5 New Years Resolutions That Will Make You Richer In 2018
I don’t know about you guys, but I don’t think there’s a New Years Resolution I’ve ever kept. To best honest, most of them are wildly unrealistic goals like ‘I’m not going to eat any junk food’ or ‘I will stop spending all of my time looking at dogs online’.
One thing that is totally tangible and within your control is your spending habits. How good would it be to say, ‘this time next year I am going to have x amount in my savings account’ and actually go through with it? It doesn’t have to be a dream either – it’s totally doable.
Wanna be richer in 2018? Here’s how.
#1 Make a budget
Put simply, a lot of us underestimate how much we actually spend. We tend to play down our real cost of living to make ourselves feel better or simply forget all the small things, which quickly add up.
If you want to save money, budgeting is inevitable. This is all well and good, but only works if you know how to do it correctly.
It starts with a trip down good ol’ memory lane (your transaction history). Check out what you’ve been spending your money on and see what you can axe to construct a more realistic spending goal.
We believe in you – check out our tips on budgeting.
#2 Get a side hustle
A sure-fire way of making more money in 2018 is to gain some extra income by scoring yourself a side hustle. A side hustle is a way to make some of that extra dosh and allows you flexibility to pursue what you’re most interested in.
It could be something you’re super passionate about – a chance to explore travel, fashion, writing, illustration, whatever. It’s a way to do what it is you’re interested in without having to quit your day job.
Just don’t burn yourself out guys. If you’re already working the nine-to-five and considering working a bar at nights and weekends, contemplate what that might do to your body and look after yourself first.
If you’re keen on a side hustle or setting up a second income, see our tips.
#3 Ask for a raise
How much are you worth? No, seriously, ask yourself the question. If you’ve been in your job for a while and reckon you could do with a pay increase, you should ask for one!
What better time than going into the New Year? Just remember that if you are planning on bursting into your boss’s office and demanding an extra zero added to your salary, you’ll have to prepare your case.
If you can’t list any reasons as to why you deserve one, chances are you won’t be taken seriously.
Luckily your good mates at The Cusp have come through with the goods once more – check out our tips on asking your boss for a raise.
#4 Reassess your life choices
Heavy, but listen up. If you really want to play out your ‘new year, new me’ feel, do so by knocking bad habits on the head, for good.
Think of this as a detox for both you and your bank account. You know those habits you have that aren’t the most beneficial when it comes to your bank balance? We all have them. From withdrawing that extra $20 from the bar ATM to buying your lunch too many times during the week – everything adds up.
Even if it’s an unhealthy habit – boot it. Smoking, binge drinking and excess junk food are all choice examples of things to give the flick coming in to 2018. We all know they’re horrible for your body and bank account so, let’s do something about it.
A good way to hold yourself accountable for this stuff is to write it all down. If it’s on paper, in a word doc or just in notes on your phone there’s less chance of forgetting it!
#5 Think about the future
Why just focus on 2018 – why not think further ahead? Voluntary super contributions are a way to ensure sustainable income well into the future.
Currently, your employer is putting away the equivalent 9.5% your salary into your superannuation account, but voluntary contributions do exist for those of you wishing to boost your retirement income.
Future you will thank you for it.
There you go guys. We wish you a happy hols and a cashed up New Year.
Bradley is a writer from Newcastle who enjoys travel, Tina Fey and is a connoisseur of cheap red wine.