10 New Year’s Resolutions To Save You Money

The start of a new year brings with it a mixture of excitement and curiosity at what the next 365 days have in store for us. For many, compiling a list of new year's resolutions is a way of controlling how the year will pan out. Resolutions can also help you to achieve your goals and set measurable results in place to track your progress. While resolutions may differ from person to person, the gist of it remains the same, to accomplish a task or goal by the end of the year. Simple, right?

Although many people find it fairly easy to stick to their New Year’s resolutions, others find it more challenging. For those who are looking to stick to their resolutions of saving money, you’re in luck! Here are 10 new year's resolutions to save you money so you can live your way.

  1. Resolve to Cut Unnecessary Costs
    The rule here is simple; if you do not need it, do not buy it.
  2. Outline Your Financial Goals
    Are you able to settle a few accounts and minimise debt? Can you afford to paylittle extra on your credit card? Do you want to start a fixed savings account? Ask yourself financial questions and then outline the financial goals you want to achieve, whether it’s settling your debt or saving for a new car. Detailed financial goals save you money long term.
  3. Keep an Inventory of Your Monthly Budgets
    Create a tracking system whereby you keep track of your spending each month. This will assist you in ensuring that your financial goals and obligations are met and will save you money in the future.
  4. Know Your Credit Scoring
    Know your credit score so you know where and how to improve financially. Knowing where to remedy your financial situation will save you money in the long run. Search online for “credit score” or “credit report” to find some online tools which will give you this information.
  5. Avoid Wasteful Spending
    You don’t need to go out every weekend, do you? Get comfortable with (homemade) pizza night and curl up on the couch with a good movie or a great book.
  6. Commit to Saving Money Monthly
    Tempted to eat out again, are you? Keep reminding yourself of your end goal, and how much further you’ll be from it if you do not give in to the temptation to spend. Still want to eat out? We didn’t think so either.
  7. Invest In a Great Home Insurance Policy
    Being hit by a repair bill for your home due to an unforeseen event or accident can hit your pocket hard.
  8. Assess Your Previous Financial Mistakes
    Look at where you may have gone wrong financially either the month or year before and improve on financial strategies to avoid making the same mistakes.
  9. Balance Out Your Investment Portfolio
    Decide which investments are still working for you and take stock of the ones that aren’t. Smart financial decisions start with wise investments. Another smart investment to add to your new year’s resolutions is a comprehensive and affordable car insurance policy.
  10. Have a Reliable Financial Team
    Surround yourself with financially wise people who can advise you accordingly and help you meet your financial goals.

And there you have it, 10 New Year resolutions that can save you money and give you the peace of mind you need to make solid financial decisions concerning your new year and your future!

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