Will You Be Saving Money in 2013?

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The Year of Saving

Is it really New Year’s Eve? It’s hard to believe that 2012 is now in the rear view mirror and that 2013 is imminent. I look back at what took place this year and it makes me hopeful to see what’s going to happen in 2013. If it’s anything like this past year, then I am certain it’ll be a great year. If I am going to sound like a broken record about anything then it’s the need to be saving money and live a life that is marked by fiscal prudence. When I found this infographic, the numbers really did not surprise me as saving money is a common New Year’s resolution. As I’ll outline in a post early in the New Year, I am not a believer in New Year’s resolutions as we should be looking to live a disciplined life all the time. Although the numbers listed are for countries limited to Europe, I think the same sentiment applies to anyone reading this.

Is 2013 "the year of saving"?

Browse more data visualization.


What stood out to on this infographic? How will you be saving money this year? Do you set New Year’s resolutions?

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I'm the founder of Frugal Rules, a Dad, husband and veteran of the financial services industry. I'm passionate about helping people learn from my mistakes so that they can enjoy the freedom that comes from living frugally. I'm also a freelance writer, and regularly contribute to GoBankingRates, Investopedia, Lending Tree and more.


  • I do set New Year’s Resolutions and posted mine on Saturday. Saving money is definitely one of them. I hope to have more of an emergency fund so that I am better prepared for emergencies as well as have more flexibility with my finances. I hope to start savings funds for specific things (house, home improvements, etc.) as well.

    • John says:

      I know a lot of people set them and I’ll be discussing why they so often fail. Building up your E-Fund is a great thing to do, I know it’s helped us sleep better at night this past year. Targeted saving is also a big thing as it can help make saving for goals more attainable in my opinion.

  • Catherine says:

    Interesting! I do plan on saving money. I need to re-establish our e-fund and work towards more debt payments. Happy new year John!

  • I think this year will be the hardest year for us to save money since we got married. My wife won’t be working at all and I am thinking of changing jobs so it could be an interesting year all round.

    • John says:

      I can definitely relate to that Glen! Having all of those life changes can make saving money a more challenging thing to do. Each time we had a child we spent the year running up to it saving as much as physically possible. I don’t think it would be sustainable from a long term perspective, but made things much easier when the baby arrived.

  • Kay Lynn says:

    I saved more money in 2012 than I ever have before and I’m going to increase the amount for this year. Retirement isn’t that far off and I’m trying to beef up the reserves.

    Happy new year!

  • Jason @ WorkSaveLive says:

    Frankly I’m surprised how low the percentages are for people that want to save more money and pay off debt. These numbers indicate that people really don’t care about doing better financially. Hmm….that must mean they’re all rich and financially independent already?

    • John says:

      Sure, I was thinking the same thing myself. 😉 Seriously though, it was surprising to me as well. It got me wondering what the main causes might be to not doing either more. If it’s stagnant income or poor spending/budgeting habits. I imagine it’s probably a combination of the two.

  • I will be starting my daughters college fund, so yes I will be saving more in 2013.

  • Pauline says:

    I want to save more AND pay debt, but find making small goals easier than big resolutions I won’t keep. Happy New Year John!

    • John says:

      That’s pretty much how we are Pauline. We like to have smaller targeted goals. It allows us to have something specific to work towards which makes the rate of success significantly higher as opposed to some generic resolution. Happy New Year to you as well Pauline!

  • Michelle says:

    We plan on saving a lot of money next year. We just talked about it the other day and are thinking of new ways to save as much as possible.

  • Yes, we will definitely be saving! I am worried about the fiscal cliff though. If our taxes do go up as planned, we may be saving less.

    • John says:

      The media is really trying to do their best to get us worked up about the Fiscal Cliff. I think it’s inevitable that taxes are going to go up at some point, which will force us to be more creative in terms of finding ways to save money.

  • My new year goals are going to be posted tomorrow. I plan on saving more this year because I want to save for a down payment on a house. This is my goal and now that I have a path to get there, I think I can attain it!

  • Jennifer Lynn @ Broke-Ass Mommy says:

    Yep, still I will pocket away as much as possible. The habit is deeply ingrained in me and it now feels odd not to automatically put aside at least 30-40% of incoming cash flow. Also this year I will continue to find innovative ways to make supplemental income as a stay-at-home mom.

  • This is one of my goals as well…but it pretty much has been all last year too. It will probably be an ongoing “resolution” the rest of my life.

    • John says:

      I can relate Tonya! It’s part of the reason why I find having smaller, shorter term goals so much easier as it really can help out in the long term.

  • Mackenzie says:

    Our goals are to get our budget under control and to save more money. The beginning of the year will be a bit tough for us financially.

    Happy new Year John!

    • John says:

      Those are some great goals to have Mackenzie! It’ll be interesting to see how the beginning of the year will be for all of us. Have a Happy New Year as well Mackenzie!

  • Actually, my big money resolution for the year isn’t for saving money, but for spending it. I want to pay off my old credit card this year. I’m also going to take a stab at paying off my medical loan as well.

    • John says:

      That’s an awesome goal to have Edward! In the long run I would argue that it actually will save you money, depending on the interest rate. Regardless, it’s an awesome feeling to get debt paid off.

      • Before I started to get my life in order, I did manage to default on my credit card and am now paying a debt collector with 0% interest. The medical loan does have 8.5% interest, though. So if I can pay that off this year (5 years early), then I will save myself several hundred dollars.

        • John says:

          Glad you were able to get it turned around! I was in a very similar situation years ago and had to work with someone to get the cards paid off. They were able to get 2 of my 4 down to 0% and the other two were below 5%, which was immensely helpful in getting rid of the debt.

  • K.K. @ Living Debt Free Rocks! says:

    I set goals and don’t make resolutions. I actually want things to come to pass and not just hope that they’ll happen. I listed my 2013 goals in today’s post and they are ambitious but I’m confident we can attain them. Even if we don’t succeed 100% at every one we’ll have done much more than just wish that it could happen. Happy New Year John!

    • John says:

      We’re the same way K.K. Having something quantifiable to work towards really helps us stay on track and accomplish what we want. Happy New Year to you as well K.K.!

  • We set goals every year. Our focus will be more on paying of debt than saving money. Our goal is to pay down $17,000 of mortgage debt in 2013!

  • Boris says:

    I am having a bad few months financially. I have to save money not by choice but by necessity.

  • CreditDonkey says:

    Adding more to my savings is a constant goal. I don’ t list it as a new year resolution, in fact, I consider it a daily habit. Saving a dollar a day will bring great savings at the end of each year, right? Happy New Year!

  • in 2012, we were MUCH better with money than we have ever been before..

    my main goal for 2013 is to continue along that path, finally get out of debt, and to not fall off the wagon.

    • John says:

      It’s been awesome to watch your journey Jefferson! I remember what it felt like for me and you’ll feel such a burden lift off your shoulders.

  • Interesting graphic. What stood out for me was the fact that no one mentioned “learn more about investments or personal finance”. It’s okay to save more money, but I think at some point we have to ask ourselves what to do with it when we have it.

    • John says:

      I was waiting for someone to point that out MMD! I could not agree more, especially in light of the current rate market. One has to begin to accumulate and grow wealth to succeed in the long term.

  • I don’t necessarily believe in resolutions, but I do like to set personal and financial goals. This year one of my financial goals will be saving $12.5K. One of my personal goals is reading at least 6 books.

    • John says:

      I am the same way KK. I like to have smaller goals that are quantifiable so I have something to keep myself accountable to. Good luck with your goals!

  • Lisa @ Thriftability says:

    Agreed: although I don’t set “resolutions”. I think that it’s a good thing to re-evaluate your current budgeting strategy, goals, earnings, debts, and desires from time to time, in order to tweak your process until everything works smoothly for you. This year we are going with a re-vamped strategy and simplified goals. Budgeting doesn’t have to be difficult, but it does take some planning. Great post!

  • David says:

    Hi John,
    Some people believe in New Year’s resolutions. Some don’t. yet, you are right.
    Just like in your previous post, it is matter of controlling your spending. Perhaps, this is the start of modest savings for this year.

  • Julie says:

    It will be interesting to see this same info graphic with the “actuals” for 2013.

  • When we were first married, we saved $10,000 a year out of a gross income of $25,000. I think that was pretty good! As we added children, 4 in all, we still saved an average of $10,000 a year even though our gross income went up. We kept our same standard of living, but kids cost! Once they went to college almost all our savings were used up. After the last one finished college we were able to save once again. So I think how much a person can save is often affected by your stage in life. Now we are retired and have a decent amount in our retirement account. We learned to be careful with our money all those years and now our standard of living has gotten higher. We still don’t waste money and like to get the best value for our money. Old habits and all that!

  • New Year’s…oh boy, time flies! Wow 40% of people say they will make a resolution to be better with money. That probably means half of them won’t follow through…just like those resolutions to diet and exercise, etc.

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