9 Ways to Overhaul Your Finances This Year ...


If you're looking for ways to overhaul your finances this year then these tips are sure to help. After the excess of the past couple of months, many of us are looking at our bank balance in despair. Fear not as there are some ways to ensure that you can make some changes to your financial state and sleep a little better at night.

Thanks for sharing your thoughts!

Please subscribe for your personalized newsletter:


Creat a Wish List

One of the first things to do if you're in a financial rut and in need of an overhaul is to create a wish list and allow yourself the pleasure of dreaming about your goals. What is it that you really want? Is it to retire early? Would you like to set up a business? Maybe you would like to travel the world? Write down your goals and put them where you can see them every day. This will keep you motivated and focused on your financial dreams.


Change Your Mindset

Many of us have deeply entrenched ideas about money and finances. These can stem from past experiences but despite these deep seated ideas, you can change your mind-set. For example, one thing I do when I want to buy a new item of clothing is think about how much wear I will get out of it. If I know I will only wear it once then it really isn't worth the investment. Also, think about it in terms of how many hours you have worked rather than in cash terms. This can make you realise that it will take a lot of blood, sweat and tears to pay off an item that you won't get much wear out of.


List Outgoings

If you're not sure how much is going out of your account every month then now is the time to make a list your outgoings. This allows you to see how much you will have at the end of each month rather than panicking when you go over-drawn. Also, it's important to always check bank statements to ensure that you're not still paying for a service you have cancelled. Although you may have cancelled a service or payment plan, administrative errors can mean that money is still being taken after it has been cancelled. This has happened to me before.


Save save save

One of the most important things to do if you're looking to overhaul your finances is to save. It doesn't matter how big or small the savings are but it is wise to put some of your income away each month and just forget about it. If you can save $10 dollars a week that's great and if you can save more, even better. Try to get into the habit of putting a little money aside.


Think Big

Some things can seem too big to even think about, so we don't. It can be easy to put off thinking about the big stuff we want to achieve, worried about the fact that we just don't have the capacity to save for them. Instead, get a grip on the big stuff and start to break down big tasks into smaller chunks. You will get there but patience is a virtue and it may take a little time.



Investing in stocks and shares can seem scary but all you need to do is speak to a financial advisor who can tell you about some of the best ways to invest for your circumstances. Playing the stock market can reap many benefits too but if you're not sure what you're doing, it's best to speak to an expert who can advise.


Climb the Ladder

Obviously, if you want more money, you may have to look at your career and salary and you may need to start climbing that career ladder. Keep your CV up to date and spend some time thinking about all the things you have done well. If you believe it's time to go for that promotion, there's nothing to stop you.


Change Accounts

It may be that your bank account is not working for you any more but you can change it. Many banks are more than happy for you to put your money in their pockets and will offer great rewards and incentives for the privilege. Shop around and take advantage of the deals.


Make Some Switches

As well as your bank account, you may want to make some other switches in order to save. Maybe you need to change insurance providers or mortgage lenders. It's amazing how much you can save if you do a little research.

These are just some of ways in which you can overhaul your finances this year and be in a better position for next Christmas. Can you think of any other ways?

Feedback Junction

Where Thoughts and Opinions Converge

Great advice. I really want to invest, but I don't want to invest a lot at the begining. I feel if I tell a financial adviser I want to invest $100-200, they'll laugh in my face.

Hi Michelle. I work in Financial Services. The key is to find an advisor who does not have a minimum. Often times companies have those in place to ensure that they are not losing money on advising you. It costs money for them to invest your money for you. Are you eligible for a 401(k)? If so, that is a great way to start since there is no minimum for those. If you can't find an advisor, try an online service like Vanguard or Fidelity. Good luck!


I love doing # 4 😀💰

Related Topics

13 Wonderful Financial Resolutions for 2019 and beyond ... 7 Habits That Prevent Financial Freedom ... 7 Ways to Plan for Closing Costs if Youre Buying a House ... 7 Ways to Ensure You Have Enough to Live on when You Retire ... 8 Things You Need to Know about Money before You Reach 25 ... Not Good with Money Learn from Your Financially Savvy Friends ... 7 Hacks to save Money on Clothes That You Havent Considered ... saving money aesthetic 7 Ways to Avoid Repeating Last Years Money Mistakes ... 9 Ways to Secure Online Accounts That Will Still Work Next Year ...

Popular Now