Litter Man l December 30, 2009 l You spent the last of your 2009 dollars ringing in the New Year; now, it’s time to evaluate how you’ll treat your wallet during 2010. The start of a new year is the perfect time to admit to bad spending habits and turn them around for good.
Making Spendster resolutions can be easy with the following tips.
1. Less equals more: Keep that spending in check, especially if you let your holiday good cheer get out of control! The less you spend, the more you’ll have to pay off that holiday credit card bill. And guess what, that applies to your spending throughout the rest of the year, too.
2. Stay away from sales: Avoid the “after-holiday” sales and New Year’s promotions! Perusing fashion Web sites and cruising the mall just leads to temptation, something Spendsters certainly don’t need more of! Keep this in mind during other seasonal spending times such as back-to-school, Halloween, and birthdays. They’ll tempt you into buying something you didn’t plan for or need.
3. Keep track: It works for your wallet and your New Year’s diet! Write down everything you buy for a couple of weeks; you might be surprised at how much you spend on vending machine snacks, movies, and going out. With everything written down and accounted for, it will be much easier to find simple ways to scale back and contribute to paying off any debt.
4. Put savings on auto-pilot: Arrange with your bank or another financial institution to have a set amount deducted from your checking account to a savings account every month. Have it withdrawn on payday, so you don’t even have a chance to spend it! It’s the easiest and fasted way to save.
5. Make “cash only” your 2010 motto: If you can’t pay for something in cash (or with money that is in your bank account), then you can’t afford it. “Cash only” is simple and easy to remember!
6. Find a buddy: Sharing your Spendster resolutions with friends and family will leave you less likely to renege on the deal. Recruit another Spendster for emotional support. Together, you can quit those bad habits for good!
