| 4 simple steps to spending less in 2020 | | |  | WED, JAN 15, 2020 | | | | No matter where any of us are in our financial lives, we all need to know that it's possible for anyone to turn things around and start saving money. Sometimes it's just taking that first step in the right direction to get things moving. Easier said than done, right?
Well, Sharon Epperson, senior personal finance correspondent for CNBC, helps by outlining some simple steps you can take to spend less and save more in the new year. None of these suggestions are life-changing on their own, but they can make quite a financial difference over the long haul. To be honest, they are incredibly simple and anyone can do them.
To start, rank those expenses. That means being honest with expenses you actually need (rent and food) versus what you want (travel and entertainment). Next up, challenge every expense you make. For example, do you really need that daily $7 vanilla soy latte? You also need to slow your roll on impulse buying. These purchases may give you happiness at first but have no long-term value. They're often completely unnecessary.
When it comes to making a budget, many of us are aware there are two basic categories of spending: the things we have to pay for, and the things we don't. Give it a shot and start the new year right with some actionable goals and a sustainable game plan that will help you achieve your financial goals by saving more and spending less.
For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow.
| | 4 simple steps to spending less in 2020 | | Saving more money is a common New Year's resolution, but it can be easier said than done. Here are some simple steps to better financial habits in 2020 and beyond. | | | | | | Who is accountable? | | "Accountability and consequences are both relative things. The less we hold ourselves accountable, the less accountable we become ..." | | | |
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