New year, new you. This is the sentiment shared by many as resolutions, promises and goals are written on January 1, 2016. Some resolve to find love, advance their career or shed some pounds.
For many, the new year is the time to whip excess spending into shape. If your finances need some “shaping up,” consider:
Ditching Your Cable
With the advent of Netflix, Hulu and other free or inexpensive entertainment services, traditional cable packages are no longer necessary. Before you make the change, pay attention to your weekly viewing habits, and see if you can get the same programs while cutting costs and saving money. If one Netflix or YouTube Red account will satisfy your entertainment needs, there’s no reason to keep paying your cable bill. However, it is important that you are selective in the services you pay for, because if you get too many, you could be paying more than your original cable bill
Creating a Meal Plan
In April 2015, restaurant sales overtook grocery store revenue for the first time in history. What does this mean? Americans eat out a lot. Eating out is convenient and often very fun. However, it is also very expensive. Especially if you are dining with a family. This year, resolve to cook at least three meals a week at home. It may seem daunting at first, but making a weekly meal plan, going to the store and following the meal plan exactly can save you money. Additionally, if you plan the right kind of meals, you could shed pounds too, as restaurant food can be fattening compared to eating at home. This way, you can conquer two resolutions for the price of one!
While trying to stay healthy and get fit, people spend a lot of money on fancy gym memberships and fitness classes. Tighten up your budget and cut your expensive gym membership. There are other options for healthy living. YouTube has great (and free) workout videos. You can search Groupon for local fitness packages or you can choose a budget-friendly gym. You can lose pounds and costly gym fees at the same time!
Need help shedding excess payments or getting out from a mountain of debt? For more information on cutting spending, managing your money, bankruptcy and other financial topics, contact us today.