Improving one's personal finances is a noble and worthy goal - New Year, new you, right?
Having easy and implementable changes one can make to one's routine, however - that's a bit harder. In this article, I'm going to discuss four tips which can save you time and money in 2019, to make that resolution just a little bit easier to follow through on.
1: Keep credit card balances at or near zero, and choose cards with the best rewards that are redeemable monthly, and for cash. Studies show that in many cases, transferring your points to cash as soon as possible is the best way to monetize credit cards (for those who use them properly).
2: Make tax-deductible contributions to your retirement savings plan or a child's RESP, instead of giving gifts or consumer goods that will end up in the trash after a few uses. Make the most of your gift giving in 2019.
3: Upgrade your appliances and/or lighting fixtures to save money over the long-run in electricity charges (assuming the cost-benefit analysis makes sense). Do the math: find out how much each appliance uses relative to new appliances, and upgrade as necessary (light bulbs are easier: check the energy usage which is printed on the side of the bulbs you're using).
4: Buy gasoline on the weekend, with Sunday evenings statistically being the best time to fuel up. Gas prices fluctuate during the week, and choosing when to fill up could save you substantially over the course of an entire year.
Invest wisely, my friends.
