1. Losing weight

  2. Get organized

  3. Spend less, save more

52weekmoneychallenge

Mix up the weeks to make it easier

Any idea what this is a list of? It’s the top 3 New Year’s resolutions of 2014. Any idea of the percent of people who are successful in achieving their resolution? 8%. That’s right, a measly 8%. Why is it so hard for people to keep their resolutions? What stops us from not doing the things we want to do. Well, the reasons for failure are plentiful, but the reasons for success can be just as abundant.

Let’s concentrate on # 3 for right now and figure out how we can save some cash without changing the way we live.

Idea #1:

Have you checked out Pinterest lately? There are hundreds, if not thousands of boards, related to saving money. The picture to the right is called the 52 week money challenge. I’m sure it’s called other things too. Google it and you’ll find a million pictures. Anyway, you basically save one dollar for every year of the week we enter. So, the first week of the year you simple have to save $1. However, it can start to get tricky as we get to the last quarter of the year. It might be tough to put away $202.00 next December. Our suggestion is to switch up the weeks. Put in the larger dollar amounts when you have it. Maybe you get a bonus? Tax return? Maybe a certain time of the year is quieter than another. This way, when you are more strapped for cash, you can only put in a dollar or three and still stay on track. Great way to put aside $1378 with just a little bit of effort.

Idea #2:

Pay yourself first. We all have monthly bills. We all pay our monthly bills, right? Well, have you ever considered your savings account as a monthly bill? If you answered no—you should! Your savings account is something that should be growing—not staying the same or decreasing.  Every time you sit down to make a payment—whether it be online or writing a check—you should put some money in your savings account. Even if it is only $10 or $20. It all matters. It all adds up. By the end of the year, you will be shocked at how much you can save without even thinking about it.

Idea #3:

Are trying to save for a larger purchase? Maybe you are dreaming of a new car of house in the near future. In that case, you might have to make a little more of an effort to put money aside. One of the best ways financial advisors will encourage you to save money is to put it away before you even see it. Many employers and/or banks offer services that allow you to automatically deposit your paycheck into different accounts without you ever having to transfer funds. Credit unions and banks often allow you to open a few separate savings accounts and title them whatever you want. New home fund, vacation savings, renovation savings, new car, etc. etc. The options are endless. In this case, the world of automation can be our friend.

There are thousands of money saving tips available on the internet. If you’re new to the working world or just new to the savings world; start small. Give yourself a chance to get used to the idea of saving money. Set up a separate account and have money deposited directly into it. Put a jar in your closet and randomly put a few dollars in every few days or every week. At the end of the year count how much you saved, give yourself a pat on the back and treat yourself to an ice cream… You deserve it!

What do you think of these ideas? Do you have any tips and tricks that have helped you save money? Let us know by commenting below.