As we say goodbye to 2017 and welcome in the New Year, it is a time to reflect and improve ourselves to make 2018 the best year yet! At Caddle, we know our readers are always looking for ways to improve their finances and save some money wherever they can! Start off the New Year right, by taking control of your money and starting a financial plan for 2018. Check out some of our favourite planning tips below!
Reflect on the Past Year
The only way to move forward is to take a look at your past financial spending. Going over your expenses and areas where you may have gone over budget will help you determine where you can tighten the belt this year! It is also a good idea to look at your financial plan from 2017 (if you made one) and find out some goals you may not have accomplished—make those the top priority for 2018!
Review Your Current Cash Flow
New Year, new you! But that doesn’t always mean new cash to spend… make sure you go into 2018 with a good grasp on how much money you actually have in your pocket. The holiday season can definitely get some budget-conscious spenders off track. Ensuring you know exactly where you stand before going into 2018, will make the New Year a seamless transition budget wise!
Create a Budget
Now that you’ve gone over your past spending from 2017 and are up to date on your current cash flow situation, it is time to buckle down and create a budget for 2018. Depending on where you stand, your budget may not have to change too much from the past year. Focus on areas that are considered ‘painless spending’ as these are the easiest expenses to cut and save money from. For example, if you are prone to buying a coffee each morning, consider opting for a homemade one and save the toonie. Over time all of that extra change will add up and can be used for larger expenses!
When making a budget for yourself, it’s best to start at the basics and allocate your money accordingly based on your previous spending habits. Each month set a budget for groceries, house supplies and transportation. Include part of your budget for entertainment expenses, any personal shopping you may do and a rainy day fund. You never know what might come up so it saves to be prepared!
Don’t Stress Too Much!
The New Year comes with lots of excitement and great expectations for what is to come! Planning a budget for the year may seem like a stressful task but if you take it slow and follow our planning tips, it is sure to be a breeze! With the New Year fast approaching, don’t forget to enjoy the rest of the holiday season with your family and friends!
For all of your saving needs, take advantage of Caddle’s Cash Back Rewards and saving tips! Download our app today and visit our website!
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