Save for the Future

Saving Money in the New Year

As 2017 begins, you may be thinking about what you want to accomplish this year. If saving money is on your list, we think that is a great idea. However, saving money in the New Year is easier than it sounds. If you’ve already started your savings quest, but are looking for ways to give your savings account a boost, here are a few tips.

Saving Money in the New Year

  • Save unexpected money. If you get an extra bonus at work or come into some unexpected cash, use the rule of thirds. Put one-third towards your debt, put one-third into savings, and use the last third to pay for something you want now.
  • Ditch your plastic. If you find you don’t have enough willpower to avoid spur-of-the-moment purchases while at the store, switch to paying with cash. Only bring as much as you want to spend that day and leave your cards at home. You’ll only be able to spend a finite amount.
  • Pay for your future. Saving for retirement is something everyone should be doing. Experts recommend putting at least 6% of your income towards retirement. If your company offers a retirement plan program, enroll as soon as you can. They might even offer matching contributions.

What are your favorite ways to save money?

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