The beginning of January is a symbolic statement of new beginnings. As we ring in the New Year, each and every year, we make promises to ourselves and the people around us about how we will be better versions of our former selves this time around. Whether it’s losing weight, quitting smoking, spending more time with friends and family, or finally taking that big trip you’ve been planning for so many years, the New Year represents hope and possibility. That is, until a few weeks or a month goes by and our promises to ourselves start to dwindle; we gave into the chocolate cravings, the pack of cigarettes, and the workload at our desk. We’re left with a faint memory of what we wished for and wonder where it fell apart.
The number one reason got New Year’s resolutions failing is lack of planning. Resolutions don’t magically come true nor do they happen over night. A clear-cut plan must be in action and implemented to come out on top of your resolution by year-end.
Saving money or planning events that cost money are at the top of people’s resolutions this year, and without a plan their family won’t get that desired Disney cruise, the newlyweds won’t have the down payment for their first home, and those of us who work paycheck to paycheck won’t be ready for the unexpected expenses that will surely come up this year.
It’s impossible not to spend the money we earn on necessities like car and mortgage payments, groceries, and basic needs. However, there are ways we can cut down on meaningless spending that eats up your budget for the luxuries or more meaningful things in life. Here are some tips:
1. Put together a weekly meal plan– this will organize you and your home by cutting down on last minute pizza delivery and take out runs. Plan a night for each week that you’re allowed take-out or a dinner at a restaurant, and stick to eating home cooked meals the rest of the week. This will save you in the long run.
2. Choose a dollar amount to deposit into a savings account each week- whether you can spare $100 or $20 per paycheck, stick something in savings that’s off limits. Another way to do it is to bank any amount of your check over a certain dollar amount. For example, if up it paycheck ends up being $1,278.20 each pay period, use $1,200 on you expenses and needs and bank he $78.20 as “extra” for savings. This technique will quickly benefit your ability to save.
3. Cut off impulse shopping- a huge culprit that cuts into our savings and overall cost of living is how we handle impulses. When you go to buy a dress for a wedding, don’t let it turn into a wardrobe overhaul or the excuse to add on shoes, jewelry, and a new purse. Make a list of what items you need on each shopping trip, and never waver regardless of the temptation.
4. Seek out discounts – whenever and wherever you can, become a savvy shopper. Whether online or in stores, use coupons or shop voucher sites (like Frugaa.com) where you can save significant amounts of money on regularly priced merchandise from major retailers around the world. Seeking out coupon codes or discounts and sales take minutes, and save you big money.
Saving money isn’t easy, and avoiding the temptations that get you off track from your resolutions are even harder. Make a plan and stick to it and enjoy a great New Year.
This is a sponsored post written by Frugaa.com. Read my disclosure policy for more.
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