10 Clever Ways to Save Money in the New Year

save money in 2019

By the time the Christmas season passes us by, people are ready to pull out their hair – which may contain a few extra grays after the stress of the holidays. It’s easy to let stress get the best of us, and truthfully, it’s not uncommon to feel like life is a tad unorganized. Thankfully, we get a chance to wipe the slate clean, pull our scattered lives back together, and set an ambitious goal for the coming year. For many people, that means sorting out money matters. In order to adapt a “tabula rasa,” mentality, it’s important to commence the New Year on the right financial path, with a solid budget in place, and your consumer mind in check.

The December holidays can put us in the consumer mindset, provoking the typical American to drop money on anything and everything. Before you know it, you may have racked up debt as high as Mount Everest! Here are a few tips to getting off the debt mountain and back on solid ground.

1.      Budget Build

This may seem like an obvious starting point, but it provides the foundation from which all other money matters flow. A budget’s “job” is to create a sense of financial order. Here’s a piece of advice that just might save you a spike in blood pressure: don’t attempt to draft, edit and finalize your budget in one sitting. Instead, once you’ve collected all necessary financial details (money income and outflow), break up the work into a few manageable sessions. After completing an organized budget table, closely search for places where you can either decrease debt or augment your savings goals. Don’t forget that you should be saving more than you’re spending!

2.      Home-Cooked Helpings

Going out to eat is one of the ways in which many American families spend a significant amount of money. Because money that is spent on items outside of the home is the most flexible, it is the primary category where substantial saving can take place. Preparing more home-made meals is easier said than done, mainly because of the time commitment. There are different strategies that you can use to cut down on time and money spent at the grocery store. For example, make a 10 week meal plan, and every 10 weeks, start the plan over. You won’t get tired of the meals, but it helps keep you prepared for the week ahead as well as knowing what groceries you will need well in advance.

3.      Smart Shopping

Coupons are your best friend. The mail, apps, and grocery stores’ flyers are just a few places where coupons can be found. Apps such as RetailMeNot and BradsDeals make it easy to compare prices at retail stores to guarantee that you’re getting the best buy. You’re right, comparing ticket prices for expensive items is crucial, but check for discounts on more affordable items, too.

4.      Sustainable Solution

Helping the Earth is incredibly important, but so is saving a couple bucks on your heating bill. Consider setting your thermostat just a few degrees lower this winter, especially when you’re not around. A few degrees may not seem like it would make much of a difference in your heating bill, but remember, every little bit helps.

5.      Air Leak Atrophy

Similar to the money-saver listed directly above, any air leaks in your house will contribute to an increase in your heating bill. Slowly leaking air may not be at the top of your list of things to fix in your household, but it’s an easy job that will produce a ROI.

6.      Starbucks Self-Control

“Sleep-deprived and busy, busy, busy” – we often hear these words when we ask someone how they’re doing. It’s true, Americans are busy, but we seem to rely on caffeine to replenish our energy. Caffeine isn’t the worst thing to be addicted to, but it does hit the bank account hard, especially when your coffee stop becomes a daily habit. Try cutting your coffee stops in half, or just stop on Fridays. Let that be your motivation to get you through the week.

7.      Show the Library Some Love

Rather than spending money on movies, books, or magazine subscriptions, drop by your local library to see what they have to offer. Many libraries provide free checkouts for countless books, various magazine subscriptions, and DVDs.

8.      Stop Subscriptions

Do you have random magazine or other subscriptions that you just don’t use? Save a few dollars and cancel it as soon as you can. It’s easy to bite on the “one month for free” bait, but if you forget to stop the subscription, you’ll be a quarter of the way up Mt. Everest before you realize that you don’t even read half of the magazines that arrive at your door.

9.      Exercise Economically

Naturally, exercise has a myriad of benefits, from keeping your weight in a healthy range to boosting your mental health and even improving your body’s health at the cellular level. Humans were created to move! Unfortunately, the cost of gyms and personal trainers can be outrageous. Instead, make a habit out of grabbing a friend to do an activity that doesn’t revolve around food or drinks. Try hiking, biking, taking a walk, or any other activity that gets you moving.

10.   Sidestep Shopping Online

Simply scanning your email inbox can be a slippery slope, especially if you’re one to get sale alerts from your favorite stores. Avoiding these promotions and sales can save you a lot in the long run. Using email filters, you can automatically send all of your promotion and sale emails to a special folder, limiting your temptation to see them right when they come through.

Saving money is a challenging task when everyone around you falls prey to the lure of retail. There are countless ways that you can save money in 2019, but it will take some discipline. Start with our tips and add a few of your own. Before you know it, your holiday debt will be reduced to dust and your savings account will start to grow.

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