Money matters cause a lot of stress for many people. Properly arranging your finances can sometimes be quite exciting, because in general there are many factors that you actually have to take into account. Have you lost track of your finances and do you want to change that in this new year? We have listed a number of financial resolutions for you, with which you can finally regain control of your bank account.
Financial good intentions
Instead of just putting ‘save more’ on your list of New Year’s resolutions, make a whole separate list for your financial New Year’s resolutions. ‘Save more’ is actually not specific enough. To get your financial affairs in order again, we have made a list of resolutions for this year.
Of course, you don’t have to stick to this and the choice is entirely yours, but having such a list can be a good incentive.
1. Make an overview of your financial situation
It may be a bit of a job at first, but it will do you good in the end. In any case, creating a financial overview can help you gain insight into what you take in, what goes out and where you can still improve. Such an overview can also ensure that you have a lot less stress. Every month or every two weeks, sit down and complete/adjust your overview. This way you actually maintain an overview and you will not be faced with any unpleasant surprises.
2. Set savings goals
Setting goals is always motivating. Think carefully about what you really find important when it comes to saving and write down these goals. Keep it concrete and make sure your goals are achievable. So don’t set a goal of saving 10,000 euros per month (unless you can), because that is probably not really realistic. For example, create online piggy banks and divide the money you can save per month over these pots (a kind of online envelope system).
3. Emergency savings account
This may not be a fun resolution to work on, but in an emergency (literally) it can come in very handy: having an emergency savings account. Transfer a certain amount every month – high or low – to put in your emergency savings account. Washing machine broken? Oh, I can pay for that with the money I saved for it. Your dearest cat suddenly needs surgery? Oh, I happen to have some money saved for that.
Do you find it difficult to put this money aside for a purpose that does not yet exist? We understand that! We think: out of sight is out of mind, so for example you can withdraw the savings amount and hide it far away in a cupboard. Then you don’t think about it anymore and you don’t have the urge to spend it on fun things.
4. Pay off debts
Do you have debts, large or small, and do you really want to get your finances in order this year? Then it is important that you ensure that you pay off these debts. You may not be able to do that in a year, but at least start with it! Set goals here too and make any payment arrangements.
This also includes removing Afterpay apps, because honestly: this doesn’t do much good for someone in debt. Sometimes it can be useful if you haven’t received your salary yet, but spending money that you don’t actually have can be a huge pitfall…
