Whether you’re saving for a holiday, renovating your house or buying something special, it’s good to have a clear direction for where you want to be in 2017 and beyond.
With all this in mind, here are some helpful money tips to kick off the New Year on the right foot.
Know your spending.
One way to be more in control of your money is by understanding your spending.
If you know that you tend to spend more on takeaways when you’re feeling tired, or that you tend to impulse shop when you’re in a good mood, you can try to avoid these traps by understanding and identifying them.
Try writing a list of all the things that trigger you to spend unnecessarily. Once you can see these and understand what they are, you can work on changing your habits. Making small adjustments to the way you spend can make a big difference in the long term.
You can use our Track My Spending tool to make sure you know where your money is going and that you’re only spending what you’ve planned to.
Take control of your debts.
If you’re managing multiple interest rates, payment times and amounts on your debts, it could be a good idea to consolidate these into one easily managed loan. Organising your finances smarter could save you money and help you get back on track sooner.
Read more about an ASB debt consolidation loan and see if this is right for you.
ASB’s lending criteria and terms apply.
Set mini goals and make them achievable.
Lofty goals like buying a house might feel like they are impossibly large. Try splitting these into smaller targets that are achievable based on your budget and saving plan - allowing yourself a small reward each time you reach a savings milestone.
Here are some more tips on saving towards a goal.
It’s easy to lose sight of what you’re putting all your hard work towards. Keep handy visual reminders of what you’re saving for such as photos of your next holiday destination on the fridge, or the new car you’re wanting on your computer desktop.
Seeing these reminders every day will help you stay on track to succeed.