Financial stability in every household makes its inhabitants immune or resilient to market oscillations. Being financially responsible, tracking your expenses, and staying within your budget will make you realize where your money is going. Eliminating needless expenses while better utilizing your hard-earned money sounds great, but how can you achieve it? With a few handy tips and tricks, getting through 2024 and not stepping into the red zone is easier than you think!

For starters, you can’t spend more than what you set aside. Budget everything, from groceries and clothes, to entertainment, your car, etc. Once you’ve set money aside, consider it set in stone, and don’t stray from your decision. Buy groceries at a discount and with coupons, play at selected casinos on Readwrite’s list while staying within your entertainment budget, go to second-hand shops, or buy clothes in bulk. By not spending more than you plan for, you won’t create shortages and will have more money to allocate to other items in your home budget. Aiming to be a better saver means you are using your money wisely on stuff you don’t need. We all have countless subscription services today, and taking the time to list them all and go through what you need and use will let you know where you can cut back.

Bit by bit, those subscriptions will add up, especially if you look at your yearly savings. The new excess money you have can also be profitable. Money creates money, and putting more into your savings account or paying off your credit card debt can be the breath of fresh air you need in 2024. You can mark one month towards paying off your credit card debt, after which you’ll be free from stress and obligations since you won’t have to worry about leaving money in your account. Staying ahead of the curve means that you can plan your inevitable expenses in 2024. Weddings, trips, holidays, house renovations, etc, are not a surprise that happens overnight.

Saving to cover those upcoming expenses will make it easier to bear and finance them. While we are on the topic of planning, tax season starts on January 29th and ends – mostly – on April 15th. It will be over before you know it, but planning and requesting help can get this obligation done in no time, and you may even be eligible for a tax return. Expenses around filing your taxes can put an unnecessary strain on your budget, so requesting the necessary documents from your job and broker platforms now will beat the rush.

The IRS website also has plenty of information to get you started and to solve your FAQs. Hiring an accountant can be profitable and a good move toward managing your expenses, as tax write-offs, deductions, and returns can pay for any investment you’ve made. Lastly, if you have any extra money or plan to get more for your money, investing in 401k, s500, or VWCE exchange-traded fund, is about as sure as investments go. Investment risk can not be avoided and exists in all trading interactions.

We can predict to some degree what will happen in a year or ten years but surprises can still happen. Investing in the abovementioned stocks does not eliminate risk, but reduces it to a minimal amount. All three have proven resilient over time and have built up a reputation. While you won’t get rich overnight by investing in them, they could prove a valuable asset when you need to cover a sudden expense or if the market proves to be volatile. But investing in stocks, retirement, or your savings account remains the best option you can do to secure your financial safety.