A new year is the perfect opportunity to get a fresh start and organize your finances. While you may have given up on resolutions in the past, Sunset Bank believes that, this year, you will be able to stick to one or more of these easy ways to cut spending.
To start 2015 on the right foot, commit to making one or two of these money-saving resolutions:
Start with a budget – If you don’t use a budget now, it is time to start one. If you already budget, take this opportunity to improve on a good habit! To get started, track all your spending for a week. Write down everything you paid using a credit card, debit card, cash or check. Keeping a record of your spending will help you track where all your money goes. After you pinpoint your spending, you can determine where cuts should be made.
Own up to splurges – We all have weaknesses: a fancy cup of coffee in the morning, expedited shipping, or going out for lunch. We aren’t saying you need to cut these splurges out completely, but please don’t leave them out of your budget! Be honest and own up to your splurges.
Pack a lunch one day a week –The extra time it takes to brown-bag a lunch thwarts many of us so we don’t bother and simply hit the drive thru again. Block off extra time in your schedule for meal planning, shopping and preparation. Ease yourself into the routine by bringing one lunch from home every week. Last night’s leftovers or a frozen dinner are an easy place to start. If the extra savings make you want to pack a lunch more often, that’s a bonus!
Go generic on one name-brand item – We aren’t saying you need to stop buying name-brand products altogether. Again, ease yourself into it. Pick one thing you can switch over to generic. Try something basic like your shampoo or a household cleaner. If you notice a difference in performance, you can always switch back to your old brand.
The first step toward saving money is finding out what you spend. An honest budget will help you track spending and find places to save. For help setting up a checking or savings account to manage your money, speak with an expert at Sunset Bank. Our friendly staff is always ready to help!