more money into your retirement account to boost your future savings, buy a course or take some online classes to help you increase your skills or knowledge on a subject, or even get yourself quality clothing. All of these are ways you can invest in yourself that will pay off big time.
These seven simple habits might not seem like much, but they’ll add up to big savings and better money habits down the line. While some of them might be a bit of an investment or a complete change of pace, they are going to help you crush 2019 and improve your finances.
If you have used any of these techniques or have others to recommend, we’d love to hear about it on our Facebook page!
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