How to Save Money in the New Year

Use Coupons Coupons can save you a significant amount of money during the year. You can find coupons for almost any product or store/restaurant in a multitude of locations such as the Sunday paper, printable on-line coupons, magazines, email coupons sent to when you register with a manufacture or restaurant, coupon dispensers (in-stores), and coupon swap boxes in the library or workplace just to name a few places. You can definitely save well over $1,000 by using coupons on an every basis.

Go Green You can save money and the environment at the same time by practicing “green” routines. Some examples are conserving energy or water, walking instead of driving, using Reusable Bags (my supermarket pays 5 cents per bag), and recycle cans.

Savings Account If you don’t already have a savings account, you should open one. There are a variety of savings accounts with different interest rates and rules. Shop around to find a savings account which will offer you a high interest rate and also allow you to access the account without a hassle or fees. A savings account is a risk-free, easy method to earn money. You can directly deposit your paychecks to your savings account and then transfer the money you need to pay your bills to your checking account. By doing this, you will be more aware of the amount of money you are spending and earn interest in between bill payments.

Create a Budget The main goal of a budget is to prevent you from overspending so figure out a budget which works for you. Ideally a budget will help you to achieve your short and long-term finical goals.

Create Realistic and Concrete Savings Goals The main reason people are unable to accomplish their goals is due to the fact that the goals the people created were unrealistic and/or intangible. When you are creating goals you should make sure to include specific numbers and timelines with measurable quantities. You should also have realistic expectations. Start out with achievable, short term goals which you can later turn into long-term goals. For example, “I am going to deposit $5 into my savings account every Friday”