New Year, Best Time To Save

The New Year is here and now is the time to have your New Year’s resolution in order. But if you don’t I’m here to suggest that your first resolution be to spend little to nothing in the month of January. If you can do this in January you can do it for the months following. A more cost friendly life style will provide you with the financial means to have that lavish lifestyle you want in years, or even months to come.

If you keep your calendar free and focus on the necessities you can gain a lot of the money back that you’ve spent over the holidays, considering you didn’t spend too much over your limit. But if you did spend too much over your limit try to keep your calendar free for the first two months of 2019. I know we still have to cover rent, phone bills, car notes; etc. but only focus on groceries and a means of transportation with your miscellaneous coins. Don’t make plans to go to sip and paint, nor to happy hour, and definitely do not buy clothes from your favorite stores new SS19 (Spring/Summer of 2019) line that just dropped. The sip and paint parties will be there for the other eleven months of the year, and so will that bar you like to join happy hour at. This month you’re focusing on the necessities so you can save your coins that you would’ve spent on social events and clothes.

The goal is to save this money and put it into your savings, or toward your credit card bill, or to pay off any expense created due to holiday shopping. You can obviously spend on emergencies, as long as they are “real” emergencies! For example, Bloomingdales “out of season sale starting from twenty percent off” is not an emergency. Real emergencies only! Which takes me to my next point; no online shopping. Don’t even tempt yourself to spend your miscellaneous money. If you think of something you may want just write it down and purchase it next month.

If you meet your New Year resolution goal of spending less and saving more you will alleviate yourself of debt a lot quicker than you anticipated. Good luck and Happy New Year.

Meet the Writer

Jasmine Barlow is a twenty-six years young woman born and raised in Staten Island, New York. She graduated with her B.A in Mass Communications from SUNY Oswego. Jasmine currently works in finance but is passionate about writing. She recently launched Wolrab On Wednesday, a discussion forum to engage both young men and women in discussions about taboo topics. Check her out on Instagram: @wolrabonwednesdays & @wolrab_ .

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