Holiday spending and end-of-year expenses can throw anyone’s finances out of whack. That’s probably why saving more is such a popular New Year’s resolution.
But you don’t have to wait until 2019 to take control of your finances. Here are 15 things you can start doing before the end of the year to save more money and develop better money habits today.
Set One Major Savings Goal
It’s easier to save when you have an end goal in mind. Whether you want to save money for a car, vacation or down payment on a house by the end of next year, figure out what your priority is and how much you will need to save.
To achieve this goal, start small. “Break that goal into smaller more manageable goals, and actually put them in a calendar to set deadlines,” said Ryan Inman, a fee-only financial planner for physicians at Physician Wealth Services. For example, if you want to save $12,000 for a down payment, break that down to $1,000 per month. Not only will this keep you accountable, but it will also help you achieve a bigger goal over time that you might otherwise have been reluctant to tackle, he said.