Is your New Year’s resolution to save more money?  Have you started? It’s definitely easier to say than to take action. Here are 6 ways to help you save more money:

 1- Find pictures of what you are saving for and tape them to your wallet/credit card. You may be saving for a new car, new home, lavish vacation … whatever it is, find pictures of it and tape it where you will be reminded constantly to save more.  Another idea is to use that picture as your screen saver on your mobile phone and laptop.

 2- Determine how much you will save every week. Breaking down how much you will save into weekly amounts makes it more doable. Even if you save $20 per week, that’s $80 per month ($20 * 4 weeks/month) or $1,040 per year ($20 * 52 weeks/year).

 3- Figure out which area you will reduce expenses to save more money. Most people intuitively know where they overspend. Is it in dining out? clothing? pet expenses? Limit your spending and shift money to your savings.

 4- Set-up your direct deposit to deposit a portion of your income into a savings account. Speak with your company’s Human Resources department to find out how to make this change.

 5- Commit to allocating any increases in income to your savings. This means not increasing your spending when your pay goes up. Click here to read how to wisely use your salary increase.

 6- Ask friends and family to give you money towards your savings as holiday gifts and birthday gifts.

Whatever you are saving for you can make it happen. Follow our 6 suggestions and watch your savings grow.



Niv PersaudNiv Persaud, CFP®, CDFA™, CRPC®, is the Founder of Transition Planning & Guidance, LLC. Her firm bridges the gap between financial planning and coaching. As a Transition Consultant, she offers sage advice in all aspects of life – financial, personal and professional. Niv does not manage money and does not sell financial products. Her services include spending plan development, divorce financial review, life strategy and professional progression. Niv actively gives back to her community through her volunteer efforts. She believes in living life to the fullest by cherishing friendships, enjoying the beauty of nature and laughing often — even at herself. Her favorite quote is by Erma Bombeck, “When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left and could say ‘I used everything you gave me’.”