Frugal New Year’s Resolutions

Mon, 24/09/2012 - 15:41 -- nick

‘Tis the time of year for New Year’s resolutions… Why not make yours a frugal one?

Just imagine how great it’ll feel, this time next year, to be *that much closer* to your financial goals. All you have to do is make this year the year you get serious about saving money!

Here’s ten New Year’s resolutions with a frugal twist:

1. Resolve to pay off your debt (or at least a percentage of it) by year’s end.

2. Resolve to build up an emergency fund of $ {insert amount here}.

3. Resolve to use only cash for your purchases.

4. Resolve to pay more than the minimum balance on your credit cards.

5. Resolve to pay extra on your mortgage each month.

6. Resolve to eliminate (or drastically limit) non-essential purchases.

7. Resolve to make a budget, and stick to it.

8. Resolve to not buy any new clothes (or electronics, or games, or books) for the entire year.

9. Resolve to stay out of shops and malls for a year.

10. Resolve to write down every penny you spend for the entire year.

Making such a resolution, and following through with it, could be an important turning point in your financial life—and will help you develop strong money-saving habits that’ll serve you well for years to come!

Happy New Year!

Via Frugillionaire