Spend Smart and Save More in 2014

| December 16, 2013 | 0 Comments


The New Year is approaching, and if 2013 was any indication of how it will play out financially, 2014 may be looking up for some.  But, if you’re someone who still may be having some financial troubles, it’s a great time to make some money-saving resolutions that won’t break your back and will keep you from breaking the bank.

If you’ve ever made a personal or health related New Year’s resolution, you’ll notice a large increase in memberships to gyms.  What you often don’t see, however, are increases in your savings.  Here’s a few ways to change that.

Make a food budget

A lot of people have financial troubles because of one of the things they need daily – food.  The obvious solution would be to eat cheap meals if you’re in a pinch, but this usually leads to fast food, which is unhealthy and more expensive than you think.  So often people avoid grocery shopping because of the one-time high price of a load of groceries.  With the right recipes, however, you can eat healthily and cheaply every day.  One way to start this good habit is to set aside a set amount of money each week for groceries.  Stick to that amount, and build up a healthy pantry.  Once the essentials are bought, you can lower that budget to include only perishables for the week.  You can successfully save your money and health by following this method.

Avoid frivolous spending

This may seem obvious, but it is often overlooked.  The big question here is, “Do I need that?”  A helpful tip is, whenever you find that you want to buy something, wait a week.  If you still want or need it, go ahead and buy it.  What you’re avoiding here is impulse buying, which is the cause of a lot of money problems for people.

Save the Earth

This resolution can go two ways.  For one, going partially green helps the environment, and in some cases such as solar energy, can get you tax breaks.  On the other hand, conserving energy use and recycling/reusing helps you save money directly.  Make it a point to use less energy at home.  Use less electricity on lighting, and unplug unused appliances.  Recycle what you can and reuse what is available.  Save the Earth, and save some dollars.

While these aren’t the only resolutions you can make to help out financially in 2014, they’re certainly ways that can help.  It’s a New Year, and let’s make it a good one.

This guest post was written by Flynn Zaiger. As a business professional in the New Orleans area, he’s taken a particular interest in finding the most business friendly of the Metairie Banks. The views expressed herein are those of the author and not necessarily those of any financial institution or bank in New Orleans. This article is intended to provide those reading it with information about matters of current interest.  It should not be construed as legal or financial advice concerning a specific topic and should not be acted upon without contacting the appropriate professionals.

Category: Personal Finance

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