Money habits to cultivate before the year runs out
Here are 7 money habits you can start before 2017 runs out.
These money habits will help your finance positively in the new year, which is why you need to start now to prepare your mind for the year 2018.
1.Set one major financial goal
You should try to set at least a major goal financially which you plan to achieve in the new year. It could be a short-term financial goal or a long-term financial goal.
Setting a financial goal before the year runs out will be a great step towards financial progress in the new year 2018.
2. Create a budget
Though it is less than two weeks for the year 2017 to end, you can still create a budget for the two weeks left in the years to help you manage and control your spending.
Having a budget has a way of making you get better with your money and saving habits.
3. Keep track of your net worth
Before the year ends you should find time to keep track of and know what your net worth is.
Your net worth is the addition of all your assets excluding your liabilities.
It is very important to know your net worth because it helps you look forward to a greater financial picture.
It would be a good idea if you can check your net worth before the year runs out, to prepare you for a better financial year
4. Take note of your spending
You need to start taking note of how you spend money. This is a good way to gradually quit from your bad money habits and lifestyle.
You can get a small notepad where you jot down all your spending after a whole day, just to know how much you have spent and how you can improve your spending.
5. Get organized
You need to cultivate the habit of getting organized. It might be difficult to handle your finances if you are not organized.
Before the start of the day, take at least 30 minutes each morning to get organized. Use that period to sort out bills, receipt and other money and financial related issues.
You should make it a habit to save at least ten percent out of your monthly income. This is a good money habit you should have before the year ends.
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It would definitely prepare your mind towards saving more, which is good for your finance.
7. Read more about finance
You can’t just assume to know it all when it comes to money and finance. You should make it a habit to read and research more on financial matters.
This helps to develop and sharpen your financial skills better, making you have better money habits.
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