2019 is coming and surely just like many others you have New Year Resolutions on saving money (and not overspending).

🆘 Warning: More than half of the New Year resolutions fail, but this time, they don’t have to be yours! So be careful before choosing your resolution. It is always vital fulfilling what you resolute. If you are going for New Year resolutions on saving money or budget, then below are some useful recommendations to follow.

1. Share out unexpected income

When you have a bonanza—gift, a bonus, or cash for extra work—one should always go for the rule of thirds to use that cash.

🔻 Save one-third of the total cash for the past—means to pay down debt and free your life.

🔻 Moreover, save one third for the future, means to save money for investment.

🔻 And one third for your present, you can spend on yourself and get new things for the home.

If one follows this rule, then it is guaranteed that he will never feel deprived.

Rule on unexpected income

2.Keep slush money handy

You never know when an unwanted activity can demand a considerable amount from you. Like an emergency root canal, car repair, and much more. You always need to have the separate cash for it so that it can never throw you off your ↗ monthly budget. To keep everything under control, you need to have an emergency stack in your account.

The best way to know how much would be enough is to ↗ track your monthly spending and multiply it by 3. Well, that 3-month operating budget is a very much scary number. But this is the minimum you should have in your hand for emergency situations.

3.Ditch ATM card

It’s common! We always make whim purchases, from cookies at a supermarket to that new Van Halen-bluegrass CD. But the question is: How can we stop our bank account being flowed away? It’s simple! Just ditch your ATM Card. Nowadays it is too easy to withdraw cash from ATM and spend as much as you want without thinking of what will be next after spending all. After that, analyze how much you need each week for regular use.

When you get the finite amount in hand, you will think twice before unpremeditated spending binges.

use cash to avoid overspending

4.Time to put yourself on payroll

Once every month there comes a time when we all have piles of bills in hand. These bills force us to start writing out all checks. That’s a good gesture, but this time, you need to write one for yourself. Every month separate a set of amount aside for investment. The best way to do so is to write a note to yourself to deposit a check and send it to your other account. This will ensure you that you are saving you for future.

👉 Related: Personal Finance Management Tips for Young Adults in 2019

5.Make a note and stick to it

Handling your tight budgets is the first step to accomplish your New Year resolutions for saving money. Here are simple steps you need to keep in mind.

✅ Don’t try to ↗ control your budget in one sitting. Take some time, break down it and manage pieces.

✅ Gather the required information of your income, like salaries, bonuses, interest, etc.

✅ List down your expense information. Don’t miss anything.

✅ Write down totals of all your income and outflow.

✅ Check for the portions where you can do fine-tuning and adjust it.

These are some of the ways which can help you to fulfil your New Year 2019 resolution to save money.

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