RECOMMENDATIONS ON improving your PERSONAL FINANCEs FOR year 2019
Tonight we are going to say goodbye to 2018, drink champagne and ring in the new year! As always, on January 1st, of every year we set New Year’s Resolutions. For example - In the new year I want to run in the mornings and lose weight; I want to eat healthily, drink more water, I want to learn a new skill, a new language, I want to find a new job, read every day and so on…
I want to share with you that For 2019 I have very ambitious goals! One of them is to work on my personal finance blog and grow my audience! I have been working really hard on a personal finance course that will be available very soon and accessible to everyone. All you have to do is subscribe to my youtube channel and stay up to date on upcoming videos. You can watch these videos while walking your dog, cooking or listen in your car. Again, Please Like, share and bookmark this channel if you would like to learn more about financial literacy!
The year 2019 is the Year of the Pig according to Chinese zodiac. The pig is a symbol of luck, good fortune, wealth, honesty, prosperity, hard work, and so on. Most importantly we associate the pig with SAVINGS! If you learn to save and manage money well, then you will do yourself a big favor!
So, here are some of my Recommendations or Financial Resolutions for the year 2019
⠀1. First of all, please subscribe to my channel – and benefit from the educational materials that I will make available throughout the year.
2. Resolution Number two: Make a budget that works for you. This is very important – to make a budget that corresponds with your earnings and spending habits. Make it practical and convenient. Make it easy to follow; otherwise, you will abandon it in a week. I will have a video posted the first week of January about budgeting, so make sure to follow it.⠀
3. Also, Set your goals (or resolutions) and write it down. You can even frame it for God’s sake and put it on the wall, so you see your goals every day and follow them. Make sure to include your goals in the budget. I will teach you how to do it in my upcoming Financial Planning Course on Youtube.
4. Put money in a savings account or invest it if you know how. Make sure to plan your budget in a way, that you always have money left to save or invest
5. Be creative and learn how to save money on everything. This is my favorite topic and I think I am pretty good at it! Some of the examples would be – buy items on sale, avoid buying stuff that you don't need, negotiate, cut down on waste, learn to cook and save money on eating out. (by the way, this is healthier for you anyways!). Also, Keep track of savings and use this money for accomplishing your goals. Here is a simple strategy – If you stop buying a $5 Starbucks coffee every day – you would save $1,825 in a year! You can use this money and go on vacation (well, or part of it at least)- but you got the point.
6. Give money to charity
7. Here is another important resolution- Find ways to make extra money in your spare time. There are so many ways to do it – Uber, Lyft, or rent your spare room on AIRBNB, babysit or teach other people, create a Youtube channel and start monetizing it... and so on.
8. Make sure to earn more money than you spend ( ta-da-a-a, budgeting!!!). First, earn the money and then spend it.
9. Pay off your credit card every single month. Don’t be late. This is very, very important. If you manage to do that well- you will avoid debt and stress. Remember the golden rule – if you can’t pay for your purchase in cash right now (even if you pay with credit), then don’t buy it; because if you use the credit card to buy this expensive item, then you won’t have money to cover the credit card payment at the end of the month. So, don't buy anything on credit if you can't back it up with cash. This does not apply for real estate or large purchases like a car and so on. I am mostly referring to day to day purchases.
10. Now, here is the last resolution on my list for today, but it is not the least important. That is - Save money for your retirement. This should be your goal Number ONE. Even if you are in your 20’s- you should start putting money aside towards your retirement account. Open an IRA or a 401 (k) account and contribute money from each paycheck. Over time, the money grows and will benefit you down the road. I have a video on my channel about all strategies you can use to maximize your retirement contributions while decreasing your taxable income right now!
There are many other tips that will help you become more successful, wealthy and happy. Again learn and plan and start doing that today.
Getting rich quick overnight is fake news, and you don’t have to pay the big bucks to learn these essential skills. Please follow me on social media and learn to manage your finances. I believe that It is very important to learn Money Skills as early as possible; I would say from childhood, so when you grow up – you do what you enjoy and not have to slave for money doing a job that you hate.
So, let’s make this year a successful one and learn to be more successful and happy! Please subscribe to my YouTube channel and follow me throughout this journey!
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