2020 is around the corner, and we’re not just entering a new year, we’re starting a new decade. This means new year’s resolutions will soon start to become a priority for many. One item that always makes it on my list is my financial situation.

Don’t get me wrong, I’ve come a long way from where I was last decade, but there are several areas where I make improvements. If improving your finances is at the top of your list for 2020, there are a few simple steps that can help you achieve it.

Below are five easy ways to improve your finances in 2020.

1. Set goals

Whether you’re setting goals on your own or with your family, setting clear goals is key to making positive changes. Set time aside to really dig into what it is that you want to improve this new year and make sure to write everything down. You can even treat yourself to a staycation to make it an inviting and fun experience.

2. Create a budget

If you have a bad track record with spending money, creating a budget can be a simple solution. A budget can easily help you see all your upcoming expenses, so you know exactly what to expect. We often underestimate upcoming costs and payments, so the budget can become your blueprint for managing your money.

3. Cut your expenses

If you often find yourself in a tight spot when it comes to your finances, you might be living outside of your means. While some expenses like food, mortgage, and bills, are non-negotiables, there are usually other places where you can cut costs. If you’re signed up for subscription services you don’t need or use, this might be a great place to start.  

4. Pay off debt

Whether it’s student loans, car payments, or maxed out credit cards, tackling your debt is a great way to take charge of your finances this new year. While this step can be overwhelming, it’s important to remember that you don’t have to do it all at once. Dave Ramsey’s debt snowball method is a great reference point when you’re ready to eliminate your debt.

5. Diversify your income

Most of us set limits to our own potential, and our income ceiling is a common area. This doesn’t mean we have to get another full-time job. However, it does mean we explore other options that can make us extra money. Selling your unused clothes online is an easy option that requires little work. You can also look into freelance writing, drive for a rideshare company, or sell your services online.