It’s the start of a fresh new year and there’s no better time than now to start working on your savings!


Tip #1: Set a goal.

Saving for a vacation to your dream destination?  Have an idea of how much you want your savings account to become? Set a goal for it!  It will help you keep sight for the light at the end of the tunnel.

Tip #2: Write down your expenses and stick to them!

Put everything in categories and put a certain percentage or amount from your paycheck into each one.  Here’s the hard part: you have to stick to that amount!  Going out for a big steak dinner but only have $5 left in your “eating out” fund?  Try going for the dollar menu until the next pay day.

Tip #3: Think before making that big purchase.

Instead of making that splurge purchase, go home and sleep on it.  If you still think you need it in two days, then go get it.  We have a tendency to frown upon “on-a-whim” big purchases after a few days.  Think before you buy.

Tip #4: Pay with cash.

Pay with cash and put the coins/change in a piggy bank at the end of the day.  Not only will that piggy bank start getting heavy, but this will help you not to overspend at the store and rack up that credit card.

Tip #5: Celebrate your achieved goal!

Did you get to your savings goal?  That’s great, but don’t forget to celebrate!  Doesn’t have to be anything big, but it helps keep a positive mindset when you get to celebrate what you achieved.