January 27, 2016
With the start of a New Year, now is the perfect time to get your finances in order and make your ‘financially fit’ New Year’s resolution a reality.
While no-one likes to think about their financial health, becoming a better budgeter doesn’t have to be a laborious task.
“Successful budgeting is all about making better financial choices. Just because you are on a budget doesn’t mean you have to cut out all of life’s luxuries – far from.”
The key to successful budgeting is to not see it like a chore, but rather view it as the perfect way to get more bang for your buck.
“Being money savvy will ultimately help you to achieve your financial goals sooner rather than later. For example, if your goal is to live mortgage-free sooner, then the start of a new year is a great time to set financial resolutions. Take the time to review your budget and look for ways to save money and make extra contributions to your home loan.
“At the end of the day, you have to be realistic about your goals. And in order to make your budget work, it is important to allow for treats every now and again. Creating a savings plan doesn’t mean you have to cut out all of your favourite things, it might just mean you have to scale them back from time to time.”
If yoi are able to actively cut back on some of those habitual expenses and re-evaluate the way you spend money, you might be surprised by the impact it could have on your hip pocket.