3 Guaranteed Ways to Save Money in 2014

save money in 2014

Please welcome back our usual Tuesday contributor, Cat from Budget Blonde.

How is it possible that it’s 2014 already? Seriously, didn’t we just write posts like this for 2013? I can’t believe how fast this year flew by, and it’s truly amazing how much can change in just a short amount of time.

I know for me, 2014 will be a year of massive adjustment. Not only am I back in the United States for good and still adjusting to the madness that it brings, but I’ll be a mom to two kids very soon. I’m also now officially 100% self-employed which is super awesome and also a bit intimidating all the same time. It doesn’t seem possible that three years ago, I was doing something completely different with my life and yet here I am now!

With all this in mind and all the big changes going on in my life, I’m more focused than ever to keep. saving. money. Seriously, I am ready to rock it in 2014 or at least make it so that I break even and don’t go into debt because who knows what other surprises are around the corner. If you are looking to hop on the bandwagon and save money as well, here are three guaranteed ways that you can do so in 2014.

1. Save Money in 2014 With Automation

Not everyone is fan of automating finances, but I absolutely love it. I always remember to check my automatic payments at the end of each month to make sure they are correct, and so far, I haven’t had any problems. Of course, you are guaranteed to save money if you automate your savings as well. Set a certain amount to come out of your checking account a day or two after your paycheck hits, and you will be surprised at how easily it adds up. Everyone thinks they will save at the end of each month, but it never happens, so do it in the beginning!


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2. Become Goal Oriented

I just can’t save in a “general savings fund.” That doesn’t work for me. I don’t know why, but I’m glad I figured out early on that it doesn’t motivate me to blindly add money into a savings account. It wasn’t until I started actually labeling various savings accounts that my saving totals started to pick up steam. I have separate funds for emergencies, the babies, moving, and vacations. If I have to take money out of savings, I really think twice before taking a vacation away from myself. This system has been a guaranteed way for me to save, so I hope it helps you too.

For a savings account that pays very competitive rates in today’s horrible rate climate, I recommend Discover Bank to maximize your savings return.

3. Consolidate Everything

It’s amazing how much money we waste. Raise your hand if you’ve had to go out and buy a hammer or screwdriver because you couldn’t find the one you have (*sheepishly raises hand*). Or, maybe you have several loans to pay back but the interest rates are all over the place. Consolidating our homes, our retirement accounts, and our belongings is a guaranteed way to make sure we don’t waste money in 2014 so make 2014 the year you get organized. I know I am!

How are you planning to save money in 2014? What new techniques or strategies are you trying to ensure you meet your saving goals?

Photo Credit: Daniel Moyle

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About the author:

Catherine Alford is a personal finance freelance writer and blogger. She received a B.A. from The College of William and Mary and an M.A. from Virginia Tech. When she is not writing for other websites on all topics frugal and fabulous, she enjoys sharing her adventures on her blog, www.BudgetBlonde.com. You can connect via Twitter / Facebook.

50 comments on “3 Guaranteed Ways to Save Money in 2014

  1. I can see how the automated withdrawal could be helpful in saving…..as long as you can force yourself to keep your hands off the money taken out. My problem has never been putting the money in a savings account….it’s been keeping myself from taking it back out. :)

  2. We have things like hammers and screwdrivers pretty organized in one place, but I am awful about forgetting which health and beauty products I have socked away. I am guilty of buying lotion or soap and then finding a brand new pack hiding in the bottom of a drawer. Maybe I’ll put my 6 year old on organizing it all. She is going through a phase where all the like things have to be together.
    Kim@Eyesonthedollar recently posted..Legal Marijuana in Colorado: What’s It Cost To Get Stoned?My Profile

  3. We’re starting off the year by spending as little as possible at the grocery store this month. Except for dairy and really good deals on meat, we’re eating out of our freezer and cupboards for the month. It’ll help us get things off the shelves before they expire and hopefully I can clean the fridge and freezer because they’ll be practically empty.
    Rebecca @ Stapler Confessions recently posted..7 Ways Renters Can Reduce Heating CostsMy Profile

  4. I really like the idea of labeling savings accounts for different funds. I agree that I don’t like taking money out of my general account, but if it was broken up, I’d have an easier time with it. I’ll be looking into that soon as I’m switching banks anyway! My savings and payments are all automated right now; it makes things easier.
    E.M. recently posted..What’s Your Spending Threshold?My Profile

  5. I don’t automate it but I transfer money right away when I get my paycheck. Since the money is already gone, there is no motivation to touch it or use it in some irresponsible way. I realize automation would save me time but it creates an extra hurdle if I ever want to close a bank account. By doing it myself, I never lose that restriction.
    Micro recently posted..2013 spending in review and 2014 budgetMy Profile

  6. Great tips!

    By consolidating everything into one saving, there will be both extra cash, and less time wasted going out shopping for materials. Also, automating my finances is not really my thing, but I can handle it.
    David recently posted..China’s Rise in 2014My Profile

  7. Hi Cat, for starters I am planning on limiting my impulse buys that is where my budget is losing legitimacy. I am also going to pay myself first, rather than the bills. Track every penny, analyze my spending and of course, try to increase my income. That is the plan, and I’m sticking to it!
    Jim recently posted..It Pays To Pimp PorkMy Profile

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