Are you willing to take command of your finances in 2019?

Diving into personal finances can be exciting, but also overwhelming. There are many personal finance tips to read and money blogs to discover. It can be easy to get lost with varying information, and as such might end up being challenging to find the wisdom nuggets you need. That's why we've come up with this money management tips so you can navigate all areas: from savings to spending to investment, and of course, setting up a budget (less scary).
Read on for the best personal finance tips:

Review your current budget

Set up two or three hours of uninterrupted time with your bills, salaries and a computer to find out where to stand financially. You need to determine what percentage of your salary to bring home. Make this easy by dividing it into three categories:
 Fixed costs: rent, insurance, mortgage, utilities.
 Flexible expenses: Food, entertainment, and travel.
 Financial objectives: payment of debts and savings.
A quick online survey will reveal a large number of free online budget tools that can help simplify this task. To balance your budget, apply the "50-20-30" rule: do not spend more than 50% of your net fixed costs, at least 20% for financial goals and at most 30% for flexible expenses. The lower the fixed and adjustable costs, the more you can contribute to your financial goals.
Budget to achieve your financial goals
Yes, I know that the budget is a strong word for many people. I can understand why, if you're thinking of creating a budget, you cannot spend your money. I'll be honest, I'm not a budget lover myself, but I certainly have one. Remember that budgets do not limit your expenses; they allow you to spend while managing your finance. They tell you whence you can spend and can help you focus on achieving your goals.
It's complicated to learn how to manage your finances better and achieve your goals if you do not have a plan (budget) to help you do it. It is even more necessary to learn how to save money if you have a low income because every cent makes a difference.

Only consider Loans (Short term loans) when faced with an emergency
When trying to learn how to manage your finances well, be aware that loans, additional debt or a series of loan do not fall into this category. Taking money means that you spend more than you earn. This is not a good start for your goal of managing your finances as a specialist. Faced with an emergency and you need money now? Then consider taking short term loans. You spent a lot of time thinking about your financial goals and creating a budget. Not taking long term loan is a logical step.

What are the characteristics of emergency loans?

Short-term credits can give you quick access to the money you need in an emergency, but it's a great approach to weigh your options before applying them. Here is an analysis of what you need to know before taking short term loans:
 Response time: If you need money to handle an emergency, the sooner you get it, the better. Some lenders can provide financing on the same day, even on weekends, while others may ask you to wait 2-3 business days.
 The maximum amount of the loan: National regulations regulate the maximum amount that can be borrowed through a payday loan, but this does not mean that all daily lenders make loans out of this amount. Some creditors require you to use a progressive system before you can benefit from the maximum amount.
 Fees: National regulations also determine the number of annual fees that can be levied by a credit institution, which translates into the amount of taxes you pay. Interest rates vary depending on the credit institutions operating in the same country, as well as commissions and fees.

Spend wisely and pay bad debts first
Focus on the payment of "bad debts," such as credit cards or personal loans, before good debts such as mortgages, student loans, or commercial loans. Face the debt with higher rates before paying more than the minimum monthly balance. Even if the debts are huge; in the long run, you'll save money by paying less interest earned. A student loan is a typical example of "good debt"; not only has this been an investment in your future, but borrowing rates are often lower, and interest rates are usually deductible. Getting complete and timely payments for your monthly student loans can help you improve your credit score.
Find an app to help you stay on the right path
Once you've set a new budget, consider using an app or website to help you meet your spending limits. Many budgeting applications will alert you if you approach the monthly spending limit in a particular category, and will enable you to remember the due date of the accounts and track the growth of your savings. A budget app is needed to help users control their expenses and set short-term savings goals, such as saving a little money each month for a payment they know they need to make in a few months.
Finding a way to control fixed and flexible costs goes hand in hand with service and increases your savings by more than 20% that you are contributing to your financial goals.

Bottom Line on how to manage your finances in 2019

Personal finances can be simple, but they are not accessible at the same time. It's about implementing a plan and acting. If you want to change your financial life in 2019 or anytime, start where you are with what you have. Do not compare the trip with others. Read personal finance blogs, individual finance books, listen to your finance podcasts and contact ideas that stimulate your passion for financing. Although it may seem that everything is related to money, it is about giving the desired life and buying your freedom and your time. Need money now? Consider taking a short loan (only in emergency) that can be paid without much interest. Lastly, financial management is possible if you put in the effort.