Saving money is one of the best things you can do each year to ensure you have money to cover any hidden expenses, some extra money to travel and the required savings to move forward with your financial goals. Each year many of us set New Years resolutions, and by the time the end of February rolls around, many of us have lost the very important momentum required to achieve our goals. With that in mind, I wanted to create these top money saving tips for 2017 to help you achieve some serious savings this year.
1. Reduce Your Food Expenses
One of the biggest expenses we have each week is our food bill. Many of us make this an even bigger expense by buying coffees, drinks and eating outside of the home. There’s nothing wrong with this and it’s important to be social and enjoy experiences, it’s a good idea to track all of these expenses for at least a week so you can see how much you’re really spending – you might be surprised.
Bringing meals from home, drinking instant coffee or French press coffee in the office instead of those pricey lattes, are all simple ways you can cut costs.. A few pounds here and there may not seem like a lot, but it can add up very quickly.
2. Get a 2017 Money Saving Plan
When I was in High School my teacher had a quote on his wall, it said “If you fail to plan, you’re planning to fail” – this was of course in reference to school exams, but it holds true for your financial health. If you do not plan your money and financial goals for the year, you may find yourself with little spare money, and perhaps even large amounts of debt. The team at My Voucher Codes have made a helpful money saving plan to fast track your financial goals.
3. Open Up a Dedicated Savings Account
I find that having a specific savings account for my financial goal is really helpful. Right now I’m saving up to buy an apartment, so one of my accounts is named Apartment Fund. When I log on each week to manage my money and finances, I see this fund and I feel more inspired to put extra money in here each week. I also have a certain kind of account that penalises me from withdrawing – if I don’t make any withdraws I get special bonuses each month. The first withdrawal is free, but any additional withdrawals cost me, so it really deters me from taking out any money.
Whatever your goals for 2017, chances are setting aside some more money and reducing your overall expenses will ensure that 2017 is a great year for you. Take these tips on board to make your savings snowball quickly this year. Happy saving!