Hopefully you’ve had a wonderful Christmas and a spectacular New Year’s Eve. Now that the holidays are over and the new year has begun, it’s time to work on your New Year’s Resolutions. A common goal for 2019 is to spend less money. After those expensive holidays, it’s not a surprise that we plan to start saving up in January. But how can you turn a vague wish into an actual accomplished goal?
Setting the Goal
First of all, make sure that your goal is realistic. Of course, everyone would love to have an additional $10,000 to spend by the end of 2019, but if you’re young and just starting your career, this might be too big of a step. Starting with a smaller amount makes it easier to stay motivated.
A common mistake is to set a goal that is too general. If you want to stick to your resolution, it’s best to write down a specific aim. Instead of ‘I want to try and save money this year,’ go for ‘I will save $2,000 this year’.
Furthermore, while saving money may not exactly sound like a fun thing to do, your goal suddenly gets a lot more exciting when you link it to a purpose. When you write down how much you need in order to buy that new car you’ve had on your mind for a while or to finally make that trip to Bali, cutting back on your expenses doesn’t sound so bad anymore.
Sticking to Your Resolution
You’ve set your goal, now the only thing left to do is stick to it… for 12 long months. More difficult than it seems? Cut your end result into smaller goals. Setting a new goal for every month gives you an excuse for a little celebration to look forward to, 12 times a year. Make a list of your average monthly expenses and come up with a plan to differentiate between things you really need and things you could cut back on. After all, saving $200 a month sounds easier than $2,000 a year.
Quick Extra Cash with Provident Loan Society
Unfortunately, the month were we massively plan to save money is also the time of the year that we’re generally the brokest. Lending Organization Provident Loan Society can give you just the little extra support you need to start working on your goals. Provident Loan provides instant cash in exchange for collateral. All you have to do is bring your collateral to one of the five offices throughout the different boroughs of New York City and within twenty minutes, you walk out with as much cash as you need to start the year with. Moreover, as a not-for-profit organization, Provident Loan is able to provide lower fees and lower interest rates than her for-profit competitors. Talk about an easy way to save money!
About the author
Daphne Striekwold is studying International Business & Languages in The Netherlands.