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New Years Resolutions – How Much Money Will You Save This Year?

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Ruth Brown
Ruth Brown

Although I’m not really one for New Years resolutions, it does seem an appropriate time to ask “Do I want to be in a better position financially this time next year?”   If your answer is yes, chances are that will mean making some better/different choices.    What are you prepared to do to make it happen?  Here are some tips to help you succeed.

  1. Make a single resolution – the more resolutions you make, the less likely you are to act on any of them.
  2. Make it small – if you set a massive goal for yourself and fail, the less likely you are to make another or to try again.   Whereas once you’ve successfully achieved your small goal, you’ll be much more confident and motivated to set another.
  3. Set a deadline – Your deadline should be no longer than a month (for the same reason your goal should be small and doable).

By the way, the reason I’m not one for New Years resolutions is - why wait?  If you want to make a change, don’t wait for a specific date or day (that’s called procrastination) – do it now.  Here are 6 tips to help you save money in the first half of 2009:

  1. January:  Put $2 a day in a money box for 31 days.
  2. February:  Light Police.  Fine members of the household $1 each time they leave a light switched on whilst not in the room.  The fines will help pay the bill and hopefully the new habit will also lower it.
  3. March:  Just for a month, no driving to the corner shop – if it’s in walking distance - walk!
  4. April:  Find 5 unwanted household items a day (or one item per family member per day) to put in the garage sale you’re having at the end of the month.  Don’t forget your ad in the paper!
  5. May:  No Credit Card Month.   Buy it with cash or don’t buy it.
  6. June:   Slow-cooker month – get out your crock pot and cook up a casseroling storm – freeze and store as many meals as possible. (Buy your meat in bulk or make sure it’s on special!)

Hopefully, If it’s worth doing for 30 days it’ll be worth doing for 365.   Of course, everyone is different, so not all (or maybe none) of these suggestions may be for you.  But for those who are new to frugal living, they are small, very doable goals that will prepare you to tackle the bigger things.

Remember, a month from now you can either be in exactly the same position you are today, OR a better one.  It’s your choice.  Happy 2009!

How to save money and live more frugally

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