Ok now, with the holidays over do  you find yourself drained of cash, energy, and motivation? You shouldn’t. In fact, feeling festive shouldn’t be reserved for just the holidays. As long as you are alive there are alot of reasons to celebrate, provided you are not the materialistic type who thrives on every SALE known in the land. 

With January offering just enough peace & quiet, use this month to organise your finances and to plan roughly your year ahead. 

Get your notebook or planner and MAP OUT YOUR YEAR with monthly highlights of important events or goals. 

Spring is just around the corner. Like the plants which are preparing to shoot off, you should be preparing yourself to spring forward too. 

SAVINGS PLAN FOR THE HOURLY RATE EARNERS

If you live in the UK, US or any other country where your earnings are calculated by the hour, you need a special savings plan to beef up your Goldman Sachs online savings account (not an endorsement). 

For your case, you may start calculating your savings at 10% of your hourly rate. This way you will see that your savings efforts move commensurate with the rate of which you earn.  Because believe it or not, if you just save what you receive after taxes every payday while you earn by the hour, you will find several reasons to splurge the cash. This is very tempting because you find yourself working hard without seeing the fruits of your labour, therefore any chance of a spending spree when you get the money is a very tempting option. 

When you’ve got your savings habits well-formed, you can increase your savings rate to 30%, or 50%, or 70%. It is not always good to live off your credit card because you can look well-off but your savings fund is screaming the life out of you. 

Work Hard, Play Hard. 

If you have more savings tips or personal finance tips, we would like to share it with our readers. Visit our CONTACT US page to send us your messages. 

Have a healthy, happy, and prosperous 2020 everyone!