2013 Financial New Years Resolutions you Should be Making
January 4, 2013 2 Comments
Every time a new year has passed, about 45% of Americans make a list of their new years resolutions. Unfortunately, only 8% say that they were actually successful. A lot of this is due to people getting busy, making unrealistic goals, or not putting enough effort into it in the first place. Many people say, “I’m going to lose weight,” however they don’t actually figure out how. Saving money is another common new years resolution. Below are some important financial new years resolutions you can make, and ways to stick to them.
1) Don’t just say you are going to save money, figure out how you are going to
We all go out to eat, buy coffee, and do lots of little things that add up. Think about what you spend your money on. If it is going out to lunch every day, cut it down to 2 days a week. It it is buying coffee before work every morning, make it at home. If it is going out to movies too often, rent this week. Many people tell you to stop buying coffee or going out to eat, but if you don’t have a problem with that it isn’t going to help you. Think about what extra thing you spend your money on, and then see how you can cut back.
2) Once you figure out your budget and what you are saving, put that money into saving at the beginning of the month
Once you have gone over your spending and decided how much you can save every month, don’t wait till the end to save it. While you may need to take some out to buy more food, gas etc. you will be much more aware that you are spending more money if you take it out, then if it is just sitting in your checking account.
3) Start Over
Don’t think about the mistakes you have made with money before, start over. If you racked up a huge credit card bill last year don’t focus on that, just focus on paying it off.
4) Use coupons and buy in bulk
While no one expects you to match the people on Extreme Couponing, snagging coupons out of your paper and printing them off online is a huge help. You are only saving 50 cents here and a dollar there, but it can add up to quite a bit every month. Another smart shopping move people do not always remember is buy in bulk when things are on sale. Now, buying 10 heads of lettuce in bulk probably won’t do you much good, but buying 10 boxes of pasta you are eventually going to eat will. Most people buy one or two, but when there is a good sale, think about buying more than that. If you have the room, stocking up can really save money.