Bored of being broke? It’s frustrating living payday to payday, constantly running out, catching up and robbing Peter to pay Paul. Does it feels like you’re chasing your tail with money- and are you looking to turn a new financial leaf in 2019? Here are some worthwhile resolutions to make, that will make life easier and your budget healthier.

Get out of debt

Being in debt is expensive. You never just owe the amount you borrowed, there’s interest added on top which can build and build. Many people who fall behind on their repayments can find that the original amount they borrowed ends up being double or even more over the months and years. Really make it your mission to get out of debt. Cut out all luxuries for a while and sell what you no longer need to raise funds. You could speak to a debt management company who are able to arrange reduced repayments and even frozen interest rates.

Set a budget

A budget stops you from overspending, makes you accountable and ensures that every penny is being spent wisely. You can use budgeting apps and software, spreadsheets, write things out on a calendar or just in a notepad. Either way, find a method that works for you and stick with it. Look at scaling back things like eating out, digital subscriptions and grocery costs if you want to save money.

Reduce your bills

Just the simple act of running quotes through a price comparison site can save you massively. Things like utilities and insurances are competitive, meaning companies will offer you good rates for switching to them. We all have to pay bills, it’s a sad fact of life. But you don’t need to pay over the odds.

Start a side hustle

Starting a side hustle will give you an additional source of income. Not everyone is in a position to gain a promotion or a raise in their current job, so an extra way to earn money can massively boost your budget. You could freelance, start a blog or a Youtube channel which you could monetise over time. You could start a business from home, these can be really successful even without having to hire employees. Simply outsourced as your company grows and orders pick up. For example, Cyber Shift Technologies, LLC could tackle your IT support and cloud management.

Save up

Finally, it’s always worth having savings. The only thing to bear in mind here is that if you’re in debt, it makes more sense to pay off balances first before saving up. It’s pointless having debt and savings as you’re paying interest rates. Once you’re debt free, start a savings plan to give you a buffer in case things go wrong. It could be anything from an unexpected bill, broken appliance or car repairs. Having access to cash can prevent you from falling into debt and make a stressful situation much easier.

What financial resolutions will you be making for 2019?