With the New Year approaching, it's time to start thinking about what changes we want to make. You may want to start a new weight loss strategy, join a gym, or go on a vacation, etc. But it's less common for people to make resolutions that will help them to save money, and improve their financial situation. If you find that you are having money problems, you make want to switch up your resolution this year to one that can help your finances. No, this is not the most fun resolution to have, but saving money means you will be able to afford things that you may have always wanted to and previously couldn’t! Here are some changes to make for 2019 that can help take away debts, while allowing you to start fresh for the New Year.
We have many things in our day-to-day lives that we spend money on regularly. One big example of one of these non-essential daily spending items is coffee. Although this seems like a low-cost item that we would not need to cut out of our budget, it can make a huge difference if you do. For example, if you spend $2.00 on a coffee before work each morning, this means $14.00 per week. That's $56.00 per month! Looking even further, you are spending hundreds of dollars per year on a small $2.00 cup of coffee. How can we cut out this cost without getting rid of our morning caffeine buzz? Well, you can buy your own coffee machine to make each morning on your own. You will notice huge savings in your paycheck each month by doing this. You can also find even more savings by packing your lunch for work as well, rather than going out to eat each day. These two small savings together can really place a large chunk of change back in your pocket.
If you don't already have an automatic savings plan set up, this is a great option to help maximize your savings for the New Year. There are many websites and apps that can help you do this for free. Automatic savings is basically a feature that will grab a designated amount of cash from your deposits in checking, and place it right into your savings account. You can always change the amount that you would like automatically transferred as well. This tool is helpful because we may forget to place money into our savings, on our own. These apps and websites take care of it for you. An example of a free site that offers this feature is, Smartypig. You can use this site to kick start your savings for the New Year.
If you are at the point that your job is just not providing you with the necessary income to pay your bills, you may want to get a side job. With the growth of technology over the past decade, they are many side jobs that require little to no effort. This will allow you to pull in some extra cash without wearing yourself out.
Uber is a side job that can help put up to $500 per week into your pocket. It is very simple to get started, however, you must have a vehicle that is in your name in order to utilize this service. First, you can download the Uber app and click on the “Become a Driver” link. You will be prompted to fill out some information about yourself, your vehicle, and your driving record. You will be approved or denied after a few days via email. If approved, you can start driving right away. All you have to do is open up your app and accept rider requests. This job is so great and convenient because you can work any day or time you desire, and stop when you would like to. Making your own hours for your side job is amazing because you can work at your own pace and time.
If you have already tried many of these things and found that they have not helped enough to get you out of debt, you may want to look into other options. You can always search into loans, such as payday loans, to take the load off. This will allow you to pay off your credit cards and consolidate your debt, eliminating those pesky interest fees.
Happy Holidays & Happy Savings!