It’s a new year, a new semester, and a new start to your budget. This is your year to make the changes you’ve been talking about for months and finally follow through with them. There is no big secret to saving money, but there are a few tips that might do the trick.
Here are four ways I’ve been sticking to my budget in the New Year:
1. Having a plan
Set a weekly, monthly, and yearly budget. Make an excel document; download an app (Mint is a great budgeting app); do whatever it takes. You know your finances best, but in general, you’d like to be spending 50 to 75 percent less than you’re making in order to save money.
2. Packing my lunch
I recently started a new job. As a new employee, you might think out-of-office lunches are the cool thing to do. Think again. I’ve found more success in packing myself a healthy and cheap lunch instead of hitting up the food court every day. You’re earning money by working, so logically, it makes sense to not spend money while you’re doing that. It’s just common sense.
3. Not limiting myself
If there’s anything we can learn from failed diets it’s that depriving yourself of something you love never lasts for long, so don’t do it! I enjoy going to dinner with my friends, so I let myself do that every once in a while. I try to cap it at twice a week, but I’m not so strict about this rule. I work hard, save my money, and pack my lunch. This way, if I want to join my roommates for Taco Tuesday, I can. You should, too!
4. Stick to the plan
This may be the biggest secret to saving money. You have to follow through. As much as you want to save money, as much as you plan and as hard as you try, you won’t be successful in saving money this year unless you follow the plan you’ve set for yourself. Make sure you make a realistic budget because you have got to stick with it.