Top New Year’s Resolutions for Saving Money

by | Jan 4, 2017 | Financial Services

It happens every year, people spend too much at Christmas, then end up having to get loans to get through the rest of the month until they get paid again. Though the best payday loans can help get you through that rough time, the New Year’s resolutions to save money in the New Year start pouring in around December 26. Read on below for some of the too New Year’s resolutions for saving money in the upcoming year.

Unexpected Windfalls

When you have an unexpected windfall, whether it’s that Christmas bonus from work, cash gifts from family, or extra cash for working late, don’t just go out and blow it. Instead, use the rule of thirds. Use one third of the money to pay down any debt that you owe, put aside one third for the future, and use the final third to buy something for your home or yourself that you have been wanting to buy. It is said, that if you follow this simple rule, your debt will soon shrink, your savings will grow, and you will still be able to buy the things that you want.

Keep an Emergency Stash

If you have been living on your own for any length of time, you know that something always happens to blow your monthly budget. Whether it’s the car breaking down or someone getting sick and being unable to work, something always happens. That’s why it’s so important for one of your New Year’s resolutions to be keeping an emergency stash for life’s unexpected emergencies.

These are just a couple of the New Year’s resolutions that you should make for saving money in the upcoming year.

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