For those who follow the diet, fasting days helps to reduce the total calorie content for a week, a month, and so on. To do this, you need to periodically eat less than usual.
In the field of finance, this method will also work. Choose the days when you will not spend a ruble (or a ruble in excess of what is necessary if, for example, you need to pay for public transport to the other end of the city). The sacrifice is small, but in the end you will save and understand what expenses are really inevitable for you, and what you buy just out of habit.
The fasting day rule works both in finance and nutrition, only if you do not overeat on the other days and do not spend more than planned.
Or at least make a plan for their repayment. There is no getting away from some loans. It is unlikely that you will be able to save on a morning takeaway coffee to pay off a twenty-year mortgage for a year. But there are always options. For example, early payments on a loan can significantly reduce the loan term and overpayment on it. And in this case, even a few thousand a month will be important.
In particular, early repayment options are worth looking for if you pay several loans. You definitely need a plan to get rid of them as soon as possible.
Or at least pay off the debts on it. A credit card is just a tool, and how it will be used depends on you. With it, you can borrow from a bank without interest or become a debtor.
If you are not yet financially disciplined and have accumulated credit card debt, you need to get rid of it urgently. And it seems that 2022 is perfect for this.
Only overdue debt is worse than debt. If you do not pay the loan on time, you will face fines and, in case of relapses, deterioration of your credit history. Debts for housing and communal services will grow into penalties and may lead to the disconnection of some resources in the apartment.
Delays do not always occur due to lack of money or malicious intent. Sometimes you can just forget about having to pay. The problem is partially solved by setting up autopayments. In cases where this is not possible or you want to personally control each money transfer, you need to set reminders for each mandatory payment.
Paying off debts is not enough. It is important not to grow them again. Therefore, one of the best financial promises you can make to yourself is to live within your means.
However, just telling yourself not to borrow is not enough. This approach requires considerable intellectual work. You need to take into account expenses, make a budget and adjust it when food prices, utility tariffs or life circumstances change.
Most likely, you will have to give up some pleasures. But living debt—free is already a great pleasure. You don't depend on anyone, and everything you get belongs to you.
Or create it if you didn't get around to it. Absolutely everyone needs a reserve fund. He will help out if force majeure happens in your life, and will save you from having to get into credit card debt or take a micro loan if you need money urgently, but there is nowhere to take it.
Usually, the reserve fund is formed in the amount of at least three monthly earnings. You and your family will live on this money if you are cut at work or something similar happens.
However, it makes sense to increase it in order to feel safer. For example, if you get seriously ill, you can have an operation under the CHI. But sometimes you have to wait in line for a long time, and the disease develops at this time. Paid surgical intervention in this case will be vital.
So make the reserve fund a priority. Nobody has ever gotten worse from a rainy day stash, but from its absence — very much.
Surely, you have several expense items for which money is wasted . For example, you bought an annual subscription to a fitness center and showed up there three times at the beginning of the year. Or they paid for training courses and again did not find time for them. Or they connected a cellular tariff, the subscription fee of which includes 100,500 minutes of conversations, and they called someone for the last time in 2012, because there are messengers.
Throw off such ballast. This will benefit your wallet.
Such a line in the list of New Year's wishes is extremely common. But look at it from the other side — from the financial side.
If links to studies confirming harm to health do not work for you, just sit down and count how much money you spend on alcohol and cigarettes per month. And then calculate how much faster you will repay the loan if you send this amount for early repayment, or where you can go on vacation with this money. Most likely, the results will impress you.
To achieve financial well-being, you can spend less or earn more. It is clear that it is convenient and safe to go with the flow, work for years in the same place and complain about a small salary. But if nothing has changed in your career for a long time, then not only hearts, but also your wallet require changes.
So, you need to decide how you will change the situation. You can ask for a promotion in your company or move to another one. For both methods, you will need to remember your achievements and transform them into numbers in order to present yourself convincingly.
It is a good habit to put aside part of your earnings in a piggy bank every month. But by inertia, keeping savings in the same place for years is already bad.
Compare your bank's deposit terms with competitors' options, see what it offers to new customers. If something does not suit you, it may be time to change your deposit or say goodbye to a financial institution.
What would you add to this list?
