We’re seventeen days into the New Year and while some people have already broken their New Year’s resolution, some people are still trying to figure out how they want to improve themselves in 2014. Whether you want to be smarter, more active, of more compassionate, you can set goals at this time to improve yourself, and come to appreciate your capacities even more than you otherwise do. One of the best resolutions you can make this winter is a resolution to save more money.
Having a buffer of savings is extremely helpful for everyone. This can come in handy when emergency strikes, you find something you just have to have, or to build interest and increase your funds for the future. By saving money regularly, you will be able to count on having something to fall back on if you ever find yourself out of work.
Saving More in 2014
As you begin saving this year, you may feel like there isn’t much you can do about it. But, in reality, there are many ways to save money each year, and by taking advantage of opportunities to save, you will find yourself much more financially secure, and more able to care for yourself, and anyone who is depending on you.
One of the best things you can do to help yourself save more effectively is to set up automatic transfers from your checking account to your savings account. This will allow you to make deposits into your savings account without having to lift a finger. And, by doing this, you will be able to maximize your savings, while minimizing the possibility to forget to save.
Loose Change Adds Up
Another important saving option is as simple as merely saving the change from purchases you make. By saving these small amounts, you will find yourself adding money to your savings account quickly without noticing a lack in your other account. Change will start small, but as you consistently save, you will see it adding up to what can be significant amount.
Invest For the Future
Another great saving tool is investment. Whether you take out a CD, which has low risk but low rewards, or invest in a more substantial and risky endeavor, by investing, you will be able to make your savings work for you. Especially in riskier investments, you should make sure to only put out an amount you feel relatively comfortable losing.
Also, as you look to invest, it is a good idea to consult with a financial professional so you can put your money to the best possible use. By consulting carefully, you will be able to make informed financial decisions that will affect your financial health positively and help you to become even more successful, by expanding your portfolio and increasing your buffer.
So, this New Year, think about making your financial security your resolution. Through this simple step, you will be able to increase your security and provide yourself with a buffer of protection for both emergencies and any time you want to splurge. Take this step this year, and you will find your financial state much more secure.