![\"\"](\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2020\/12\/new-years-resolutions.jpg\")
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Around this time of year many people start to make resolutions – things they want to start doing, or stop doing, to improve their life. It is not uncommon for saving and investing more to be in people\u2019s top five resolutions.<\/p>\n
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Not sure what your new year\u2019s money resolutions should be? Here are some ideas.<\/p>\n
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When you get your paycheck, many people often spend first, and then save what is left over. The problem with this is that it doesn\u2019t guarantee any regular savings; your savings could become dependent on how much you spend each month (and often in a rather unplanned fashion).<\/p>\n
In 2022, strategically pay yourself first by setting aside a fixed percentage of your income towards saving and investing (for example the 20% from the numbers above), and then spending with what is left over.<\/p>\n
Automation is your friend if this is your resolution, which can whisk the money straight out of your spending account before you have a chance to spend it. Setting up a recurring deposit into your Raiz account is one way to do this.<\/p>\n
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The problem with most budgets is we often become disengaged with them, leading us to stray from their guidelines. A simple 50\/30\/20 budget can be a good place to start with budgeting, since they are relatively straightforward and easy to follow.<\/p>\n
It\u2019s simple in principle and in practice:<\/p>\n
These numbers aren\u2019t necessarily fixed; however, they provide a strong foundation for building healthy financial habits to help you achieve your goals.<\/p>\n
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The previous tips are good behavioural changes to help you start managing your money better and saving more, however it\u2019s also good to have a goal to work towards. Some common savings goals your could consider are:<\/p>\n
\u00a0<\/strong><\/p>\n $1000 sounds like a lot, but over the course of a year this actually isn\u2019t too<\/em> difficult to achieve. We all like a challenge to get fit or lose weight or to meet another goal. \u00a0Saving and investing is no different.\u00a0 If you save just $20 per week, you\u2019ll put away $1040 in a year. If you have not already set up a recurring deposit or savings goal with Raiz, then setting one up and investing $20 weekly into your Raiz account could help you achieve this.<\/p>\n To see if Raiz is suitable for you, please read the PDS<\/a>.<\/span><\/p>\n For more information on Raiz fees, click here<\/span>.<\/a><\/p>\n <\/p>\n <\/p>\n Download it for free in the App store or the Webapp below:<\/p>\n <\/p>\n Important Information<\/em><\/strong><\/p>\n The information on this website is general advice only. This means it does not take into account any person\u2019s particular investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the product.<\/em><\/p>\n A Product Disclosure Statement for Raiz Invest and\/or Raiz Invest Super are available on the Raiz Invest website and App. A person must read and consider the Product Disclosure Statement in deciding whether, or not, to acquire and continue to hold interests in the product. The risks of investing in this product are fully set out in the Product Disclosure Statement and include the risks that would ordinarily apply to investing.<\/em><\/p>\n The information may be based on assumptions or market conditions which change without notice. This could impact the accuracy of the information.<\/em><\/p>\n Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.<\/em><\/p>\n Past return performance of the Raiz products should not be relied on for making a decision to invest in a Raiz product and is not a good predictor of future performance.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Around this time of year many people start to make resolutions – things they want to start doing, or stop doing, to improve their life. It is not uncommon for saving and investing more to be in people\u2019s top five resolutions.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[],"yst_prominent_words":[384,98,151,224,245,233,313,97,82,117,100,166,125,239,3615,308,1074,315,605,229]}Challenge yourself to save $1000 in a year<\/h3>\n
\nDon\u2019t have the Raiz App?<\/h3>\n
![\"download-raiz-app\"](\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2018\/08\/download-app.png\")
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