The New Year is fast approaching, accompanied by many good resolutions that we would like to see. But every year it’s the same thing: these resolutions are difficult to keep in the long run. But this time, Rose Western helps you stay in control of your personal finances so that the next 12 months go by without a hitch.
Pay your debts
Nobody likes to have debts. However, this is sometimes unavoidable. That is why it is essential to get rid of it as quickly as possible by paying off all monthly payments without delay. Because once the cycle of payment defaults has begun, it is difficult to stop the downward spiral of over-indebtedness. If you’re having trouble paying it back, do not be afraid to talk to some of your loved ones or your financial advisor to find the best way out. There are indeed solutions to help you keep your head out of the water. For example, think of credit consolidation, where you collect all your credits in one, allowing you to pay only one monthly payment. The debt mediation service or the collective settlement of debts are also options to consider.
Make a budget
Good resolutions often involve the management of your budget, which goes by the realization of a financial plan, with your money and current expenses. So, create a file divided by month and insert in a column your usual expenses, such as your rent or mortgage, the various bills of water, gas and electricity, shopping, your budget activities and outputs, … In another, mention your various income, whether it is your salary, that of your partner, potential family allowances or unemployment, rent if you own a property that rented, …
This file will give you an overview of what you have left once everything is paid. This will give you a rough idea of what you could put aside if you want to save. On the other hand, if the amount of your expenses exceeds that of your income, it is that there is a problem: you must then study everything in order to see what is problematic and where you could cut.
It’s hard to radically change the way you do it, live or spend. That’s why we have to start little by little. Once a habit is installed, move on to the next, so that they become anchored and that they become an integral part of your daily life, namely an automatism that you do not have, no definition, no more thinking .
Identify the best credit card
Many Belgians have a credit card in their wallet. And yes, what’s better than having fun while paying later? On the other hand, there is a whole range of credit cards that are more interesting than others. Therefore, finding the one that suits you is not a small one, so it’s useful to compare all offers on the market. And that’s exactly what you do for you.
Do you make savings?
Having to pay a certain sum at an inconvenient time is unfortunately more common than we think. Whether because of a pipe that explodes, a weasel that gnaws the cable of your car, the washing machine that makes the soul, … That’s why it is essential to build up savings, whether through a savings account or a savings plan.
You can also start thinking about your old age. For example, setting aside with long-term savings, pension insurance or other will allow you to build up a small amount of money that will be useful when you retire.
Say stop to unnecessary purchases
Crack for the latest iPhone, this beautiful dress, these brand new loafers, a beautiful curved television, … is very easy. On the other hand, this usually represents unnecessary expenses because you do not really need these objects. Despite the temptation, it is essential to learn to control yourself and say no to these impulsive purchases. This will save you from spending money that you do not have or just a sum that you could save for savings.
With all these tips, you are ready to start a new year with confidence. Embrace your good resolutions now and manage your personal finances right from the start!