Many people are throwing down New Year’s resolutions that are honestly, not going to stick. Why is that? Well the major reason is that they are far too vague and oftentimes overwhelming. One of the most common New Year’s resolutions that doesn’t stick is to save money. While this may be a very vague and daunting task, you can make it happen by following these simple tips.
Budgeting is essential if you want to track your money and it makes doing your taxes at the end of the year much more doable. Make sure you are doing your best to keep an accurate record of all your debits and credits this year and you will have a better idea on where your money is going. The fact is that you can’t know where to save if you don’t know where your money is going. That is why tracking everything is so important. There are several budgeting apps for IOS and Android that can help you track your budget this year.
Avoid Late Fees
While it may seem simple enough, there are hundreds of people out there who are paying late fees for the silliest things. Late fees on library books, credit card payments, rent, and a hundred other things can be avoided through proper planning and scheduling. With all of the modern conveniences available at our finger tips it is absurd to think that people are losing so much money just by not getting things done by deadline. Make it a habit to put things in your schedule as soon as they come up so you don’t forget. Also, know how much you’re getting charged for late fee’s as well as overdraft fees, oftentimes it can be cheaper to get a cash advance for a short period of time to avoid costly overdraft fees.
Small and Simple
You have to start somewhere and if you are looking to save, you probably should start with the simple things like going out to eat or watching movies every Saturday night. There are a lot of ways that you can save money on simple things like groceries as well. It just takes a little ingenuity and initiative to get everything started.
Get Debt Out of the Way
While it may seem like a good idea to save up for your next trip to Europe, you should probably start looking at ways to get out of debt while you are saving up. Every little bit helps and pretty soon you will see the debt slowly easing off of your shoulders.
When it comes to saving money, the best way is to simplify your life. There are a lot of things that you don’t need and there are even more things that you don’t use. Ultimately if you keep track of all these things and try and eliminate as many of them as possible from your life, you will find that you are saving much more than you thought possible in the beginning.
Make sure that you are taking care of your finances by following these simple tasks. It may seem like a lot of work but when you take it one step at a time, you will find that you are much more capable of reaching your financial goals in the end.