We've got a few weeks to go until the new year hits, and that's the perfect time to plan how you’re going to approach this fresh year. What can you do to change things and make 2017 a better year for you and your family? Well, this kind of depends on where you’re coming at it from, and what problems you may have had in the previous year.
One of the things it’s important to get right over the new year is any financial goals you may have. So many families feel the brunt of money problems in the new year following the expense of the festive break. So, it’s the perfect time to think about how you can get yourself back onto sound financial footing, and be more comfortable as a family. These are some of the great suggestions you can make use of that will help you to gain financial freedom for the new year.
It’s important that you try to stop spending as much as you can. The festive period, in particular, can be really expensive. It’s something you need to keep on top of at all times, and this is harder than it may sound. Expenses tend to grow, and they don't go away easily. So it’s important to make sure you do what you can to stop spending as much as possible. Think about where many of your expenses lie and try to be sure you reduce the cost of your outgoings. Making a few changes in your life will help you understand how to reduce spending and cut the costs of living as a family. You’ll find yourself with more disposable income and a more comfortable financial position.
You also need to do as much as you can to start generating savings of some kind. So many families all across the US seem to struggle with this. In fact, it’s thought that the majority of Americans have less than $1,000 in savings. So, this should be the wake-up call you need to start really focusing on making your savings as perfect as possible. Many people struggle to generate enough savings that they have money aside for a rainy day. That's why you need to try to come up with ideas and methods that will help you save money as much as possible.
Be More Frugal
Frugality is something you have to prioritize in the coming year, and you may find it tough. But that why these posts exist; to help you find ways of becoming more financially stable. Being a more frugal family is a process that the entire family can be a part of. It’s just a case of figuring out what you need to do to become more frugal. Stop buying frivolous things you don't actually need. Start utilizing sales and second-hand items, and think about using hand-me-downs as well, where possible. Get the whole family involved in the process of being more frugal, so it makes it easier to work together.
Green is the Color
Going green is hugely popular among households these days, and it’s something you need to work toward. If you’re serious about saving money why not start the new year off with a deeper shade of green? Try to make your home more eco-friendly because you will save money as well as caring for the environment. You might have to spend a bit of money eventually if you want to enjoy things like solar power. Until then you can focus on saving power, recycling, upcycling, and trying to grow some of your own food. If you can go greener in your life, you will find it helps you a lot more on your financial quest.
Have a Cull
You know when people talk about having a Facebook cull? Well, you need to do the same but have a cull of your possessions. Go through everything in the home, and come up with a list of anything that isn't used or wanted. This is a good way of selling excess possessions to make a bit more money. And you can get rid of things that might be eating up money for no reason. For instance, if you have an extra car sat in the garage, this is an expense. If you’re not using it, then it's time to remove the expense by getting rid of the car.
Waste Not Want Not
Waste not want not is one of the oldest sayings in the world, and you can see how it applies to saving money as a family. If you can make things stretch further, you will be in a perfect position to save yourself some money. Think about what you can do to ensure you aren't wasting. For a start, you need to look at making sure you aren't wasting food when you have meals. This means you've got to save leftovers as much as possible. You can freeze them and use them at a later date. It’s also important that you think about upcycling as well because this will give you new uses for things in the home, and prevent you from having to spend too much money.
Hire a Financial Advisor
Sometimes, when it comes to trying to keep on top of your finances, you need help. This can be difficult to achieve, and you may wish to look into hiring a financial advisor. They will know tricks and tips that you would never event think of that will help you. Keeping close control on your money and the family finances are really crucial. But, yo to stop yourself becoming overwhelmed, you can start this year off with a financial advisor. Getting help and support for yourself is a vital part of the process of formulating sensible and sound financial plans. You need to know and understand your situation and keep a close eye on your personal financial situation.
Know Your Money Inside Out
One of the most important things you can do to reach your goal of financial freedom is to know your money inside out. That means you have to know how much you have coming in every day, as well as how much you need to spend. There are a lot of costs and expenses these days, and you need to focus on how to make them better. If you know and understand your money better, you will be able to take the necessary steps to take better control of the situation. This will help you build and work toward financial freedom and better security for the family.
One of the great techniques you might consider using in the coming year is to regift. This is where you take gifts you have been given over the course of the year and save them. You can them pass them on to other people for things like birthdays. It saves you having to spend money on gifts over the course of the year. It can be expensive if you have a lot of birthdays or weddings to attend. And that's why regifting is an absolutely vital way of saving money and securing valuable funds for yourself. This might be something you’ve not considered before, but now you can use it every year to save yourself look money and stress!
Get Extra Funds
Generating extra funds is something you need to spend a lot of time focusing on. We could all stand to save a bit more and have a bit more cash to fall back on. This is something that is hugely important to get right. Extra funds can be generated in several different ways these days. You might decide to take on an extra job, so you have more income each just month. It might be worthwhile considering a loan, particularly in light of new lending regulations. Or, you could choose to sell some of your unwanted bits and pieces for some extra income. This is something you have to make sure you try to implement because it will help you be a little more comfortable.
Don't Let Debts Mount Up
Falling into a spiral of debt is one of the worst things you can do, and it’s something you have to avoid. The thing is that there are so many issues with debt that it's difficult to avoid. Staying debt-free and keeping your financial affairs on track is so important. You have to understand how much you are spending and what might be causing debt in your life. If you are facing debt problems you have to make sure you think about consolidation. Getting out of it and becoming debt-free is one of the most important parts of financial freedom, and the perfect start to 2017.
Working toward financial freedom for the new year is hugely important, and you have to make sure you do what you can to achieve this. There are so many areas of money and finance that can prove problematic. And you have to greet the new year with a fresh financial start. Achieving this comfort and freedom is something you have to make sure you focus on as much as possible.