12 Steps To Saving More in the New Year

1. Set up Automatic Deposits to your Savings Account

Depositing money in the bank is one of the prudent efforts that a person can make during his life-time. As it goes, the first expense should be saving, it is of prime importance to save your money. Setting up automatic deposits from your checking account to your savings account makes saving money easier because you no longer have to manually transfer the money.

2. Buy gold

Buying gold is a wise investment. The value of gold keeps increasing and after 10 years of your purchase you could see a huge figure.

3. Invest in land

Just like gold, the value of land also increases with age. A solid investment that stands for many years is something that is really necessary.

4. Don’t be a spend-thrift

The first thought that comes to mind while saving is not to be a spend thrift. It seems easier said than done but still why don’t we practice spending less in our day-to-day life? For example, instead of opting for hotel food, we can manage to cook by ourselves. It only asks for our briskness.

5. Make home-made food items during the holiday season

With the rising prices of every food item in a day-to-day basis, it is really wise to make home-made food items during the holiday season. In this way, we can save a considerable amount and can also instill the habit of saving in children.

6. Buy a piggy-bank for your children

Savings is one of the wise investments that one can make and in this regard it is indeed advisable to purchase a piggy bank and giving it to your children.

7. Maintain a budget

At the end of the month you see that you’re going to be short on next month’s mortgage. You are flabbergasted. Start the New Year off by setting up and maintaining a budget so that you can see where your money is going and how to make it work better for you.

8. Don’t be fooled by marketing tactics

When you go shopping, the shop owners and employees will talk in such a way that you miss something great in your life if you don’t buy that product. Do not be fooled by their marketing tactics. Just be clear in what you want so that you have a wise, frugal shopping experience.

9. Write down what you want to buy before shopping

Now that you had planned for shopping, there is no stopping you. Isn’t it a better idea to write down what you want to buy on a piece of paper so that you stick to that only while shopping? This can help you save lot of your money.

10. Don’t borrow

Do not borrow money, STAY AWAY FROM PAYDAY LOANS!!!

11. Avoid usage of credit cards

Credit cards mostly only tempt you to spend more. Then you end up paying much more for the items bought via credit. Now this is not true with all, but the majority of us, it is a big a factor in our debt being so high.

12. Plan your work, work your plan

As the saying goes, it is not only important to plan your work but it is equally important to work out your plan. For example, in the context of saving money, you can make sure that you write a document of what you are going to buy at the start of the month and later work it out in a systematic manner.

Become a