As we get closer to 2019, the idea of resolutions starts coming to mind.
It’s a great time to take an honest look at how you handle your money. HawaiiUSA Federal Credit Union shares tips on taking control of your finances in the new year.
If your 2019 New Year’s resolution is to lose weight, pair up your plans to exercise with meal prepping to save money, time, and calories.
Nothing is going to replace staying consistent with an appropriate exercise and diet regimen.
But what can work very well in support of the physical and mental determination necessary to accomplish your weight loss goals is meal prepping.
Meal prepping is when you prepare and package some, if not all, of your meals and snacks for the week in advance.
And by taking care of all your meals early, you’ll be able to be sure that the food you’re eating not only adheres to your diet, but also saves you significant money because you’re no longer needing to buy lunch or snacks throughout the day.
And shopping bulk can have its own substantial savings on your grocery bill compared to buying a smaller amount in more frequent intervals.
Just make sure you have space to store/freeze bulk groceries appropriately to avoid waste.
You can also consider purchasing your bulk groceries with family and friends and split them amongst you for even greater savings.
Making the resolution to travel more or maybe even finally visiting that place on your is such a fun plan to work towards.
And there’s no time like now to start checking travel destinations off your bucket list.
But before jumping head first into things, you need to start by making a travel budget.
Do research into how much you’d need to spend for things like airfare, accommodations, transportation, food, etc.
A great way to get an honest assessment on those things would be to ask any friends or family who’ve previously gone for suggestions.
They would probably have a good idea of the types of things you’d want to do, which might give you a better estimate of how much you’d need to budget.
Once you have an idea on the type of financial commitment necessary for your travel adventure, a great way to start safely and securely putting money away is to open a special savings account designated for your trip.
Another great idea to partner with that is to enroll in an automatic deposit distribution from every pay period that would directly go into the account because sometimes life gets just too busy and things can slip our mind.
Just be sure that the amount you’re allocating still allows you to cover your regular monthly expenses.
If it does, congratulations because before you know it, you’ll have the funds saved to begin booking your trip.
Another resolution that’s on a lot of peoples 2019 goals is to save more money.
When we talk about having a savings plan, we always end up going back to budgeting.
And that means either creating a budget for those who don’t have one or trying to better stick to the one you have.
At the very core of budgeting, it’s that making sure what you bring in is more than the amount that you need to spend every month.
But perhaps the issue stems from being able to stay on top of things.
That’s why a great tip for those who are looking to stay truer to their budget and kick start their savings this upcoming year would be to start using a budget/personal finance tracker.
Although the tried and true traditional spreadsheet method still holds up, smart devices and mobile apps have made this so much simpler and more convenient.
For example, at HawaiiUSA Federal Credit Union they have a great tool that their members love called My-Fi.
My-Fi is a personal financial tracker that will help you to manage your finances, build budgets, track expenses, and set financial goals all in one convenient location.
For those who might be having a bit of a hard time with credit card bills, consider transferring your high interest rate balances to a new, lower interest credit card by taking advantage of a balance transfer.
Or maybe it’s a personal loan to help consolidate the monthly obligations.
At HawaiiUSA, being able to help our members get out of that cycle of debt and help them afford manageable monthly payments is one of the many reasons we’re still going strong more than 80 years since our start.