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Category:  Money

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New Year's Resolutions

By Nikki Willhite
www.allthingsfrugal.com

Well, it's that time of year again. Time to take stock of our lives, set some
new goals, and make those often abandoned New Year Resolutions.

If you've been reading The Pennypincher Ezine for very long, you know that one of my favorite sayings is "If you fail to plan, you plan to fail". So, why is it that New Year resolutions are so often abandoned?

Perhaps some goals are just too lofty. Others are not realistic. Sometimes we just don't want it bad enough. However most of the time it is because the goal does not have an ACTION PLAN.

For instance, if one of your goals is to lose weight next year- just saying you want to do it will probably not work. You need to have an action plan. In this case, you could resolve that for the first 3 months of the new year you will not eat anything after 8:00 in the evening.

If you do just this one thing, you will lose weight. If you are able to keep this resolve for 3 months, it will probably become a habit. Therefore, there is no need to commit yourself to a whole year, which would seem overwhelming and probably cause you to get discouraged and quit.

Most of us are going to have some kind of a financial goal for next year, whether it is to pay off bills or save money. When you set your goals, get as specific as possible.

Here are just some ideas of goals that are action plan oriented in different areas.



Food

-Plan on eating beans once a week
-Plan to eat vegetarian twice a week.
-Have a leftover meal once a week
-Have a soup meal once a week, using your leftover vegetables.
-Have breakfast once a week for dinner and make your own syrup.

Money Management

-Put out the piggy bank we've talked about. (The Return of the Piggy Bank))
-Call your bank and set up an automatic transfer from your checking account to a savings account
  each week.
-Buy a savings bond once a month.
-Call your employer and ask them to decrease your exemptions so that your paycheck will be
  smaller, forcing you to live on less money (and receive a big tax refund)

Shopping

-Attend one garage sale every month.
-Set up a coupon and rebate system.
-Buy only classic clothes that will last many years
-Set an amount with your spouse and agree that you will never exceed it when purchasing anything
  without discussing it.

Leisure

-Decide on a money saving hobby you will take up, and set the time aside to pursue it.
-Set your schedule to visit the library weekly and check out books and videos.
-Ask a friend to share babysitting a couple nights each month.

Good luck with your goals this year.
Get as specific as possible, and see the difference it makes.


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Category:  Money

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