Is 2007 the year that you will finally get your budget under control? Have you thought about being a little (or a lot) more frugal this next year? Here are a few ideas for frugal New Year’s resolutions, or goals for saving money in 2007:
Set Some No-Spend days
In a previous article, I explained that no-spend days are the days that you do not make any purchases. Generally, if you can discipline yourself to limiting the amount of times that you go to the store, the less money you will spend overall. Each time you go to the store there is a new opportunity for impulse buying. Try to limit yourself to making purchases only once or twice each week.
Budget
If you do not currently live within a budget, a new year is the perfect time to start. A budget is not to keep you from buying what you want. Instead, it is a tool to control your spending so you can make purchases intelligently. Budgets are empowering! They help you to spend less in certain areas so that you can afford to get the things that you want in a disciplined manner. Check out these articles for tips on how to get started:
If you do already work within a budget, perhaps you might like the challenge of scaling it down a bit to leave money to put in your savings account or to pay off debt.
Get Out of Debt
Determine that this will be the year that you get control of your debt. Decide how much money you plan to set aside each month or each paycheck and stick to your goals. Find some way to chart your progress so you are accountable to yourself.
Plan Your Meals
If you find yourself cringing when someone asks the question, “What’s for dinner,” then you may want to make a goal to start some meal planning. You will save a lot of sanity and money if you decide which meals you will be making for a week or two at a time, then make a grocery list and stick to it.
Are there any other goals you have in order to save money for next year?
You may also like to check out the article, My Frugal New Year Resolutions by Mary Ann.