Making Financial Freedom an Attainable Resolution for 2019

Start The Year Out With Some
Financial Goals You Can Attain

Making Financial Freedom an Attainable Resolution for 2019
2018 is wrapping up to a close. As the holidays come and go and the new year hits,
you’ll be looking back as well as looking forward to what 2019 brings.

Looking back now, how do you feel you did financially? If your answer is anything but positive, it’s time to make some changes. Not only can you make a new year’s resolution to start being more financially responsible in 2019, but you can even start formulating a plan on how to do it.

Start Learning a Budgeting Method

One of the most fundamental aspects of getting personal finances under control is budgeting. There are many tools to learn how to do it as well as different ways to budget, though most financial experts like Dave Ramsey recommend using zero-based budgeting which is where you start by seeing how you can cut your expenses to where the total income and expenses are matching zero. It can be a little tricky to learn this if you’re not a math whiz or have never been good with numbers, but you might look around and seek help from people who have done budgeting before. The bottom line is knowing where all your money is currently going and knowing what you need to do so that you’ll be living above debt in the future. 

Eliminate Debt First

Once you’ve got the budget ready and the change is being set in motion, it’s time to pay off your debts first. First, you need to see what kind of debt you have, and then start making plans to devote payments to cutting it down and away. If it’s credit card debt or easy personal loans you’ve accumulated over time, start making plans to pay off more of your outstanding balance and figure out how to get it down to zero. If it’s another loan or bills that you’ve fallen behind on and need to catch up with, work out a plan with your creditors if you need to so that you can pay in smaller installments but still get it paid quickly. In the meantime, you just might need to cut your cable television off, eat out less, buy cheaper food, and sell off other assets until you can get your debt paid off. You don’t have to live like that forever, but temporarily taking measures like that can get you back to living more frugally and having more income to pay off debt with.

Make a Savings and Investment Plan

Once you get your debt under control and have more money to spend, a portion of that money should go into savings or investments. What you can do as part of your budgeting plan is to start saving more money by dedicating a portion of each paycheck to go into a savings account, where it can be held either for emergency needs or for something you want to buy for your family down the road. If you not only want to save but have money that generates more money over time, you should open an investment account. Usually, people open these accounts to have money ready for retirement, but you could also have money ready for goals you’re setting in the next few years by doing this. It’s perfectly fine to manage your investment accounts, but you may want to solicit advice from a former professional who has done it if you’re new to it.

With a new year on the way, it’s time to have a new approach to your personal finances. There’s no reason why you can’t make 2019 the year you finally attain a greater level of financial freedom.

This post contains affiliate links, which means I might receive a small commission if
you make a purchase using an affiliate link.

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Live A Limitless Life on a Limited Budget

No matter how much money we have, there is always that little extra we need for paying down a debt installment or for buying a new car or financing tuition fee for our children.

But, in order for us to be able to cover all the extra expenses that might arise on an everyday basis, we don’t always need a new job – sometimes we need to learn how to manage the funds we already havelearn how to manage the funds we already have

Sometimes, following simple habits and slightly changing our consumerist mindset is all that we need. We need to learn how to allocate money that we have more efficiently and need to familiarize ourselves with the most common pitfalls of money management.

Whether you’re buying new clothes for your teenage kids or you’re taking them out for a dinner, you should always be able to find ways on how to save a buck or two.

Sticking with pre-made lists of what’s needed to buy and what’s not as well as allocating certain amount of your budget to your children as a clothing allowance would be a good start.

In this article, we will bring to your attention some of the neatest budgeting tricks that will get your family budget growing in no time.

Fix the Budget Leaks

Every budget has its leakage. Overspending on certain types of things is common for families, especially if you’re earning more than you actually need to get by.

However, all those little expenses account for a big sum when you add them all up. If you put pen to paper and write down all there is, you will be surprised by the amount of money you are throwing away just not paying attention every day.

If you’re planning a vacation with your family, keep in mind that you should take all options into consideration Think about the ways to save money by booking in early season so you won’t have to pay double during the high holiday season. That way you can still find good accommodation,  and stay on top of your budget! If you are a mountain lover, with Lantern Thredbo Apartments you can choose from a variety of premium accommodation options in both the Thredbo Alpine Village and the Snowy Mountains. You just have to search for options and your vacation doesn’t need to cost a fortune!

Prioritizing your buying and making lists can always help in this situation. We already mentioned the necessity of organizing your spendings by making lists prior you actually go shopping. For instance, paying visit to the supermarket or a grocery store can eat up contents of your wallet if you are prone to impulsive shopping.

Do you really need everything you buy every time you go to the supermarket? Certainly not!

Restraining from being impulsive when it comes to shopping or booking and sticking to pre-made lists of the things you really need is of utmost importance here.

Of course, it doesn’t mean that you can’t treat yourself with something nice from time to time, just make sure not to make a regular habit out of it.

Digging Even Deeper Into Family Expenses

Furthermore, go through your monthly expenses in search of some more pain points that are devastating your budget. You’ll probably find out that you’re paying for some services you are not even using anymore.

For instance, do you really need to pay for your Netflix if you don’t have time for yourself and you don’t practice movie nights with your family anymore? How many services you subscribed for on a monthly basis that are charging you on a recurrent basis? Make sure to go through all of them and to cancel all of those unnecessary subscriptions. Try to find budgeting options and make sure you keep an eye on those finances!

Perhaps you’ve come to that point when you should start cleaning out your closet for good. And we mean in real terms. What’s the use of keeping stuff around the house if you don’t intend to use them anymore?

Consider organizing a garage sale on weekends or listing your stuff for sale online. You’ll get some money out of it, plus you’ll definitely free up some living space for you and your family.

Last but not the least, if you owe some money to the bank (and lots of us are) you should seriously think of consolidating or even refinancing a loan.

There are many things you can do when it comes to this matter and, luckily enough, there are lots of articles online that can help you out with money management.

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Make Money Selling Your Jewelry You Dont Wear Anymore

Several people purchase jewelry items online on a daily basis. This has led to selling and buying jewelry online evolving into a popular business that can be extremely lucrative. Considering these factors, however, a high level of competition is inevitable. With a few thoughtful tips in mind, you can ensure that you are on the right track when you want to sell your jewelry. Make-Money-Selling-Your-Jewelry-You-Dont-Wear-Anymore

Where and How to Sell Jewelry

If your box of jewelry now contains a tangle of pieces that you no longer wear, you have the chance to change those items into a kitchen remodel, a vacation, a car payment or anything else that you may value.

Getting the most out of your jewelry involves knowing what it is worth and the best places to sell it. It also depends on how much effort you are willing to make towards actually selling your jewelry. It is a balance of what you may recover from selling your jewelry and the value of your time.

What is the Jewelry worth?

In order for you to be truly aware of the value of what you want to sell, it is important to get an appraisal from appraisers who are committed to adhering to the ethics and standards of their work.

  • Appraisals vary in terms of how long they take and cost if you are expected to pay for them. For example, while a ring with numerous diamonds and an intricate setting may take a number of hours, a simpler diamond ring may be appraised within an hour.
  • An appraiser who charges for the service will typically base the charges on time rather than a percentage of the piece’s value.
  • Skipping an appraisal is not advisable even if you think that your jewelry is not worth a lot. Going ahead and seeking offers from a Los Angeles Jewelry Buyer for something that you think is not valuable can be risky. It is common for people to mistake costume pieces for fine ones and vice versa, which can lead to extensive implications.
  • Appraisers have the ability to let you know whether your jewelry is headed for the scrap heap or should be sold. Some of the jewelry that is created by well-established designers has a higher value when it is intact.

Resale Prices

After getting an appraisal, it is important to note that you may not always be able to get that exact price. Appraisals are usually conducted on the basis of insurance in order to determine the cost of replacing your jewelry rather than the resale price. Find out whether the appraiser can also provide a presale estimate.

  • With gold, for example, the appraiser may give you the melt price of the jewelry. This usually refers to the value of the precious metal that it contains. Since buyers need to consider their profit margins and how much it will cost to extract the gold, you may not get this price.
  • Getting a substantial percentage of the gold’s melt value, in this case, is regarded as a fair deal.
  • Just like with any other items, you should be cautious when selling jewelry online. It is important to shop around for offers and check the reputations of online jewelry buyers.

This post contains affiliate links, which means I might receive a small commission if you make a purchase using an affiliate link.

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Unexpected Financial Setbacks

Many of us operate on some sort of budget, or at least try to do so. The amount of effort varies tremendously from household to household. One survey found that 82 percent of Americans said they budget, but about a third of those just write it out on paper. Roughly 20 percent of people use mental accounting, and don’t write down anything at all. It’s better than nothing, but it’s still not as good as it could be. Budgeting as precisely as possible makes it more likely that you can handle a sudden financial emergency. However, wages remaining stagnant makes it harder for many people to have much of a rainy-day fund. The combination of factors means that we have to look elsewhere when we suddenly need $500, $1,000, or more. How-to-handle-unexpected-financial-setbacks

Medical expenses

A sudden medical incident can be incredibly frightening. No one wants to get into a car accident, or have an asthma attack so severe that it requires us to call an ambulance. When we’re in the middle of a medical emergency, we have to worry about treatment first and payment later. Sometimes, the payment is much more than expected, especially if insurance won’t cover the full amount, or if the medical office coded a procedure incorrectly. It stinks to think about all this when you’re in pain; however, you can always go to an emergency room if there’s no other option. Heart attacks, strokes, and major accidents all require major and immediate medical intervention. If your life is in danger, or you even think it might be, head to a hospital.

What if you sprain an ankle or develop a case of the flu? In that case, you have a bit more time, and a few more options. Head to an immediate care center, similar to the one in Staten Island, New York, rather than to a hospital emergency room. They’ll be able to examine you and give you the treatment you need, at a better price than you’d get at a hospital. Those emergency room co-payments are nothing minor, unfortunately, so it’s best to avoid them, unless you have no other option.

It’s possible that you could go to a walk-in clinic, and be told that your issue is something that requires you to go to an ER, anyway. In that case, at least you can say you tried. If all else fails, ask about paying in installments. Most hospitals and doctor’s offices offer interest-free payment plans, if you ask them.

Loans and credit
Credit cards and loans are sometimes necessary. However, they should be used as judiciously as possible. They’re a good option for building up credit, since a good credit score helps you buy things like houses and cars. However, what if you have an unexpected, one-time expense and bad credit? Cases like that are tough, because you don’t have years to build up a good credit score. You need a way to pay off a balance within the next few days, or, if you’re lucky, the next few weeks. Do some research on bad credit loans, and see if they make sense for your situation. Make sure to read the terms and conditions very carefully, so you don’t get any unpleasant surprises when you repay the loan. It’s vital to know exactly what you’re getting into, before you sign on the dotted line. A short-term loan is only useful if it doesn’t turn into a long-term problem.
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