A new year is an opportunity for change. That’s why it is so common for people to make new resolutions on New Year’s Eve that lead to better health, greater happiness and more financial success. Whether you can keep your New Year’s resolutions usually has a lot to do with how long you’ve been considering a change and whether or not you have a game plan.
Make Plan to Save Money
If you’re planning on making this year the one where you finally get control of your habit of overspending and pay down any old debts that you owe, you’re going to need all the advice you can get.
After all, the more ways that you can save, the less time it will take for you to reach your financial goals. Rather than merely trying to spend less while enjoying old habits, try implementing the following suggestions:
Make a Budget
Just like counting calories when you’re trying to lose weight, keeping track and paying close attention to what you’re actually doing can change your entire view of the situation. A spending budget doesn’t only include balancing the money that you make with the money that you spend; it should be broken down into separate spending amounts for
- Groceries and Eating Out
- Toiletries and Cosmetics
or anything else that is important in your life that requires monthly spending. It can also help to keep an emergency fund for unexpected expenses.
Earn Extra with Online Contests
If you submit to contests online, you can win prizes that supplement your income so that you’ll end up with extra money each month to spend on whatever you like. If you use a website like Contest Scoop, you can find an assortment of online contests all in one place, which makes it easy to enter many at once.
Eat at Home
When you eat out at restaurants or have prepared food delivered to your home, you’ll spend a substantially larger amount than if you cook at home. A good way to start is by using up leftovers that have been sitting in your fridge or pantry for ages.
When budgeting for your groceries, you can also choose less expensive meal options to decrease your spending even further. If you save enough, you might consider rewarding yourself with one restaurant a month.
Save on Power Consumption
If you’re not paying attention to your power bill, you could be spending a lot more than you realize. Even if you live in a condo or apartment, you can easily lower your monthly power bill by
- Lowering the Thermostat While You Sleep or Leave Home
- Unplugging Electronics When Not in Use
- Keep the Refrigerator and Freezer Closed
- Turn Off Lights When You Don’t Need Them
You may need to save money now because you aren’t very wealthy, but changing your habits now to ensure that you don’t spend money needlessly will help you keep from wasting money even when you get wealthy. That said if you’re eager to make more money now, try out a few online contests today.