Whether you want to become debt-free, travel more or anything in-between (like stepping back from the Royal Family), finances can be at the core of these goals. To help you achieve your financial goals in 2020, here are 10 tips from Rebecca Gramuglia, Personal Finance Expert at TopCashback.com. 

Start living within your means. Spend, save and splurge within your means by implementing the ‘50/20/30’ rule. The 50/20/30 rule is a basic budgeting tool that is made to keep you on track with your financial goals year-round. Generally, you should spend only up to 50 percent of your after-tax income on essentials, such as housing; 20 percent on financial priorities, such as debt repayments and savings; and 30 percent on lifestyle choices, such as vacations. By following this rule, you will be able to better manage your finances by living within your means. Think of budgeting as a guide you set up to make sure your money is doing what you’re telling it to do. 

Track your spending.  Making a budget and sticking to it is key to gaining financial freedom, but the way to do that is by tracking your expenses. Once you know where your money should go (bills, savings, etc.), list every expense on a spreadsheet for the first month to see if you’re on track. This will help you determine whether your budget is realistic and can give you an accurate picture of where your money is going and where you’d like it to go instead. 

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