It may be hard to believe but we’re finally on our way to the end of 2019. And if you are almost like almost everyone else, we are sure you made financial stability one of your New Year’s Resolutions for 2019. So now is the perfect time to take a step back and assess where you are at with your finances and see just how much you’ve already done. For the rest of us who have not had the chance to start yet, you still have three (3) months to jumpstart your road to financial stability.
Here are the top 5 money tips you ought to instil into your lifestyle while there’s still time.
1. Pay Off Your Bad Debt
By this time in the year, it’s important to focus on finally getting out of your bad debt. Having a bad or long-standing debt hinders you in achieving financial freedom. Make sure your current loans are flexible, payable, and manageable for them to serve as good investments.
What you can do is list down all your loans and take note of each loan’s interest rate. Start by paying off the highest interest debt first so you can keep paying less and less over time, and eventually achieve your goal of fully paying off your debt at a faster rate.
2. Accept the Challenge of Earning More
Make it a goal to earn more money before 2020 starts. There are a number of ways to do this but you can also start by negotiating a raise at your current job. Performance assessments usually come by mid-year and since we’re already past that, gather the confidence to ask for a raise if you have been performing quite well for the past couple of months. You yourself would know if you actually deserve it.
If that idea doesn’t fly, it might help to start looking for a side gig. This can be freelance online jobs, business investments, or even setting up your own business. The key to make this work is to have proper time and energy management. You can also try spring cleaning and gathering old stuff you can sell. You can also go the old fashioned way and set up a garage sale or open an online selling account either on your social media accounts or on an online selling platform.
3. Turn your Dream Car into a Reality
Invest in yourself and your own dreams. The main reason why you hustle and save day in, day out is to realize your life’s aspirations. And one of those may be the car that you’ve been wanting to have since you learned how to drive. It could even be the reason why you started studying how to drive.
But this doesn’t mean blindly jumping into shelling out a large amount of money. Because everything has to be calculated—even risks—when it comes to finances. The best way to go about this is through a loan. And what perfect time to get one than now with our Free 1 Year Auto Loan Insurance Promohttps://www.robinsonsbank.com.ph/news/free-1-year-auto-loan-insurance-promo! Take advantage of this promotion which is only available until Dec. 31, 2019. What a way to end the year!
4. Educate yourself about Finances
Before 2019 comes to an end, make use of the time left to educate yourself about finances. Make it a point to read more about investments, loans, personal finance, and even business finances when you have the time. This gives you access to information regarding how you can better manage and grow your finances.
You can read through the different articles we have to get yourself acquainted with money talk and topics.
5. Save, Save, Save!
There’s only 3 months left before another new year begins. If you haven’t been saving in the past 9 months, then you better start now. With the holidays just around the corner, make sure you have more than enough to spend on yourself and on those you care about the most. Aside from that, save up a hefty amount that can cover you for the rest of the year and at least the first 2-3 months of 2020.
The key, really, is to never stop saving. You set the pace and the budget so just go with what you’re most comfortable with. Don’t be pressured to set aside a huge amount of your salary every month, but just enough for emergencies.
There are only a few more weeks left to the end of the year, assess your finances and make these power money moves today. While we always say that’s it’s never really too late, there is merit with starting off as early as you can. Good luck!