10 Things To Do Differently With Your Money This Year!

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You want to eliminate something that you did in the past because obviously if you are here you want to improve something in your life this year.  Maybe, you want to improve your finances. Let’s load your mind with 10 things to do differently this year with your money. 

Download for free the budget calendar to you this year!

1. Build up your emergency fund

If you had to use your emergency fund in previously, be sure that you replenish it this year. You will want it and need it. The economy is going to change yet again because that’s how it works. Why? Because cars are higher priced, homes are higher priced, and that is because the lack of inventory. It is the effect of supply and demand. We caused this because we were so confident when we were given money from the government and bought all these things.  Which is where you might have dipped into your emergency fund, so now we need to rebuild it.

2. Communicate with your spouse about money

This is a major way to improve your finances better this year.  When you and your spouse are on the same page for goals.  You reach them faster. You will dominate your finances. 

My husband and I have been on the same page since we have been married.  In 2018, we paid for our wedding with cash. In 2019, we saved up to have Ember.  This way we did not have any debt with hospital bills. In 2020, we decreased our income so I could stay home with Ember.  In 2021, we fully paid off our home. In 2022, we are working hard to save for a big purchase. We want to settle down but we are not sure quite where. We will figure that out as we continue to communicate. 

3. Pay off your student loans

We have all wanted the government to pay off our student loans. (I talk we, but we paid off our student loans back in 2016) The government did give us a break as they removed the interest rates for almost 2 years!  Now they are forgiving some loans. Did you apply yet? If you were paying on your student loans, this gave you a huge financial boost. You were able to move yourself to the next level.

If you have not been paying off your student loans, start now!  You will benefit from it! No one is going to be paying off our mistakes of borrowing too much money. We must remove the guilt and start chopping it off.

4. Make little moves to make success

We increased our net worth by $99,000 in 2021 not making huge moves, but making little moves each year to make our success. We finally reached a quarter of a million dollars, and I do not tell you this to discourage you.  

I tell you this to encourage you.  

Our seasons were not all rainbows.  

We had hail storms and tornados and all of it.

We lived without an income for 3 months. We moved across the country. We went from a six figure family income to below six figures. We made this success because we made little moves each year.  We started investing $50.  We started investing right when we could. We started when we were in debt. We started and continued to increase our percentage year by year.  Plus reinvesting dividends is a huge difference. We saved up cash little by little for big purchases to reduce our expenses each month. 

You can do this too! You need to start this year if you haven’t already. For the past 2 years, we have used this planner to help us stay encouraged by God’s word, daily spending, house chores, and all of life.

5. Meal Plan to keep your food budget in line

We all need to survive the inflation that we created back in 2020. How inflation works? Well we weren’t buying anything back in 2020 because we were in lock down, so then the government went ahead and put money into the economy. Well we still were not spending money because we could not leave our homes. We were saving the money and investing it. 

Now, we are all feeling the inflation of everything including food. To make your food budget hurt as much.  You really need to plan your meals out and plan it out via the sales or the front page of your ad.  These are the items where the stores are losing money on, but are bringing you into their store!  It is a perfect way to save you some money and build meals around them. 

Learn how to save money at the grocery store.

6. Budget every single month

Budgeting does not sound fun when we are in debt. Budgeting does not appeal to most people, but that is because most people are into debt up to their heads.  They are stressed over money and ruin their relationship over money. 

But when you start budgeting every single month, you tell your money where it should go.  You are competing with no one because you have a plan.  Your plan is what you design, and the idea around a budget is to make you feel in control of your money instead of out of control. 

You can control your money! 

If I know people who have gone from bankruptcy to building their wealth without debt, you can do it too and it starts with a simple budget. 

7. Follow up with your budget

This is what will prepare you for successful budgets over and over again. If you know where you are spending your money each month by looking over your bank account you will be able to do really well.  You will be able to build up your savings. You will be able to create an investment for yourself. 

Track your spending is the secret to a successful budget over and over again.

Want help budgeting and tracking your spending?  Sign up for a 1:1 coaching session.  You can choose 1 month or 3 months or 6 months.  

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8. Don’t be house broke

House prices are increasing and this is not joke too. They are going to continue to increase and there is not a housing crash that we all wish would happen like in 2008. Interest rates are going to increase in March because the government is trying to control the inflation that they created by giving us money.

When we get married, every one’s dream is a minimum of 3-bedroom 2 bath home. However, what if I told you we got married and lived tiny for 3 years and loved it! Everyone told us we would drive each other nuts, but I think it has actually made us stronger. A rich life is more than money and being house broke. 

You want to own your home so you do not have a mortgage.  Wouldn’t that be amazing? What kind of tone would you have on life? 

I know having zero rent and zero payment on our home at age 30 is amazing!! We get to choose to make $30,000 a year and volunteer our time because we do not have any bills. We have become owners of our life. All thanks to God who put a dream in my mind to live tiny and travel the world. 

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1. 5 Quick Wins
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9. Afterpay is just like a credit card but worse

I know I will pry get some hate on this, but Afterpay is worse than a credit card.  At least with a credit card you can earn points and cash back.  With Afterpay, you are putting yourself out of control because you have payments. You are holding up your money each week and each month. 

This year, do not use Afterpay.  You will have an open door to more success if you do not use Afterpay holding up your money. If this is right for you, I guarantee you are thinking ughh… I cannot believe them that they are telling me not to use Afterpay. 

You know who created Afterpay? An investor. A rich person. A person who knows how to make people spend more money and make them broke and them rich! 

10. Don’t put all your eggs in one basket 

We seen the stock market crash, because when the government gets involved with increasing interest rates people believe the stock market will crash and well it did. The boost of interest rates is going to change our economy more. It will mix up our economy. This is a reminder, to not place all of your eggs in one basket.  If you invest in Crypto, do not put all your money in it. If you invest stocks, do not put all your stocks in technology.  If you invest in bonds, do not put all your money in bonds.  You need to diversify yourself to keep you safe.  If the market does drop, do not remove your money but leave it there and ride it out.  Keep yourself some cash in banks.  Do not be cutting your finances so close by just putting them in one entire basket. 

Heal your money this year. You will do better little by little and I know if you take action on one or two of these things listed above you will improve.  You have the option to make your money better and I know that you will.  You will look beautiful when you do! 

Like if you learned something to do differently this year. 

Like if you are going to be doing one of these things this year.

Share with others to spread financial news this year.

Pin to make a difference in someone else’s finances. 

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