You know what Rachel Nichols loves? Desserts. This Hollywood actress loves desserts of all kinds. But the dessert that makes her happiest is ice cream. Because ice creams are simple, she says.
There’s something to be said about simplicity. Even Steve Jobs was a big fan of simplicity. He found it easier to focus on simple things.
Simplicity works way better than complexity. Even when it comes to making new year resolutions.
Fancy resolutions are probably more fun to make, but the simple ones are easier to implement and continue with through the year. Hence, if you ask us about the money-related new year resolutions that you should make for 2019, we’ll give you the ones that will make you go, “Duh!”
There’s nothing new here; you already know about these things. But they are worth reiterating because simple resolutions are as easy to forget as they are to implement.
Invest regularly: We know, we know, you keep hearing this all year long, but we can’t help it–pretty much all of your financial troubles can be kept at bay if you invest regularly
Invest before you spend: Important. Make sure your SIPs are at the start of the month so that your investments are not compromised because of some spur-of-the-moment purchases
Buy insurance online: If you don’t have term insurance and health insurance, buy it immediately. And buy it online–it can be cheaper and easier
Keep an emergency fund: At least 6 months worth of your monthly expenses should be stashed away in a separate bank account to be accessed at the time of exigencies only
These resolutions might make you say, “Thank you, Captain Obvious,” but pay attention to them nonetheless. The duh ones are the best ones to keep your financial health in check through the year.
Here’s one more that you can try–delete your credit and debit card details from your shopping apps. If you have to feed in the details every time, you’ll be forced to think twice about what you’re buying. This will help you save by making sure you don’t buy stuff you don’t actually need.
After all, saving is half the battle won. The other half is investing. For more on that, go back up.
Happy new year!