If there is one resolution that can apply to everyone, it is this: to be wise with our monetary gain. No matter what your financial status is or what you plan it to be for 2020, it is so essential to budget your money now before the late-night munchies, dinner invites, and holiday sales begin. Here are some tips to help you stick to your resolution this year:

• Budget
  • Creating a budget for yourself and/or your household can have a great impact on your resolution. Many people assume that they know how much money they are spending or that they do not need to write out a budget in order to save money; however, planning your budget in a tangible way can assist you in sticking to it. This is because it gives you the ability to track what you are spending, where you are spending it, and what the purpose was for your spending. Tracking your spending allows you to see either the progress you’re making or the progress that you need to make.
• Savings
  • Most people know that it is wise to create a savings account; however, most people do not realize that it can also be wise to segregate your savings into separate accounts. When you have separate accounts, you are forced to be more intentional about where your money is going. Create separate accounts for your emergency fund, travel/vacation budget, or even tuition or mortgage funds.
• Routine
  • Humans are creatures of habit, so, creating positive habits is the best way to inflict change in your behavior. By setting a daily, weekly, or monthly routine to create healthy habits when it comes to your finances, you are putting yourself in the best position to succeed. This routine is completely individualized to your unique needs and spending habits; however, some examples could include: meal prepping to avoid eating out, paying all of your bills on the same day each month, setting up automatic payments with your banking system, or even setting aside a specific time each week to look over your budget and track your spending.
• Research
  • When it comes to saving money, there are so many ways to do it! From coupons, to weekly sales, to bulk purchase deals, there are a lot of ways to save money when it comes to both daily spending, as well as larger splurge spending. We all have different spending habits as well as different financial needs and resources; meaning, this research will look different for each of us. When trying to save money in 2020, research creative ways for you and your family to spend money that match your unique spending needs.

Saving money is a goal that we should all have, and when it comes to sticking to your budget in 2020, Team Wren wants to ensure that you and your loved ones are put in the best position to do so. Feel free to contact us if you wish to learn more about how we can help insurance fit within your budget.