4 Ways To Save More Money In 2014

Grow Your Savings

Scranton University recently published a study revealing some of the top New Year’s resolutions for 2014. It comes as no surprise that coming in at #3 on the list of most popular New Year’s resolutions for 2014 is “To spend less, And save more”. With that in mind we have compiled 4 personal finance tips that we have found helpful in the process of spending less and saving more.

Cut The Cable

Think about it, if you can cut your cable bill for just one year, how much would you be able to add to your emergency savings fund in 2014? Many people have cell phones with internet, so cutting the cable bill would not necessarily limit either your internet access or your communication tool, since you would still have a phone.

In its place, you could utilize NetFlix or even RedBox for your entertainment pleasure. A couple of flicks a week would still be pretty cheap and nowhere near the amount you would be spending on a monthly cable bill.

Eat More Home cooked Meals

Eating on the go is a go to move for many of us. It is quick and convenient. It can often times, even be cheap. Or can it be cheap? Don’t let fast food or bargain buffet restaurants fool you. Even spending just 5 bucks a day is expensive in comparison to how little you would be spending if you were to simply bring your lunch with you to work. Search the internet for recipes and have fun with great ideas for home cooked lunches and dinners.

Slash Your Electricity Bill

There are many ways you can cut down costs on your utilities, including your electricity bill. One way is to find out if your electric company offers down time discounts. For example, it may be cheaper to run your washing machine on a Saturday or in the evenings rather than during the day.

Also, contact your local electrical provider and find out if they have an audit program. If they do, you can request a free utility audit to discover ways that you can cut down on costs.

Treat Your Savings Like A Bill

Would you skip you cell phone bill for a few months? How about your car payment, would you skip that bill for a few months? If you answered no, then why would you skip funding your emergency savings?

Treat your savings account just as you would any other bill. Decide how much your “bill” is going to be. A good way to do this is figure out how much money you want in your savings account and by when. For example if your goal is $5,000 in savings by 2015, then you would divide $5,000 by 12 for a total of $416. Then you know that your “bill” for savings is $416. Treat this just as you would your car note. Every month, add $416 to your savings account.

Follow these tips and 2014 will see your piggy bank grow!