3 Guaranteed Ways to Save Money in 2014
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!
Related: If you’re looking for a great way to track your spending and manage your finances then open an account with Personal Capital. I use Personal Capital myself and the best thing about it is that it’s completely free!
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 do this all through my Discover Bank online savings account as they have one of the best rates available.
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.
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 courtesy of: Daniel Moyle