Christmas fun is over and New year is just around the corner. It's the right time to make some resolutions to make some positive changes in the coming year. But weight loss and meditations are very stereotyped resolutions. So, this time, try to make some useful and productive resolutions to bring positive changes in your life.
Analyze your present year
First of all, if you have been following some strategies to save money before this year too, then you need to analyze those carefully. You will also be required to analyze your budget so that you can make the necessary changes as per the situation demand.
Some pre-new year resolutions
If you would like to save some more money and stay tension-free, you'll be required to find out some prompt strategies for the coming year such as:
1. Stick to a frugal budget
If you're the one paying all the household bills in a month, sticking to a frugal budget is a must do job for coming year. A frugal budget is slightly different from a normal budget where you strictly stay away from all kind of unnecessary expenses. Your entertainment costs, eating outs and subscribing fees for magazines that you hardly read, should be done away with. Keep a track on your monthly income and expenses so that you can easily monitor your savings.
2. Eat out less
This is one of most useful pre-new year resolution everyone should make for the coming year. If you frequently eat at a lavish restaurants with your family, then you can control your spending. If your kids get bored eating the same dish, then try to get new recipes to change their taste. You can get variety of recipes from websites. Search online, get your kids favorite recipes and give it a shot. Try at least one new recipe every week to serve new palate for your family.
3. Stop using your credit cards
If you don't want to worry about your credit card outstanding bills anymore, then stop using your credit cards in future. If you keep on incurring credit card debts, no amount of budgeting efforts will help you out. While you go out for shopping, make sure you carry cash and leave all your credit cards at home. Stop shopping as soon as you exhaust your cash and do not resort to credit cards for purchasing the things that seem to be unattainable with cash.
4. Boost your income
Try to increase your income level to stay more financially secured. If your work place will pay for overtime, then don't miss the chance to earn some extra money. Thus you can catch your boss's attention too. Who says, you can get promotion in coming year. Above all, you can start part time job as a freelancer to earn some extra bucks. Search online to get more information.
5. Teach your kids about value of money
May be your kids are too young to understand the value of money. But, it is also truth that there is no age to learn the value of money. Try to give them lessons on money. As example, if your kids ask you for a pricey gift, tell them how a pricey gift is waste of money and other gift is also a fun.
6. Contribute money in your 401 k account
Do start saving for your golden age. Every employer is entitled to save a part of their monthly income in the 401k account. This is the best way to save for retirement. Though it is not wise to withdraw money before the retirement age, yet you can sometimes do so in order to meet some financial need.
7. Open an online savings account
The best way to save money is by creating a savings account with a reputable bank. The banks that do not operate online do not often offer high interest rates on your accounts like the online banks. They will also allow you to withdraw money without having to pay any penalty fee. You can get quick and positive results on your personal finances by opening a savings account online.
The bottom line
There are so many things we can do for our betterment. But there is difference between thinking and implementation. Don't just think to save money. Start today with your resolutions to spend a smart yet less stressful financial year. May be you can implement 2 out of the above 7 points. That's fine! Start slowly and gradually move to the more successful financial year than present.