One of my priorities this year or main goal is to have zero debt by the end of this year. Having debt could cause a lot of stress in our lives. For some of you, this is just something that was out of you control, but there people like me, who can improve their financial situations by making some adjustments in your lifestyle.
Compared to last year I feel that I’ve improved my finances. I’ve reduced my debt by 50% but there is still work that needs to be done.
I’ve come to the conclusion that I need to be more strict when it comes to the things I consider “small expenses” which are what really makes me still get in trouble.
My goals this year to improve my finances will be:
- spend less eating out: I’ve been eating out at least once a week or sometimes I don’t bring lunch and I ended up many times spending an average of $12 for meals I don’t even end up enjoying.
- learn more about budgeting: I was recommended books by Suze Orman and I will also read more blogs about finances
- use my tax return to pay any outstanding debt
- start an emergency fund: which with all the things that have been happening to me (car breaking down, getting sick) I’m very embarrassed to even write about this but I hope this could help others to not make same mistakes and that it’s never too late to get your finances together.
Money Saving Challenge Guide for 2018 by Earnest.com
I have many goals in my life that required me to have a certain amount of money saved and the only way I will be able to do this is by spending less of what I make and start the habit of saving money, to be able to do this it’s very important to see where you are spending your money or where most of your expenses go.
Right now I’ve noticed that some of my expenses go into eating out or buying coffee at Starbucks. I know some of you might still be paying your loans and this doesn’t allow you to put more money towards your dreams, but there are things you can do such as consolidating debt with a personal loan or refinancing your student loans.
I hope this Money Savings Guide can be useful to you. It’s still the beginning of 2018. If you set up your financial goals and audit your expenses you will start your year right and you will set a foundation for the rest of you life.
Thanks for reading!😘
Until my next post,