How to Save Money in 2010
Author: Brad Smith
One of the cornerstones of the New Year is the resolution. This often unattainable goal designed to improve and streamline your life comes in a number of forms. One of the most common resolutions is the desire to save money. Lucky for most people, this is one of the easiest goals to accomplish due to the myriad of money-saving possibilities available, most of which require little to no effort on your part. This article will highlight some examples on how to save money this New Year and put some extra green in your wallet. I have found that one of the best ways to save money is a combination of discipline and cash. Every paycheck, withdraw a set amount of money. The amount you determine is up to you, but should be determined after all bills and savings have been sorted out. For example, once youve made necessary payments for bills, etc, withdraw $100. This money will be your fun money. It goes toward the cups of coffee, the movies, and the drinks on the weekend. Not only will this prevent you from wantonly spending money via a debit or credit card, it will help you focus on the items you truly need. Other money saving techniques can be found it doing away with those items that are no longer considered necessities. Cable television can be a huge expenditure (up to $50-100 a month depending on the package), and these savings can really add up. By getting rid of television and keeping your internet service, you can still see all the shows your crave through a variety of online outlets, and some of that money can even go toward a Netflix subscription, which can also prevent you from going out to see movies all the time. Other possible expenditures that can be eliminated can include a gym membership (take up running), fancy coffees from Starbucks( make your own!) and designer clothes (shop at thrift stores). A major aspect in saving money comes in the elimination of all debt. The best way to do this is to employ the snowball effect on all of your debts. The snowball effect works thusly: take your highest debt and pay off a set amount each month. This should be as much as possible without taking away from the minimum payments of your lowest debts. Once that is paid off, take the money that would normally be applied to that debt and apply it to the next date. Repeat this until all the debts are completely paid off. This can help you avoid racking up serious interest charges, and is considered a tried and true method to reducing and eventually eliminating debt in one of the fastest ways possible. Saving money is not a difficult task, it just requires a modicum of discipline on your part. By following these simple steps one can vault into the New Year with not only more money, but a greater understanding of oneself and whats important in ones life.About the Author:
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