GREENSBORO, N.C. -- "Don't put off until tomorrow what you can do today!"
The famous quote about procrastination is useful in just about anything; including saving money!
Money expert Ja'Net Adams says with two months left in 2018, you may be tempted to wait until the new year to start your money-saving goals; but putting it off could hurt you in the long run.
"It seems whenever we get near the end of a defined time period, we find ourselves letting up and just waiting for the beginning again. For example, it's Thursday of the work week and we mentally are already in our bed on Saturday morning. Everything that could be done on that Thursday and Friday has been pushed to the following Monday. We do this hour after hour, week after week, but where we are the worse at it is during the end of the year," explained Adams.
"When November 1st hits, we immediately start saying, "In the new year I am going to.....! We are looking to make things happen on January 1st and ignoring the magic that can happen the last two months of the year."
Adams says with your money you can't afford to ignore the last two months of the year and pick it up in the new year.
"You want to get a jump start in November and December so that you can be in full stride on January 1st and not just starting like everyone else."
Adams, who wrote the book, Debt Sucks: Everyone's Guide To Winning Money So You Can Live Your Dreams. She offers these three areas of focus for the last two months of the year.
1. Career Prep:
"Ask yourself, what type of salary increase or bonus do you want at your job next year? Salary and bonus negotiations with your manager usually happen at the end of the year so you have to plan ahead if you want to be making more money. The last two months of the year is your time to write down what steps you are going to take in the new year to show your value," said Adams. "You need to should show that you add to the bottom line of the company and that they should pay you more money."
Write down what projects you are going to take on and how much money you plan to make for the company. Once you have your plan in place start working on it in November and December. This will give you an advantage because everyone around you who are your competition have already decided that they are going to coast the last two months of the year which means on January 1st you will be already two months ahead of them.
2. Household Prep:
"Whether you live on your own or with others, the last two months of the year is the time to get your household financially prepared. It is time to look at how the current year has gone financially. Was there a time during the year when things were tight and you felt financial pressure. During those tight times try to remember if your household felt stressed. If you did not like that feeling what are your plans to make sure that in the next twelve months you do not feel that way," said Adams.
Look at how the household can bring in more money to save in an "In Case You Are Breathing Fund" so that if tight times come you will have money saved that can give you space financially.
3. You Prep:
"This is more about the people around you and how you are going to do a better job with your money. Your money that is affected by those around you. For example, whenever a co-worker convinces you to go out to lunch even after you said you were not going to spend money; they're affecting your money," explained Adams.
You also should stop unnecessary spending so you can save more even in the last two more months of the year. Time and money add up and you can't afford to waste it.
"Don't ever put off improving your financial situation because no time is better than the present!"
Adams is also sharing financial tips at the following locations Thursday, November 8, 2018.
9 a.m. and 12 p.m. - Davidson County Community College - Rittling Conference Center 2nd floor.
7 p.m. - Venture Cafe' 486 Patterson Avenue in Winston-Salem