As we near the end of 2018, it’s time to turn our gaze forward and start to consider the year ahead. What goals do you want to achieve in 2019? What habits do you want to change? How do you want to improve?
This is a sponsored post written by me on behalf of Navy Federal Credit Union. All opinions are 100% mine.
There are lots of areas in life to focus on, but when I sit down to make a plan for the year ahead, one area I always try to focus on is my budget. How will I manage my money next year? How will I make smarter spending decisions? How do my savings accounts look? Saving money is always a priority, and as I gear up for 2019, I’ve started to consider some ways that I can save more in the new year.
Today, I’d like to share some smart tips in collaboration with Navy Federal Credit Union, I’ve found that will help you save money in 2019:
Understand Your Current Spend.
When was the last time you sat down and analyzed your bank statements? If it’s been more than a month, it’s time to sit down and scan your transactions. It’s important to know where your money is going, and it can be all too easy to forget about monthly subscriptions or realize how quickly all those fast-food lunches are adding up.
REVIEW YOUR SAVINGS ACCOUNTS
If you have a savings account – or multiple accounts with cash stored away – you should give them a quick review to make sure you’re in the best position possible. If you’re keeping thousands of dollars in savings in an account with a 0.1% interest rate, see if you can find accounts with better rates that offer a higher return on your money.
And if you don’t already have a savings account? Sit down with a banker and determine how much you can commit to saving each month – then open an account with a bank like Navy Federal Credit Union and watch your nest egg grow!
Reduce Your Rates.
One of the easiest ways you can save money – now, and in 2019 – is to see where you can reduce your recurring costs. If you’re working to pay down a balance on a credit card, give the provider a call and see if they can lower your interest rate by a few percentage points.
Spending a ton each month on cable? Call up Comcast and see if they have any discounts or packages that might score you a better deal. From your auto insurance to your cell phone bill, there are plenty of opportunities to cut back costs – and you’ll quickly see how a lot of little savings can add up fast!
Make a Plan – And Stick to It.
It may sound silly to some, but there’s something powerful about writing down your budget and your financial goals. By bringing them out of your mind and into the world, you’ve made them real, and you’ll be much more likely to follow the guidelines you set for yourself when you can quickly review them in moments of weakness. Track your budget on a spreadsheet or in an app, and write down your goals in a notebook, on a whiteboard, or somewhere you’ll be forced to revisit them often.
See all the ways you could earn and save with Navy Federal Credit Union, and become a member.