New Year Money Saving Resolutions

We all know someone who sets an unrealistic resolution for the New Year, and chances are these resolutions will soon be forgotten. If you’re making your own resolutions, why not focus your efforts on something different?

Instead of aiming to swim with dolphins, write a best selling novel or scale Mount Everest, focus on setting realistic money-saving goals. The cost of living is always increasing, so now’s the perfect time to take back control of your finance and plan for your future.

That’s why this month we’ve pooled together our top New Year money-saving resolutions. We’ve always enjoyed helping people save money, and this month is no different.

Compare, switch and save

It might seem like an obvious first choice, but many of us Brits stick with the same energy supplier year on year, without ever thinking that we could switch and save. With so many websites available that help you compare the market (sounds familiar right?), there’s no excuse for sitting back and staying with the same provider.

We’ve recently compiled a list of our top ways to get the best deal on your energy bills, so why not have a read of the full article here.

Become a diary fiend

Another easy way to achieve your saving goals is to become a diary fiend. Remembering when bills are due and policies renew will help you budget accordingly, whilst giving you the ability to shop around for the best deal.

Whether this is a physical diary you carry around, a digital reminder on your smartphone, a calendar with dates highlighted in red pen or automatic text/email alerts, there are plenty of ways you can remember the important dates throughout the year.

It might seem like a struggle to start with, but once you get into the routine of reviewing key dates it will become something you instinctively do. If you jointly pay bills, why not ask the other bill payer to help you with the planning?

Find your perfect holiday and set that as a goal

One of the most motivating ways to save money throughout the year is to set a goal, with a specific event as the reward. For example, if you know you want to take a luxury holiday break, why not find one and set that as your final savings target?

Not only does this give you something to work towards, but it also gives you the motivation you need when your focus slips away from setting money aside each month.

Move away from brands

One of the easiest ways to save money whilst food shopping is to move away from the big name brands, and instead buy own brand products. Many shoppers place their trust in household names, and they’re being charged accordingly.

Switching to own brand products could save you hundreds over the course of the year. Still not sure? Well, here are a few steps you can take to see how much you could save:

1. Make a list of the branded products you normally buy, including prices
2. Make the same list with own brand products, including prices
3. Subtract the own brand total from the branded total
4. Times that by the number of times you regularly do a food shop throughout the year
5. Marvel at how much you could save
6. Run around showing your family how much you could save
7. Put that total in your wallet or purse, and read it next time you reach for a branded product in the shops

Treat yourself

Now, this might seem counter-intuitive, but constantly cutting back on things you enjoy can have a negative impact on your savings habits. It’s important that you still do treat yourself, whether this is going to the cinema, having a meal with a loved one or taking a weekend break.

Cutting out everything you enjoy can result in your resenting having to save money, meaning you’re less likely to achieve your goals. So yes, you have our permission to go and enjoy that fancy meal, it’ll help you save in the long-term.

So there we have it, our top New Year money-saving resolutions. We hope that they’ve given you some inspiration to start achieving your savings goals in the New Year.

On that festive note, we just wanted to wish all our readers and loyal users a very Happy Christmas, and hope you all have a fantastic start to 2018. Remember, if you need help taking control of your household finances, then BeeMyMinder is here to help.

Our system gives you the ability to upload unlimited policies, receive multiple renewal reminders and add up to three additional accounts for family members, all in the name of helping you save money. Take a look here to see how else you could benefit.

Last updated by BeeMyMinder at July 26, 2018.