Now that the holiday festivities are over and all the shopping is done and the presents unwrapped it may be time to make a New Year?s resolution about your personal finances. CIBC did a poll and found that Canadians have named paying down debt as their top financial priority entering into 2013. This year why not make a few changes to improve your finances. They say changes happen in small steps and many times New Year?s resolutions fail because we make goals that seem unattainable and we don?t know how to ?eat the elephant one bite at a time?. Let?s start small.
Here are some money saving tips for 2013:
v Take an inventory of your personal finance. Use a computer program or even a simple three column ledger and record all your monthly bills and your income. Get a clear picture on your spending and use the information to make up a budget that manages your spending habits.
v Shop & Wait ? If you have the impulse to buy something, wait 48 hours and see if it?s still there or if you still want it.
v Saving electricity ? When leaving your house for the evening, never leave on more than two lights as saving electricity means saving money.
v Drink coffee at home and limit the amount you spend out buying coffee. My husband and I bought a Keurig and it has saved us money on a monthly basis and you can buy a variety of flavoured coffee, tea and hot chocolate. Also bring a thermos to work for throughout the day.
v If your kids keep their marks up in school, then treat them in the off-season for vacation as it is cheaper than peak season.
v Use cruise control on the highway when you can as it improves fuel and saves money.
v Always BYO lunch to work and you will save $5 a day.
v Decide how much money you want to spend next Christmas on each person and divide by 12months and start saving money in the bank. This way when you start shopping in November and December you actually have the money in the bank instead of buying on credit. Remember you can give without having a negative checking account.
v Don?t shop for groceries on an empty stomach as you will most likely buy more than you need.
v Buy some groceries, you regularly use, in bulk when on sale.
v Work out a budget and create a shopping list based only on what you can afford. Also when you make a list it will reduce the temptation to buy items on the spur of the moment which you don?t really need.
If after trying some (or all) of these tips to save money you are still having a hard time making ends meets, then give me a call at 519-250-8060 and I can show you how you can be ?debt free in 30?.
Source: http://www.bankruptcy-windsor.com/bankruptcy/2013/01/money-savings-tips-for-the-new-year.html
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