Times can be tough and most of us are feeling the pinch in the new year. The cost of living is ramping up a lot quicker than the amount we earn. And after the Christmas splurge, when the cash is flowing – but in the wrong direction – it’s time to take back control. Take charge of your money and tighten the purse strings. Here are ten ways that you can get your finances in order for the new year.

A Budget is the Key to All

I’m willing to bet that each of us has a rough idea of what we bring in and what we ship out in terms of our finances. Maybe on a weekly basis, maybe on a monthly basis. We have an idea, however vague, of our financial picture. And the first thing to address – whatever your income – is your budget. Get specifics. Get statements and go through them. Go through them thoroughly. Here and only here lies the secret to straightening up your financial situation. 

Be a Debt Go-Getter

Having big debts can be a difficult experience. But it really is better to look this one in the face and get rid of it as fast as you can. Open that envelope, make those phone calls. I promise you, you’ll feel so much freer when you get rid of your debt.

Pay Those Bills as Soon as You Get ‘Em

So here’s the thing… you’ve just got a hold on your debt. You’ve got that thing handled and it wasn’t as bad as you expected it to be. You’re doing great. 

But here’s the other thing…You don’t want to be accruing more debt as you pay off the old debt. Pay your bills as they come in so that you’re not getting overwhelmed again.

And While You’re At It…

Have a look at your utility bills, your phone bill, and your internet provider. Don’t think if this as a time-wasting task, there is potential to save serious money and this, in real terms, is an increase in income. 

Learn About Yourself

We all have different personality types so get to know yourself and the way you think. Study the way you think when you spend money or how you save; it’s a great way to know what makes you tick when it comes to finances.

Have an Emergency Fund

You want to be in a position that when an emergency pops up (because, at some point, it will) you can at least be able to dowse the problem. When the boiler busts, or your car stops working, you don’t want to be racking up payday loans or credit card interest to keep your life going. So try to build up an emergency fund for such eventualities.

Keep a Cool Head

You’ve done a lot, but you probably have a heck of lot more to go after. You can do this. If you find yourself becoming overly stressed out by the whole thing, take a day off and then get back to it.

Breath Deeply

These problems aren’t going to go away, but neither are you. You are bigger than this problem and it really is just a question of keeping your head and knowing that you are going to be just fine. So keep your mind on the future and where you want to see yourself in a year from now, and you’ll be able to have something to work towards.

Shop For Bargains

Pay close attention to your weekly food run. Shop around, compare prices, and be pleasantly surprised at the amount you can save. Savvy shopping really is one of the keys to unlocking the money that you have at your disposal. This is a key step to your future financial stability, so don’t skip this one!

Plan Your meals

Try not to waste food. Try to cook to the amount you are serving. Try to save your leftovers. There are clever savings to be made on this front. Use a bit of nous and plan your meals. These savings will help you out so much in the new year.

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It can be hard to know where to start when it comes to getting ahold of your finances, but with these ten tips, you’ll be able to get ahead in the new year. So try these out in your financial plan and let me know how things go for you this year.