5 Easy Tips To A Stress-Free Financial Year

It’s already the New Year and if you haven’t already decided on your New Year resolutions, there’s still time to make a financial resolution and get your finances in order for the year ahead. Sound daunting? Follow these simple steps from Anna McDougall from Money Haven to ensure your own stress-free financial year!

stress-frree-financesimage via pinterest

1. Create a Financial Plan

…and stick to it! A financial plan is rendered meaningless if continue to use your money as you did last year. Forget past mistakes and learn from them. Keep yourself on track by reviewing your plan weekly as well as your daily transactions and see if what your spending will result in your financial goals. Ask yourself, “will this transaction benefit my financial plan?”

At the end of each day it only takes a small amount of time to scan over your main accounts to ensure all charges are accurate and review any purchases you may regret later.
Also make sure you’re partner or spouse is on board with your financial plan, that way you you will be on the same wavelength and can work together through any set backs.

2. Set a Serious Budget

Forget a “few hundred” here and setting “a grand or so” aside there, if you’re serious about getting your finances in order, you’ll need to know your incoming and outgoing finances down to the very cent. This is so you can understand the amount of disposable income that your salary produces each month. If you don’t know how much you have to spend each month, then how can you make financially responsible purchasing decisions? If your budget is entirely accurate and based on facts then it has a greater chance of succeeding.

3. Pay Bills On Time

Sounds simple, right? To ensure all your bills are paid on time make sure to review accounts monthly. To help you not forget, set certain expenses to be paid monthly, or weekly from your account by either BPay or direct debit.
If the funds aren’t there, do alert the institution as to when you will be able to pay the bill or organise a payment plan that suits your income.

 

4. Spring Clean Your Finances

Think about the money drainers in your life at present; things that made sense years ago might not fit the bill (pun intended) anymore! Going out for dinner all the time? Limit it to once a week or an extra special occassion. Have a gym membership but don’t actually use it? You’re gym will get over it and you could save hundreds. Husband love to detail the car? Save it up as a Christmas or birthday present. Clothes you really don’t need to buy? Enough said.

5. Earn More Money

Bikes in the shed, gym equipment gathering dust and designer labels worn once… sound like you? Make a small fortune by selling your pre-loved items (in mint condition) over online forums; if you’ve got it someone is destined to buy it, or at least make a bid! You’ll be able to earn more money and put it away into saving or pay off any debts.
Pick up a part time job or find a way to make cash from an honest at-home business – the possibilities are endless!

 

Like what you read? Subscribe to our free newsletter for exclusive content and special offers

Related





  • Insta: Follow @rescu.com.au

    • Well that was fun πŸ™Œ When you get to play race car driver with a #thoroughbred @ferrariaustralasia thank you for an amazing day with the #gtc4lusso 😈 regram @jacquiehayes my co-pilot
    • Welcome to Australia! British retailer Debenhams are bringing a new super curated retail concept to Melbourne. Opening next Tuesday (just in time for Spring carnival) on Collins street the single level store is a game changer. Think personalised service, exclusive fashion brands and a chic beauty and accessories offer.  Oh and you will love the amazing MAC cosmetics concept store. β™₯️ #debenhamsaustralia @maccosmeticsaustralia @debenhams
    • Sporty spice 🎾 channelling my inner eastern suburbs housewife but actually hustling like a MOFO every day.
    • Tom Ford forever β™₯️
    • Finnish design by #iittala , amazing food by #Blanca and a cocktail master class by #FinlandiaVodka. #werkwerkwerkwerkwerk
    • Eyes wide shut
    • Because I like caviar every day .. this latest addition to the La Prairie Caviar family is an anti ageing miracle.. fills, plumps and I think even makes my Botox last a little longer.. #skincaviarabsolutefiller
    • Using red lipstick as legit form of mood therapy. β˜ΉοΈπŸ’„πŸ’‹
    • This is my school holidays are over kick πŸ€— Mummy's making a comeback baby!

  • Get your dose of fabulous delivered to your inbox.

    Sign up for Rescu's newsletter to get updates on top stories, horoscopes, trending videos, and inspirational content.

    SUBSCRIBE NOW!

    Get fashion, beauty, finance, health and love advice from our experts.

    Rescu is an online fashion, beauty and premium lifestyle site. Whether you are looking for fashion, beauty, finance, health and love advice you will find a wealth of information from our resident experts. We publish new content daily so don’t be left behind. Log on daily for the latest fashion, beauty and celebrity news as it happens. Subscribe to our newsletter and enter our contests to win fantastic freebies.