2020 Jan Articles Archives

Budgeting Tips for a Better Financial Year

The festive season is an expensive time of year, and it’s also an important time to analyse your financial health and take steps to improve it. These five New Year’s budgeting tips will help you to plan ahead and budget more effectively in the year to come.

Set Specific, Realistic Goals

Think about what your financial goals are, and what you want to accomplish by spending less or saving more. Instead of saying “I want to save more this year”, say “I want to save X amount this year” or “I will put X amount from every pay-check into a savings account this year”. It’s okay to start small and work your way up. Any start is a start.

Evaluate the Past Year’s Spending

Look over your bills from the past year, and make a note of which months were most expensive and why. Note expenses like insurance, property tax and car repairs, so you can be better prepared for these expenses when they come up in the New Year.

Set Your Monthly Budget

Use a spreadsheet or online budgeting software to set up a budget for the next 12-months. Include all the necessities like rent and groceries, but don’t forget incidental expenses like new clothing, car repairs or birthday gifts and holidays. Keep track of your budget from month to month, so you can see if you’re overspending in any of these areas.

Set Up an Emergency Fund

Even with a carefully managed budget, you’re likely to run into unplanned emergency expenses from time to time. Set aside some money every month for an emergency savings fund, to help ensure you are better prepared for unexpected expenses.

Shop Smart

Here are a few smart tips for more frugal shopping when you’re on a budget:

Make a shopping list and stick to it.
Have a meal or snack before shopping; if you shop while hungry, you’re likely to spend more.
Draw the cash you need and leave your credit card at home.
Compare prices and look out for specials and coupons to find the best deals.
Buy in bulk where possible.
Browse local online marketplaces for second-hand deals.
Sell or exchange unwanted extras on a local online community marketplace.

Put these New Year budgeting tips into action, with this handy spreadsheet.

DOWNLOAD THE SPREADSHEET >>

Sources:

3 Ways to Make Budgeting a Success in the New Year. Retrieved from: https://www.shermanwealth.com/3-ways-make-budgeting-success-new-year/

10 Tips for Staying on Budget in the New Year. Retrieved from: https://yourrichestlifeplanning.com/10-tips-for-staying-on-budget-in-new-year/

Budget Bingo: 12 Quick Saving Tips to Kick Off the New Year. Retrieved from: https://www.fin24.com/Money/Investments/budget-bingo-12-quick-savings-tips-to-kick-off-the-new-year-20190102

Five Steps to Better Physical Fitness

Physical fitness doesn’t just keep your body healthy – it’s also important for a sharp mind and a well-balanced emotional state. With the New Year beginning, here are some tips for improving your physical fitness and enjoying an overall healthier lifestyle.

Set Your Goals

Think about what you want to achieve by getting fit. Do you have a goal weight in mind, are you looking to improve your sports performance, or do you just want better energy levels? Write down your goals and commit to them. Decide which goal you want to prioritise, and focus on that first, so you don’t become overwhelmed and lose focus.

Decide on a Workout

Choose the type of exercises that will best help you to work towards your goals.

Cardio and aerobic exercises like walking, running and cycling use large muscle groups and increase your heart rate, helping to boost endurance and manage weight.
Strength training exercises like weight lifting help to increase bone and muscle strength. These exercises are best for building muscle and toning your body.
Core exercises focus on strengthening the muscles in your abdomen, lower back and pelvis, for better posture, muscle tone and overall core strength.
Flexibility and stretching exercises like yoga and dancing improve your range of motion and promote healthy muscles and joints.

Set a Regular Exercise Schedule

Make time for exercise at least three times a week. Regular physical activity will help you work towards your physical fitness goals, while also improving your heart health and reducing your risk of heart attack and stroke. You can work out for 30-minutes five times a week, or 60-minutes three times a week, depending on your schedule. It can be hard to get into a routine at first, but stick with it and it will get easier. You will start to feel more energised and your body will start to release “feel good” endorphins.

Support Yourself with a Healthy Diet

Diet and exercise go hand in hand. A healthier and more balanced diet will help you to get better results from your workout efforts. Eat plenty of fresh fruits and vegetables for vitamins, minerals and fibre, as well as lean protein to build muscle and complex carbohydrates for energy. Most importantly, stay hydrated by drinking plenty of water.

Track Your Progress

Once you’ve set your goals and put all that effort into working towards them, it’s important to keep yourself motivated by tracking and recording your progress – that way you will be able to celebrate your results, and adjust your workout plan if necessary for better results.

Keep a workout journal to help you plan and track your daily and weekly physical fitness activities. Weigh yourself or take your measurements at regular intervals, and calculate your BMI. This will help you to stay on track as you work to reach those fitness goals.

Sources:

5 Steps to Get Started on Your Fitness Program. Retrieved from: https://www.unilab.com.ph/articles/5-steps-to-get-started-on-your-fitness-program/

5 Steps to a Healthier Lifestyle. Retrieved from: https://www.acmc.edu/5-steps-to-a-healthier-lifestyle/