Smart Money Moves To Grow Financially In 2019

10 Smart Money Moves To Grow Financially In 2019

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3 months have been passed in 2019, but some of us still struggling with our finances just like any other year. To build a strong financial future and a decent money profile will be possible in 2019 if you take care of a few things regarding your finances. For that reason, you have to make smart money moves from now on.

Here I am sharing a few ways to make money in 2019 and give a boost to your financial wealth. Let’s have a closer look at your long-term financial goals. Sounds Exciting?

1. Create a budget for 2019

Budgeting is the key to get success in your financial life. We normally avoid planning a budget. But the fact is, budgeting can truly help you to prepare a spending plan for your money and ensure that you can spend enough money on your needs.

Budgeting may help you to keep debts away from you as you will prepare your financial plans in the form of a healthy budget.

But you should always prepare a budget for the entire year. Separate and categorize your major expenses and income for the whole year.

2. Check your retirement contribution

Planning for a secure retirement life is another important thing for you. So, you should plan and contribute to a retirement plan without fail.

If you are already continuing with a plan, you must check out two things:

  • Your retirement contribution amount in 2018
  • Increasing the contribution amount for 2019
10 Smart Money Moves To Grow Financially In 2019

3. Concentrate on investing

As per the report was given by Gallup in 2016, only 52% of U.S. citizens invested in stocks, including individual stocks, a stock mutual fund or a self-directed 401(k) or IRA.

So, you should also invest in some projects so that you can earn some decent money over time. Of course, initially, you don’t have to be a pro in investing or outstandingly wealthy to become an investor. You may have executive programs which allow you to invest by rounding up purchases off debit cards.

You should do some homework on investment options and what’s best for you. If investing works for you, maybe later you may involve your kids as well.

4. Work on your health
insurance requirements

Every person who has some sort of health insurance plans, it is better to re-evaluate these plans at the very beginning of the year. If you think it is necessary, increase the coverage of your plan by investing some more money into it.

If you are opting for a health insurance plan for the first time, make sure you do your research well and evaluate the plan and its benefits. You need to compare multiple providers and health plans if you decide to drop your current health plan.

5. Use debit cards for
making payments

It is best to use cash rather than using credit cards for making payments. But sometimes, carrying too much cash can also be difficult and harder to keep track. So, to solve this issue, you may use your debit card as much as possible. A debit card is the best alternative to cash as it’ll help you to handle your payments better.

Apart from that, as you are directly paying from your account and not using your credit cards, you are actually avoiding credit card debts more than anything.

6. Consolidate your
high-interest debt

Having debts can be horrible, especially high-interest debts like credit card debts and payday loans. Payday loans charge more than 350% to 500% interest on short term loans, and high-interest credit cards may also charge late fees, penalties, etc. And that would be a bummer!

So, you have to pay off your debts as early as possible, that’d be the ultimate thing for you. But for the time being, you should concentrate on reducing the high-interest rate on your credit cards and your other debts.

The best way to do this is to consolidate your high-interest debts by opting for a low-interest personal loan a.k.a debt consolidation loan. Why so? These are the reasons:

  • It’ll lower your interest rate on different debts
  • It’ll lower your total interest payable in a month
  • It’ll be easier to make one payment rather than making multiple payments
  • It’ll provide you easy repayment option for a longer period
  • You’ll be able to pay off your debts quicker
  • It doesn’t hurt your credit score

You can pay off your debts faster if you consolidate credit card bills by taking out a debt consolidation loan. By doing this, you will be paying off your credit card balances in full. Apart from that, if you continue to make payments on time for the existing loan every month, your credit score will also get a boost over time.

10 Smart Money Moves To Grow Financially In 2019

7. Check your credit report

Your financial health will be depending on your credit report and how your credit score is. Making money from different sources can be difficult if you have a low credit score of a disputed credit report.

Whenever you start a business or invest your money to gain more, your credit score and credit report will play a vital role. Most of the lenders in the industry, credit card providers, and other service providers will access your credit report and your score before providing you any type of services. So it’s quite crucial that your credit report should be error free.

You won’t get big offers, big discounts, low interest rates, and even lower insurance premiums for your health insurance if you have a credit report with errors. So, check your credit report periodically and dispute errors if you find any.

8. Initiate mini spending freeze

Smart Money Moves  To Grow Financially  In 2019

Do you know what a mini spending freeze means? I’ll explain it to you.

When you restrict yourself from spending money for a short period of time it may be considered as a mini spending freeze. You are just freezing your spending habit for a limited point of time.

Suppose you have decided to initiate a mini spending freeze for 15 days. During that time you should stop buying anything apart from your essential household stuff. After doing this for 15 days, you’ll see the reflection on your credit card bill. You’ll be happy to see the drop off your credit card bill with a significant amount.

The method will reduce all unnecessary expenses that might happen in those 15 days. It would also give you an idea about what you really need in the next month, along with a boost to save some more.

9. Set new personal goals

Just working on your old money goals won’t do the trick. You might need to set up new personal goals also to stay motivated. Discuss with your family about the financial experiences you had last year, and prepare new strategies to face new hurdles. Write down your plans, get suggestions from others, and start new ventures with confidence.

10. Set up a new emergency fund

Make sure you save 3 to 6 months worth of income as an emergency fund, added Leanna Johannes, the senior wealth strategist at PNC Wealth Management in Philadelphia. This is a wise financial move that may help you to tackle any urgent money crisis such as an accident or sudden job loss.


So, I hope you have a clear idea of lowering your potential expenses and increase your contribution to money making. Leave no stone unturned, and keep working with confidence.

Hello, ladies! I hope you liked this post. I started my online business journey in 2003, worked for others or sign in at wrong programs. A three years ago I started with affiliate marketing, and now I am running my own online business, working from home. So, I can help you to start your own business.

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