Top Tips For Starting (and Keeping!) 2013 Off On The Right Financial Foot

bulram | January 21, 2013

The Right Financial Foot

It’s hard to believe that not even a month has passed since Christmas – it all feels like forever ago now, right? All the presents you received have long been opened, and many of them have already been shoved away in that drawer along with the rest of your belongings.

But, there’s one repercussion of the festive period that you wish would have passed as quick as the festive feeling did; the financial aspects of it all. I’m sure I’m not alone when I say that January has felt like an impossibly long month financially – it feels like an age since you were last paid and so far, you’ve spent much the new month just trying to stretch every single last penny as far as it’ll physically go.

Well, to make sure it’s only one month that feels like this, and to ensure that the rest of 2013 is as financially stress-free for you as possible, here are my top money tips that will hopefully help to make the 2013 your best year yet:

1. Save, Save, Save!

Now, I know that this is probably one of the oldest tips in the book, but trust me, because if you can work on actually sticking to it, then you’re bound to start the year off on the right foot.

The trick is to start saving at the very moment you receive your monthly wage – don’t attempt to try saving some of your wage at the end of the month or halfway through, because quite simply, it won’t work. Open up yourself a savings account and as soon as you receive your pay take a reasonably chunk of it and chuck it into a savings account – and keep it there! Because, putting aside a small proportion of your wage every month really will do wonders making sure you stick to saving.

2. Consider Every Aspect of Your Spending

Whenever you turn to buy something in 2013, take time to ask yourself the question, “do I really need this?” or “is this item a necessity?” Now, of course, I’m not talking about essential items like food here, because of course, these are the kinds of items you literally can’t live without.

I’m talking about the more material items, such as the latest clothes, technologies and entertainments that we all like to spend our money on from time-to-time. But, when it comes to finances, it’s important to be strict when it comes to such expenses, because quite frankly, you don’t really need them. Cut back on some of these outgoings for 2013 and you’re bound to see an improvement with your personal cash flow.

3. Learn To Budget

If you weren’t too good at budgeting in 2012, then 2013 is the perfect time to finally become good at it if you want to have a more financially successful year. Each month, take time to calculate all of your monthly outgoings on all of your frequent and expected expenses – things like your weekly food shop, the heating bill, the water bill and your phone bill. That way you can easily keep track of how much money is going in, how much is going out and therefore how much you have left over.

However, I know only too well that as much as you have the best intention of budgeting and sticking to it at the start of the year, things can crop up throughout the year that may leave you a little out of pocket; things like the car breaking down, or the heating in your home packing in – often resulting in your whole budget going out the window.

If this happens to you, then there may be an alternative answer that’ll help to make sure your budget stays right on track. Payday loans are a short-term financial help that allow you to borrow a certain amount of money that’ll be enough to help you get by with your problem until your next wage packet comes – so, you can easily factor it into your budget, and pay it back, for when you’re next due to be paid!

Ella Mason, an experienced freelance writer, wrote this article. Ella specializes in writing useful and informative finance advice to others.