There are a lot things you would need money for, if not everything. However, the trick is that the higher you make, the higher your responsibilities and financial commitments. If you have secretly nursed the idea that a particular amount of money would solve all your present debts, then you are wrong. The moment the money hits touch down in your bank account, you would realize you need more.
The most important thing presently is that you have cash ready at hand the moment you need to do something urgently. This is how the idea of saving comes into play. Without savings, all your cash flow would always tend towards miscellaneous, because one need or another would arise with each passing day. This is why you need to take these steps to make more money this year so that you can sip wine and enjoy a fruitful one at the end of the year.
Have a saving account
Saving has now been made easy with the introduction of online mobile saving apps. You don’t need to visit a bank to begin a saving plan. You can do it at the comfort of your home. The advantages of these mobile saving apps is that they are easy to use and you can always monitor your funds any time you wish. Depending on the platform, some of these saving platforms also have provisions for interests.
Have a savings budget
If you fail to plan, then you are definitely planning to fail. To make progress about saving more this year, you need to have a precise and well calculated savings plan. This plan would guide on the amount you need to save and not have to worry about lending money to pay your bills. Once this is settled, then you can proceed to opening a savings account.
Have multiple streams of income
It will not be easy to have only one source of income and still develop a savings plan from there. It is entirely possible, however, it would be financially straining. The best way is to source for other streams of income that can pull you through any financial harm and ensure that you are stable while you save more this year. A side hustle would be the best bet for such a thing. According to your line of profession or passion, you can find something you love doing that would also double up as a means of extra income.
You can't successfully save more money in 2019, if you are extravagant in spending. You have to be accountable and modest while trying to save. This doesn’t mean you won’t be able to enjoy your money, it only ensures that you are comfortabale throughout the duration of your savings plan. You should also have it at the back f your mind, that borrowing with the aim of paying with the saved up money is a disaster and also defeats the aim of saving in the first place. Know your spending limits and set the boundary.
Have a goal
Despite the fact that you follow the rules of saving more money, it is also utterly important that you have a reason for saving money, otherwise the moment the money reaches its maturity stage, you will be back to square one. It is best to save with a goal in mind, in order to channel the money towards the achievement of that goal.
There are a lot of benefits in having a savings plan. Don’t wait to be told about it. All you need do is to start investing today.