Financial Planning : Tips to Saving More Yearly

how to plan your finances for a new year to save more money

Financial Planning is the process of evaluating the capital that is required to start a business or to invest in a business and predicting its possible Return on Investment (ROI).

Importance of Financial Planning

Financial Planning helps in guaranteeing a sensible harmony among outpouring and inflow of assets with the goal that reliability is kept up.



Financial Planning guarantees that the providers of capital are effectively investing resources into ventures that are actually bringing in more money or income.

Financial Planning helps in reducing uncertainties which can be a hindrance to the growth of the company or savings. This helps in ensuring stability and profitability.

Prepared to take control of your cash in 2019?

By making a few small changes now, you can start now with a plan to get your spending and savings back on track.

From cable bills to your regular spending habits, these hints will enable you to spare more, spend less and get on the fast track to financial success!

Effective Ways to Save More Money Every Month

1. Set objectives (goals).

Setting Financial Goals to Save Money

Defining your goals is an inclination for individuals who win with cash, and it ought to wind up a penchant for you as well. Studies have shown that just by having an objective for something, it brings you closer to achieving that goal than when the goal is not properly set and laid down.

You may believe that first on our rundown should be the scandalous New Year’s goals that we’ve all turned out to be so attached with, a seemingly endless amount of time. Since New Year’s resolutions tend to flop by January 30 each year, goal setting is a much better option!

An important part of this equation is making sure your goals are S.M.A.R.T.: Specific, measurable, attainable, realistic, and time oriented.

Once you have a goal or goals in mind that include all of these attributes, chop your goal into smaller pieces, or milestones, that you can hit more easily. Once you hit each milestone, celebrate! This will help to encourage you as you move forward toward your financial goals.

Also, write down your financial goals, and put them in an obvious place so you see them often — such as on the refrigerator or next to a door you walk through frequently.

Likewise, record your monetary objectives, and place them in an undeniable place so you see them regularly —, for example, on the fridge or beside an entryway you stroll through much of the time.

2. Cut Costs by Negotiating.

Cut down costs by negotiating

Did you know that you can negotiate in any purchasing situation?

Though you might have previously thought negotiation was only for the bigger purchases such as home buying or car shopping, you can also negotiate at retail stores and online too. You can even negotiate to lower your bills!

3. Always shop sales — NEVER PAY FULL PRICE.

Seriously, the key to this advice is to make sure it’s something you really need – versus buying something just because it’s on sale.

4. Cut month to month bills.

Month to month costs can bite on us on the off chance that we aren’t watchful. And even cable expenses are no exception! With the average cable bill being about $90, cable and other monthly bills can truly add up after sometime.

saving money by planning your finances

5. Budget.

It’s hard to tell where you’re headed if you haven’t mapped out where you are! The word ‘budget’ gets a bad rap — but it’s not about depriving yourself or taking things away — it’s about adding freedom to your life. When you take control of your spending and saving, you give yourself the freedom to make certain choices when you want to make them. Bottom line: budgeting isn’t as scary or as difficult as it sounds — it’s just about making sure your money goes where you want it to go.

6. Transfer debt to a lower interest credit card.

If you have credit card debt, doing a $0 balance transfer might be a big way to save. However — you’ll want to be careful: If you don’t allow yourself enough time to pay off the card before the interest offer expires, you could be hit with even bigger interest fees than what you are paying now.

7. Slash excess spending.

Every now and then, it’s a good idea to monitor your expenses so as to see where your money is going. Once you see where your money is going, you can make adjustments where necessary. Do you really need to buy that new iPhone or Android device every time a new one comes out?

8. Be Picky When Selecting Bank Accounts

Picking the right savings account is essential in order to make sure you can save the most and earn the most while your money is being tucked aside for a rainy day.

9. Switch up your grocery routine.

There is no doubt that spending in the grocery category of your budget can vary a TON from household to household. I’ve read about people who spend anywhere from $70 to $1,500 – for just two adults.

But the good news is, even if you have trouble spending in the grocery category, this is one place where you can save a ton! It just requires a little extra time, a few sacrifices, and some practice.

2 thoughts on “Financial Planning : Tips to Saving More Yearly

  1. Thanks for this so wonderful article Victor. Good articles like this are hard to come by these days, in the face of this harsh economy I hope to save a few thousand dollars for my family and I

Leave a Reply

Your email address will not be published. Required fields are marked *