Money Personal Finance

No-nonsense tips to be richer and happier in 2019 – More power to you

Guys! It’s 2019 and 20 days have already passed like a whirlwind. I can bet that most of you have already made New Year’s resolutions and have started to work on them by now.

Don’t beam with a smile if you’re working on your New Year’s resolutions sincerely because 2019 has just arrived and you shouldn’t count your chickens before they hatch.

Okay. No more jabbering about your financial resolutions. You’re free to do whatever you like to do. But if one of your financial resolutions is to be richer and happier in 2019, then read this post and follow the tips I’m sharing with you.

1. Ask for a pay hike

The best way to begin the New Year on a beautiful note is to ask for a pay hike. You have worked hard in 2018. Now, it’s time to reap the benefits. Ask your boss to evaluate your performance and give you a pay hike. Don’t forget to look for a better job if your boss is not ready to give you a pay hike.

2. Cut your living expenses

It’s impossible to eliminate certain expenses. It’s simply not possible. But you can certainly try to save 10% on your overall expenses. For instance, if you save 1% in each category like food, clothes, accessories, utilities, insurance, skincare, etc., then you can easily reduce your expenses by 10%.

3. Save 10% of your paycheck

Once you’re successful in reducing your expenses by 10%, direct that money into your savings accounts. Eventually, you can invest that money in mutual funds and bonds for future growth. You may not feel happy when you give up several things. But when you see growth in your savings, you’ll be happy.

4. Avoid shopping with plastics

When you shop with a wallet full of plastics, you’re tempted to shop more. In other words, you’re tempted to spend more. This is not a healthy financial habit and you should try to change it this year.

Use a credit card only for emergency expenses. Pay with cash whenever you buy something. Whenever you buy something with cash, you’ll instinctively avoid draining your wallet. This will help to lower your expenses automatically. Leave your plastics at home for the next 2 months to find out if it helps to reduce your expenses.

5. Save more in your 401(k) account

The most painless way to be richer a year from now is to increase your 401(k) contribution by whatever amount you can. Adopt good financial habits in 2019 so that you can contribute more towards your 401(k) account. I guess you know that the contribution is tax-deductible. So you’ll be relieved to know that a part of the amount will be paid by the government.

6. Pay off your current debts

Debts are expensive and they cost you a lot of money. If you want to be richer in 2019, then follow the debt snowball method to pay off your debts. The best part of the debt snowball method is that it helps you to pay off the smallest debt quickly, and that boosts your morale and confidence. When you start paying off debts one by one, your cash flow improves gradually.

7. Don’t incur fresh debts

It will do little good to your financial life if you incur fresh debts. Follow the debt snowball method and avoid incurring fresh debts. This is the best way to get rid of debt.


Plan short trips this year to recharge your batteries. A vacation at a beach can cost you a lot of money. Since your goal is to be rich and happy, so avoid planning a long vacation in the peak season at a popular tourist spot. Stay close to home and cherish the beautiful moments of life.