Top Ten Financial new Years Resolutions to Save Money
Some of the most beneficial resolutions you could make this year concern personal finances. In this tough economic climate finances are at the forefront of everyone's mind. Concerns that there isn't enough money to go around, and that people need to pull in their money belts by saving cash every way possible, plus produce a better income to match inflation abound. There are ten top financial New Years Resolutions which are accessible to everyone, and which can make the difference between having a prosperous year to come, or one tangled in economic worries.
- Changing service providers
Sticking with the same service providers year in and year out isn't always a wise financial decision. New companies often offer incentives to attract customers into the fold. By switching to them customers can expect a far better deal than if they fail to shop around. Keeping an eye on competitors of service providers, can lead to snapping up great deals and reducing utility costs.
- Checking out banks
Sometimes it can feel like it makes sense to stay with a bank with whom you have a good history. If a bank knows you and you know them, it seems like a comfortable arrangement. However, your credit history will follow you from bank to bank, either good or bad, and swapping your custom to one which offers you the best value for money can only be beneficial to you. Some banks offer higher interest rates on savings, and incentives for new accounts, whereas others are not so hot on deals.
- Cut down on impulse spending
Did you know that for every ten minutes you loiter in a shop you're liable to spend up to $20 more than you intended to? Or that when you feel low, or are celebrating an event you're likely to over spend and splash out on goods you don't need, or even really want long term? By watching spending triggers you can avoid impulse spending and save money instead.
- Reduce payments on credit cards
Most people would agree that credit card repayments can be steep, but not many attempt to reduce interest rate payments by adopting the lowest rate card on the market they can find. It's worth juggling repayments by placing them onto one low rate interest card to save more money.
- Start saving
If you haven't got much money to save it may feel like a waste of time doing so. However, the sooner you begin saving the better off you'll be. Can you imagine how much money you'd have now if you had put a tenth of your wages into a savings account as soon as you began your working life? If you're old enough, your money pot would be large by now, and well worth having. Most people worry about how they'll manage when old age creeps upon them. Instead of worrying, why not plan ahead and make a New Years Resolution to put money aside for when you need it.
- Switch to green energy
Switching to greener energy systems isn't just about saving the planet, it's about saving money too. Natural elements such as the sun, wind and water, can all offer money saving options, when used to provide power to your home. People planning to sell their home this year, will also find doing so easier if they offer potential home buyers utilities fueled by natural, money saving resources.
- Opt for quality over quantity
A great deal of people find their homes littered with goods which are second rate because they were cheap to buy. Such items build up and become clutter which doesn't get used. A great New Years Resolution is to sell goods you don't personally value in terms of practical usefulness and from an emotional point of view, and to make money from them. By resolving only to buy quality goods in the future while cutting down on useless items, you can save money and create space in your home at the same time.
- Increase your income
Individuals can make money in many different ways to suit their lifestyle. Computer based jobs, crafts, art and home care can all offer jobs to people who wouldn't be able to earn money otherwise. At the same time, being entrepreneurial and creating your own work, or opting to work just a little longer, or in a job which pays a higher wage, is a great incentive to dust off the next rung before you on the career ladder and take a step up.
- Prioritize spending
Forgettable expensive indulgences can allow hard earned money to spill down the drain. The New Year is a good time to decide to curb spending, and to prioritize where your money goes. Buying a cafe latte each day, and a bottle of wine three times a week, can end up costing you a large amount over a whole year. Such money could be better spent in more productive ways. Think about getting your money working for you, rather than allowing it to slip through your fingers.
- Giving back
Some people like to give 10% of their income to charity as a way of giving thanks for what they have and helping others. Not everyone can afford to do this though. However, practicing the art of gratitude by giving back to society and helping others in need will align you with the law of attraction, which agrees that if you feel abundant, more abundance will surely follow.
By following the above top ten financial New Years Resolutions you can expect to see your quality of life improve, along with your satisfaction during the year ahead. By staying on top of your economic life you can gain control over finances and implement positive changes to make you financially better off.
