Getting your financial situation on track is on most people's 2020 New Years' Resolution

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BURLINGTON, Ontario - eTradeWire -- 2020 is a New Year and can signify a fresh start for many and one popular resolution is to instill the right habits to save money.

Some of the top financial new year's resolutions according to CNBC include:

• Saving more and budgeting
• Improving credit score
• Paying off credit cards on time

If you're thinking about tackling one of these important financial goals, don't fret, you're not alone. Here are some strategies that may be able to help you save money and start paving your path towards financial freedom:

• Practice paying yourself first - Better money management will start with knowing you, your goals, and your retirement come first. Being disciplined to save a portion of your income with every paycheck to go towards yourself will help set yourself up for success.

• Tracking what you spend and paying off debt - Remembering what you spend and paying off your current debt should be a top priority as interest will accrue. Tracking your spending and noting where there are areas to start saving (like on your insurance ( will help you pay debt in a scheduled and efficient matter. Whether it be a car loan, student loans, or any outstanding payments, it's best to try to pay off as soon as possible.

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• Kakeibo is a Japanese art of saving your money. "Kakeibo" can help change how you spend by journaling, letting go of the things you don't need, and being more mindful about how you spend. The physical action of writing down whether or not you can live without this item and analyzing your emotional state can help in the process of letting go of what you don't need. More details can be found in this article by CNBC (

• Taking a walk - taking a walk away from the shopping mall store window or wherever it is you were hoping to buy something can help you reflect on your purchasing habits. Being more mindful can help with decision making so you have a clearer vision of things to spend on.

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Source: Surex
Filed Under: Insurance

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