It’s never too late for New Year resolutions…

It’s almost the end of February and those New Year resolutions we resolved to keep are now but a faint memory in the backs of our minds so is it too late to make a new one and improve your finances? Not at all!

Some people may still be paying for Christmas and have an eye on a holiday that they want to take this year yet are finding it a struggle to find the money. Even those on the lowest incomes waste money and yet a few simple measures can really improve your bank balance.

Hands up if you buy a sandwich for lunch every day! Quite a few of you and I bet that sandwich costs you at least £2. That £2 a day (presuming you work a 5 day week) amounts to ~ £500 a year so doesn’t it make sense to make a sandwich the night before and take it with you? That annual saving would go quite a way to paying for that holiday you need wouldn’t it?

Another way of saving money is looking at what you actually buy when you do your weekly grocery shop instead of what you think you buy. This takes a bit more effort than making a sandwich to take to work but it’s worth taking the time to do it.

For four weeks keep the receipts from your weekly shop and look at exactly what you’ve bought. Break it down into sections such as fruit & veg, meat, treats etc. Write it all down in a book and look at what you’ve spent. Do you really need all those crisps/chocolate/ready meals or whatever it is you’re shocked to see you’re buying? Even after doing this for just one week you’ll, more than likely, rein in your spending and should make a saving straight away. On subsequent weeks you will probably be able to see where bigger economies can be made especially if you challenge the “brands are better” style of shopping!

Likewise, think twice before taking the car out for a short trip. Is it really quicker to get the car out and drive a short distance or would it be equally as quick to walk? It will save you money and get you that little bit of extra exercise! Wouldn’t it be great to be on the way to that body transformation you promised yourself when you wrote your New Year resolutions?!

So what to do with all that extra money you’re not spending? Take a look at my blog post here on saving and put that money to really productive use and congratulate yourself on being a little more money savvy than you were this time last year!

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