In December, we all dream big about what we’re going to achieve next year. But when it comes to action, money talks. That’s why we think your best start to the new year is making money moves that will make a real difference. 

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Life begins at 50/30/20

Sometimes it’s hard to know if you're in charge of your money or your money is in charge of you. Put your money in its place next year with a budget. A realistic budget is simple, easy and so simple that you’ll stick to it. Try the 50/30/20 rule: 

Sort your net monthly income into three categories: 50% for needs like rent and bills, 30% for wants like clothes, entertainment and eating and 20% for savings. It’s simple, it’s free and the easiest way to start the year right. 

Make your resolutions shockproof

Saving for big goals is admirable but saving for an emergency fund is essential. If you haven’t built up an emergency fund to absorb unexpected costs like a big winter heating bill or a health emergency, you’ll have to avoid take on debt and kiss goodbye to your financial goals for the year. 

Your first step after making a budget should be an emergency fund, even if it’s only a few hundred euros. You can top this up with what you can afford each month. We find that new year’s resolutions are more comfy on top of a nice cushion of emergency money anyway. 

New money means new you 

No matter what you have planned for the next year, a strong financial foundation will let you spend your time and energy on doing what you love. The best way to make 2022 your best year yet is to give yourself a strong financial head start, so follow these simple steps and start the year with your best foot forward: 

  • Crack the whip and get your money in line with a simple budget 
  • Keep yourself out of harm’s way with an emergency fund, even if it’s just 50 Euros a month
  • Use your new financial freedom as the foundation for your goals in 2022. You’ll have started on a win, now just keep going!