2019 is looming over the horizon and together with the New Year comes our New Year’s resolution to improve our finances, as we promise ourselves that we’ll do better than in 2018.  However, most of us will set some grandiose financial goals that are almost impossible to attain like eradicating debt within 6 months!

In this post, I will be giving you some financial guidelines that you can easily implement to help you set realistic goals with achievable targets.  So buckle up and let’s begin our journey into 2019.

  1. Mindful spending – make a conscious decision to spend less than you earn and learn to live within your means. Sounds a bit difficult? Follow my tips which will help you on your way.
  2. Pick two budgeting clauses such as: food, clothes, entertainment, eating out or trips for example. Then decide to streamline these expenses, by determining how much you want to spend on these items.  Remember to be realistic about the amount and stick to it.  You will be surprised how easy it is.
  3. Pay ALL your bills on time – this means that you will not be charged interest for late payment. This easy task can save hundreds of shekels a year!
  4. Pay with the money that you have and avoid taking out loans. Taking out a loan costs money and this means that you will be paying more for an item than it is worth.  Think about it!
  5. We live in amazing times and can do market research by comparing prices for any item that we wish to purchase on the internet. Surfing the net and shopping around can save thousands of shekels a year.
  6. Remember to enjoy your money, so start your holiday fund at the beginning of the year so you can enjoy a well-earned vacation.
  7. Lastly but most importantly, I suggest you draw up an annual plan. This plan should include all the events that you can forecast: for example, when do you want to take your vacation that you have saved for? Pesach, kids going back to school, higher electricity bills in the summer/winter and so on.

Make sure you start 2019 the right way!