It’s official: there is less than a month left before 2020 arrives, and with that comes the start of an entirely new decade! What better way to step into the next era than by turning a fresh leaf on your finances? If you’re like most of us, you’ve already tried to get your finances back on track, and maybe you’ve succeeded for a short time before falling back into that old spontaneous money-spending routine. It’s tough to find an efficient routine and stick to it, after all!

We know that monitoring your spending and saving habits is easier said than done ⁠— which is why we’ve decided to help you out with some easy, foolproof tips to help you reach your financial goals!

Commit to a social calendar to avoid going out excessively

Planning a social calendar month by month is a great way to stick to your budget and monitor how much you spend while out on the town. This could mean anything from setting a limit to how many nights you go out for drinks to reducing the number of times you go out for lunch each week; it really depends on what fits with your lifestyle and how much you're trying to save.

Make budgeting easy with simple tools

Before you can stick to a budget, you have to first create one. While you can go the old-school route and create your own DIY spreadsheet, there are also plenty of amazing budgeting tools out there to guide you on the path to financial freedom. For example, NOMI Budgets, available in the RBC Mobile app, is a super simple and handy way to keep your spending habits in check. NOMI Budgets uses artificial intelligence to analyze your spending habits and then recommends a personalized monthly budget.  It also sends you notifications when you’ve hit certain key percentages (50%, 75% and 100%) of your budget to keep you from overspending!

Meal prep to avoid eating out

Listen, we’ve all been guilty of buying lunches during the work week instead of bringing food from home. It may be convenient, but it takes a hefty toll on our wallets if you make a habit of it. Instead, instill a meal-prep routine to both save some extra dollars and eat healthier!

Set aside one day per week to do groceries and pick up all the ingredients you’ll need to whip up a dish that you’ll be able to divide into containers and bring for lunch all work-week long. 

Commit to making your finances a priority

To stay on top of your finances, your goal has to stay at the forefront of your mind. But having a little (or a lot!) of help to attain your objective is always a plus. You can actually become a pro at managing your everyday finances with NOMI Insights. You'll benefit from personalized trends, timely alerts, and categorized spending based on your own money habits. Plus, NOMI Insights totally has your back when it comes to keeping your money safe by alerting you of any unusual activity.

Open an RRSP

There’s no better time to save for your future than the present, am I right? While retirement may seem like it’s eons away, it’s important to start building a nest egg for you to tap into once you hang up your career clothes for good. Opening up an RRSP account and making regular contributions towards it is the first step towards a secure financial future!

Purge your closet and sell your unwanted clothes

Chances are, your closet is overflowing with items whose glory days are long gone. An easy way to make some extra cash? Sell any clothing items and accessories that you haven’t worn over the last year. Why keep stuff that just takes up space in your closet when you can turn those items into money to deposit into your savings account? You’ll be making money AND decluttering. Talk about two birds, one stone.

Find ways to save on travel

Part of reaching financial goals involves cutting down on any excess spending, which typically includes any kind of leisurely travel. If you’re really serious about hitting certain financial milestones, you’re going to have to inevitably make some sacrifices in terms of how extravagantly you spend your vacation time. It isn’t all bad, though! Just try and seek out cheaper options for weekends away, like splitting an Airbnb with friends for a cottage getaway, or spending a week camping in the summer. You can globetrot your way around Europe or Bali some other time.

You can also use reward points to offset any travel costs! RBC Rewards, Canada’s largest loyalty program, offers tons of ways to earn, save, and be rewarded with stuff you actually want. Use your points to pay for flights, car rentals, hotels, and more.

Save money you (kinda) didn't even know you had 

While saving might be the last thing on your mind during the holiday season, NOMI Find & Save can help. Using advanced technology to predict your expenses and spending patterns, it finds money in your cash flow. It then identifies opportunities to save and automatically moves money into your savings when you’ve got a bit extra on hand. The average NOMI Find & Save client saves $187 per month. In a year, that’s $2,244 that could be put towards debt or savings. Contributing to your savings without even having to think about it? Um, yes, please!

Trust, it's not too late to take control of your finances this year ⁠— even though 2019 is on the way out. Being proactive towards your savings goals at this stage in the game is a great way to make sure you reach them; and using tools, like RBC's NOMI and other products put in place to help you, is a surefire way to get the ball rolling!

Want to learn more about how to organize your finances and hit your goals? Download RBC’s app and check out their suite of NOMI capabilities to get started! Follow them on FacebookInstagram, and Twitter for more updates. 

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