21 Financial Tips to Finish 2019 Strong

Unless you're an Avenger, you can't go back in time (and even that has some plot holes). That means that there's no reason to lament the financial mistake you've already made. Instead, it's important to focus on what you can do to fix your finances going forward and not worry about what you can't change.

Before you can save more or make any real changes it's important to understand your finances. Make a budget and break down how much money you have coming in and how much you have going out.

The best way to fix your finances is to adjust a major expense. Of course in most cases your biggest expense is housing, and that's not an easy expense to cut quickly since moving or downsizing costs money.

You may, however, put in place a longer-range plan to cut major expenses. That could mean cheaper rent or a less expensive house or holding onto your car for a period after you have paid it off.

If a latte brings you joy, then keep drinking your daily latte. But if expenses like that are just habit and not joyful, then consider cutting back. Look for areas where you are spending money where even you think it's wasteful.

ALSO READ: How to Enjoy Your Daily Latte Without the Financial Guilt

If you have a surplus in your monthly budget, automate setting aside some money in a savings account. It's sometimes possible to do this through work and, in other cases, your bank can handle it.

Even if the amount is small, doing this is a smart practice. Pennies pile up and become nickels and dimes, which eventually grow into dollars.

A great way to shore up your finances is to make more money. The fourth quarter is a great time to do that as, in addition to traditional side hustles, many retailers and companies impacted by the holiday season are hiring.

Mortgage rates are near historic lows, which makes it a good time to consider doing a refinance. Be careful to fully examine the closing costs and how long it will take you to recoup any money you have to pay upfront.

ALSO READ: Our Guide to Mortgages for Beginners

Credit cards generally have the highest interest rate of any debt you carry. Paying down your balance saves you money. Consider finding a card with a 0% interest offer and try to make sure you finish paying your debt off before that period expires.

Many people just shop where they have always shopped or where it's convenient. That's not a great idea and it makes sense to check online prices and even to visit other stores in your area to make sure you're paying the best possible prices on items you regularly buy.

Warehouse clubs offer no-frills shopping at very low prices. If you shop them smartly you should be able to cut your grocery bills and even find deals on other things you need like clothing, furniture, and electronics. Be careful. Not every item is a good deal, but most are, and the savings can be considerable.

ALSO READ: How to Invest in Warehouse Club Stocks

Most people let their home and car insurance auto-renew each year. That's not a smart move as you can save money by shopping around and trying to find a better deal.

Don't move from a company you like for a small savings. But if the numbers are worth it, be willing to switch.

Giving up something that's harmful can benefit you in a number of ways. There are obvious health benefits, but not spending money on the habit can also be good for your bottom line. Drop a vice and spend half of the saved money on yourself and put half into savings or towards paying off bills.

Is your house filled with clutter? Get rid of it by selling things you don't need online, at a yard sale, or to people you know.

ALSO READ: 3 Ways to Make Your Money Work for You

Check on your various subscriptions and decide which ones you really need, Many streaming services let you come and go without penalty. If there's no show your watching at the moment on that service, consider dropping it until there's something you actually want to watch.

Eating out costs money -- sometimes a lot of money. Save a bit by taking one meal a week where you would have ordered delivery or gone out to eat and make something at home. You might also consider having one night a week where you make a popular but inexpensive meal (like a taco Tuesday or Wednesday spaghetti day).

Dropping cable in favor of streaming services can be a big money saver. If you're clever in which services you subscribe to you may even be able to make the switch without making any major viewing sacrifices.

ALSO READ: Cord-Cutter No More: Why I Went Back to Cable

Gas prices can vary a lot within the same community. Check around to make sure you're paying the lowest price (while factoring in the cost of driving someplace that's not on your normal route). Warehouse clubs, which often have gas pumps, usually offer a very good deal (but it's members only).

If you have extra money and no high-interest debt, it's never a bad idea to put extra money toward paying off student debt. This will save you a little bit in interest and buy you some peace of mind as you move up the date your loans will be paid off.

If you have a little extra money (or even a lot) it's smart to make sure you hit annual limits for your 401k and/or IRA. This may not be a fun use of the money but it's a smart bet on your future.

ALSO READ: How to Maximize Your 401(k) and IRA in 2019

Even if you already have an emergency fund, it's never a bad idea to add to it. If you have three months saved, aim for six. If you have six, try to get to a year. Every extra month you save means extra peace of mind should things go wrong.

The holiday season has not quite seeped into September, making the month a great time to make a plan and budget. Know what you're going to buy, what you may buy, and start recording prices so you know when a deal is actually a deal.

If you make your first mortgage payment of 2020 before 2019 ends, then you can deduct the interest on your 2019 taxes. Just make sure your mortgage company knows you're making an early payment and not an extra one.

ALSO READ: Is Mortgage Interest Still Deductible After Tax Reform?

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