With the new year comes the obligation that we all feel to set and achieve a New Year’s resolution. A lot of resolutions involve saving more money, and Janet Alvarez is here to tell you how this is possible. She is the Executive Editor of Wise Bread, and she visits Bold TV to offer advice for people who are making it their goal to ring in the new year with more cash in their pockets.
Alvarez begins with stressing that you should not bite off more than you can chew. Money stresses out everyone, so don’t let an overwhelming goal add to this stress. Set small, specific goals, and eventually, the bigger picture will come along with it. Some goals she highlights are joining Uber rewards and other programs that allow you to get cashback on things that you already do. It’s important to remain realistic about your financial situation and leaving the fewest things possible up to chance. For this, Alvarez suggests that you should make it your goal to take advantage of automation. Automating your money takes the guesswork out of investing and saving your money.
Everyone’s money issues can be broken down into spending too much and not making enough. A majority of people have an issue with both, which is why it’s important to find strategies to deal with your situation. If you are spending too much money, Alvarez explains that you don’t need to limit all of your spendings, just stop spending on things that are not extremely important to your everyday life. On the other hand, if you aren’t getting a raise at work, then you need to figure out why. And if there is not a good reason, nor is there an opportunity to rise up in the company, then it is necessary that you look for other positions in the field or pick up a side gig.