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New Years Saving Resolutions

Every near year is a time for taking resolutions but hardly anyone thinks of taking a pledge to save as much money as possible during the year and the years that follow. And the few who does take a resolution is unable to make it a reality. This happens due to the absence of a target. Here are some tips that will help you to hang on to your resolution unwaveringly.

Set a reasonable target

One main reason for a successful money saving resolution is to decide what you wish to do with the money you are going to save. And then workout the amount of money you need to procure the object of your desire. Then find out how much you have to put aside on a monthly or weekly basis to arrive at the target amount by the end of the year. When you have set these goals you will be automatically inspired to save for something you really want. Once you have decided and then go about single-mindedly exploring ways to save money and implement it wholeheartedly in the following manner.

Dine at home: Eating home made food is a lot healthier and cheaper than eating out. The more you dine out the greater will be the expense for you because apart from the cost of food you will have to consider the travel cost and the occasional tips you have to bear. Hence it pays to limit your eating out to the minimum as possible.

Buy unavoidable things only

It is a basic human failure to desire things that could be easily avoided or are totally unnecessary. Once you are in shopping mall a lot of things attract you attention. Close your eyes to these tempting objects and before buying a thing think whether you really need them or if necessary buy a cheaper version. It is possible to find the same quality at a discount or lower cost.

Avoid unnecessary entertainments

Entertainments are always expensive and you could be carried away by the occasion to spend more than you have originally planned. You can also check out avenues of free entertainment such as promotional exhibitions fetes and sporting events. Limit your phone calls electricity and gasoline use cable channel networks and subscriptions to unread magazines and news papers. Why to pay for things you dont use or can easily live without.

Get your familys help

Your family members can contribute to your saving efforts by their cooperation. Tell them of your goal if you feel it is okay. Their response can be enthusiastic and encouraging if your plan will benefit them also. This will help the kids to understand the need to settle for less pocket money and earn some money by them-selves.

Anjitha is a financial adviser and well known for his finance related articles . You can find more financial articles written by the author by visiting the following link .
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