Blog Homepage > 5 Brilliant New Yearâs Resolutions to Save Money
January is the perfect time to get your finances in order and commit to improving your spending habits. We’ve put together a list of money saving New Year’s resolutions to make sure 2015 is a good one!
1. Start chipping away at your debts
Freeing yourself from debt feels great. Of course, this resolution is relative to how much debt you’re in, the debt you owe, and your income. Regardless, setting realistic financial goals makes loads of sense.
Credit card debts should be tackled first, because of their very high interest rates. Miss a couple of payments and you suddenly owe a whole new chunk of change. If you don’t pay in plastic, consider tackling small debts or paying off contracts for phones or subscriptions. Start small and build from there! You’ll be surprised how good you’ll feel after tackling a few of your smaller debts.
2. Start a rainy day fund
You’ve heard the expression ‘put it away for a rainy day’ a million times—but how many people actually have a rainy day fund? The minority, we reckon. Having money tucked away in case of an emergency is always good and makes for a great New Year’s resolution.
3. Quit any bad habits
The majority of cigarettes snuck up to €10 a pack in the recent budget, so cutting them out is a money saving New Year’s resolution worth tackling. Difficult as quitting may be, it’s a great challenge and if you pull it off, you’ll have extra cash and a healthier body to boot.
4. Make a budget and stick to it
Here are our six tips to planning a realistic budget:
5. Invest in your future
What this means varies from person-to-person, but one of the most important New Year’s resolutions is to consider your future. It’ll be different depending on the stage of life you’re at, but consider investing in a Savings Plan, starting a pension fund, or even just resolve to set aside money into a credit union account.