6 simple money resolutions you'll actually keep in 2020

Jan 2 2020, 10:27 am

We’ve just entered a brand-new decade, everyone! If there was ever a time to embark on a seriously fresh start, it’s now. After all, this is the kind of chance that only comes around once every ten years.

In years past, you might have made NYE resolutions to join a new gym, eat healthier, or kick a bad habit. But what better major resolution to make than to take control of your finances, for good?

We paired up with Paytm to share with you the smartest (and easiest) tips to take control of your money in 2020.

Start saving, small

Making drip coffee/Pexels

The biggest mistake people make when setting resolutions is getting ahead of themselves. If the last time you were debt-free was sometime around Y2K, the idea that you’ll be free and clear by the time February rolls around probably isn’t realistic.

Instead, start small. One way you can slowly make headway with your finances is to cut down on small frequent purchases, which end up adding up in the long run.

The best example of this is your daily coffee. We know — store-bought coffee is the highlight of our mornings, too. But it’s also an expensive habit, and over time, you might not even notice the difference between your fancy $5 latte and your drip coffee. Plus, your wallet will thank you.

Set up an auto-savings plan

Here’s the thing with money. When we have it, we spend it. How many times have you heard that people with higher incomes just end up buying more, not saving more?

But did you know that most banks will let you automatically move funds from your chequing to your savings account? You can set it up for a certain day each month, so each time a paycheque rolls around, you’ll have a robot with your best financial interests in mind putting it away for you.

Get on top of your bills

Bills, bills, bills. You either forget to pay them on time and end up with a dreaded late fee or procrastinate about them on purpose because you have more fun things to spend your money on (did someone say new boots?).

The best way to deal with bills is just to get them out of the way as soon as you get them. Who can remember to do that though?

With the bill payment app Paytm, you can schedule your bills to be paid in advance. Never be hit with a late fee again!

Stay in the know

Checking phone/Pexels

Think you might have a higher charge on your bill this month? Whether it’s from sending a bunch of international texts or going over your data because you tried to stream an entire season of Netflix on the bus that one time, overage fees are bound to happen from month to month.

With Paytm’s discrepancy alert you’ll find out exactly how much your bill has gone over so you’re never blind to what you’re spending.

Get rewarded

Now that you’re on your way to being smarter about money this year, the last thing you want to make sure is that your spending your money the smartest way possible. And that means making sure you’re reaping rewards.

While most people instantly associate rewards with having to spend more to get them (like credit card reward programs), that’s not the only way to get rewards.

Patym allows you to get points from merely paying off your bills (like your credit card or phone bill), so you don’t have to go out and spend even more to get rewarded — you’re simply earning by paying off a necessity. Sounds like something for nothing, if you ask us.

Stay focused

Now that you’ve decided to be super smart about your money this new year, we have one last piece of advice. And that is to make sure you stick with it!

Easier said than done, we know. But if you pick a goal, and measure your progress, you’ll keep getting more and more confident with the way you handle your money.

But at the end of the day, don’t be too hard on yourself. We’re all human after all. We won’t tell anyone if we see you buying a coffee.


Now that you have loads of hot tips on how to spend 2020 raking in the cash, the only thing left to do is pick out a new piggy bank — and sign up for the app that gives back.

Visit the Patym website to learn more about how you can be smarter about how you spend your money, pay your bills, and receive rewards, well into the new year.