0:07
Many people's New Year's resolution involves saving more money, but normally they don't know where to begin
0:13
Having heaps of debt and living paycheck by paycheck can make it hard to stack some cash away
0:19
But that's where we come in. With a few simple lifestyle changes
0:23
we can help you stick to a healthy budget and reach your financial goals
0:27
So, let's dive right in. 1. Create a budget The first step to saving money is to make a budget
0:34
List all your expenses for each month and determine where you can cut back
0:39
Using a budgeting app like Mint or a spreadsheet can help you identify key spending areas
0:44
and will ensure you stick to your set budget. 2. Pay off your debt
0:49
The second step is to plan how you are going to pay off any debt
0:53
Start with any loans that have a high interest rate and then determine what amount you can allocate towards monthly payments
0:59
The sooner you pay off the debt, the faster you can start saving money for other necessities
1:04
3. Use credit cards carefully If you're going to use a credit card, you need to use it wisely
1:12
Use it to build up your credit rating, but make sure you pay off the minimum payment
1:16
or total amount each month to avoid interest fees. Don't use cash you don't have to buy things that you don't need
1:23
4. Start saving Do you always tell yourself that you'll start saving once you get a bit more money
1:29
Well, stop making excuses and start saving now. Even if it's $10 a week, save it
1:36
You'll be on the road to good financial planning. 5. Review your subscriptions
1:42
Without realizing it, we can end up wasting a lot of money on subscriptions
1:47
Whether it's a beauty box that we don't really use or a magazine that we don't read
1:51
there are ways to cut down spending by reducing your subscriptions. 6. Invest your money
1:58
Forget stocks and shares that come with the risk of losing you money, too
2:02
Instead, focus on savings accounts, insurance schemes, and real estate as ways to invest your money
2:08
and watch it bring back a better return on investment. 7. Control impulse buying
2:15
Impulse buying is probably the largest money waster. You see something, you like it, you buy it and then forget it even existed
2:23
or decide that you don't actually like it a month later. Instead of impulse buying, give yourself a week or two to think about purchases
2:31
If you then decide that you really like it and will get good use out of your product
2:35
then you can buy it. So, there you have it. A few basic tips to help get your finances on the right track
2:42
and start saving instead of spending. That said, if you're looking for further tips, head over to CareerAddict.com
2:49
Unsure of which career path to follow? Why not take our career test to find out
2:53
At Career Hunter, we use a cutting-edge algorithm to assess your interests
2:57
motivations and abilities to match you to suitable careers. Use the link in the description below to try the career interests test for free
3:05
And don't forget to like the video and click on the subscribe button to get updates on our new videos
