Live healthier. Do more exercise. Save more money. Any of these sound familiar? That last one definitely should.

It’s a new year and we are all looking for ways to do better than we did the year before – especially with the debt hangover from December still lingering! And, if the lack of funds entering 2019 has you determined to curb your spending; you’re not alone. A recent study shows that 94% of millennials plan on making financial resolutions during 2019.

Let’s face it, South Africa has had a volatile 2018; we had to face multiple fuel increases, a VAT hike and repeated adjustments to the country’s growth forecast. But for cash-strapped consumers, the new year brings an opportunity to reflect on their spending habits and get financially fit.

Remember, no matter where you are on your financial journey, it is possible to turn it around. Sometimes all it takes is that first step in the right direction to get things moving in your favour.

So, whether you want to be a millionaire (so freakin’ bad!) or simply want to stop spending your pay check before it’s in your account; it’s all about implementing a plan and taking action.

Are you ready to take charge of your finances in 2019? We have a few pointers on where to start:

Find every day savings. It’s usually the small things that cost you. So, skip the latte. Yep, brew your own coffee and take a packed lunch to work. Also, say “cheers” the smart way. Pay cash for drinks and spend only the allocated amount for the night. Cancel memberships you don’t use. Haven’t been to the gym since 2016? Sign a debit order for the same amount into a savings account – you’re already used to living without that amount anyway. Cut on DSTV. Gasp! Do you really need 300 channels? Look at different bundles.

Create a budget and stick to it. Simply by keeping track of where your money is going will make you more aware of your spending habits.

Consider carpooling to save on transport costs.

Implement the 30-day rule. If you’re on the fence about a purchase, wait for 30 days. When a month has passed, you’ll have a better perspective on whether the purchase is truly worth the money.

Pick a bank that gives back. Seek out perks like no ATM fees.

Switching to cash for your daily expenses will make you more aware of what you’re spending.

Enquire about a tax-free savings account. It allows you to save up to R33 000 per year and grow your savings without paying tax on any of the growth your money earns. Great, right?

Stop collecting and start selling. Live a simpler, uncomplicated life.

Pay back the money. Create a debt strategy that will help you repay your debt quicker to save significant amounts in repayments over time. Prioritise your debt repayments, putting the most expensive interest rates first (usually the short-term debt on credit cards) followed by debts with lower interest rates, such as the debt on cars and homes.

Price-check your short-term insurance. Compare quotes from different providers.

Be content with saying “no” sometimes. Constantly saying “yes” will result in spending more money.

True, none of these tactics will be life-changing on their own, but they can make quite a difference over time if you are able to implement more than one.

Let’s make saving money a priority this year!

Source: www.thebalance.com, chasingabetterlife.com, www.cnbcnews.com, www.fin24.com, www.oldmutual.co.za, hip2save.com, www.mydomaine.com, www.1life.co.za, www.thesimpledollar.com, www.moneyweb.co.za, www.chimebank.com, www.oprah.com, www.bettermoneyhabits.com, www.cnbc.com, www.regions.com, greatest.com, www.cosmopolitan.co.uk, glamour.co.za, www.discountvouchers.co.za, money.usnews.com