Every new year brings resolutions for most people, which means that it is just as good a time as any to start trying to save a little extra money. Ask yourself what your spending and savings habits were the prior year and determine what you need to change.

Go through your credit card statements and figure out where exactly your money is going. If you have any club memberships or subscriptions that you are not using, do yourself a favor and cancel them. If you like magazines, but you do not always read them when they are sent to you, drop the subscription and just buy them when you know you are going to read them. Cut out that extra bottle of cola to or from work or school every day and think about how much you will save by the end of the year just by cutting that out.

The second thing you need to do is start a savings account if you do not have one and make sure you pay yourself before you do anything. Stick that money into a savings account just like it was another bill that you have to pay. Some of us who are self-employed may decide that trusting our retirement to social security is just not enough of a guarantee of a safe future, so investing in a retirement fund may be a much better idea.

If you owe the bank any money on anything, you will want to try and pay more than the minimum payment every month. Paying an extra $100 on a house or a car payment every month will enable you to finish off your payments considerably early, depending on how much it is worth, and you can save from hundreds to thousands of dollars in interest.

Shop for groceries the smart way and go in, get only what is on your list, and get out. This sounds a lot easier than it actually is, especially if you have kids, but if you leave the kids at home and tune yourself out to everything but what is on the list, you will do fine. Take advantage of items that are on sale, such as buy one, get one free deals. Items that can be frozen are of the most value here.

One of the best things that you can do for both your health and the health of everyone around you is quit smoking. It can save you up to $2,000 a year or even more depending on how much you smoke every day. Think about where else that money could be used.

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About The Author:  Dror Klar is a writer in the field of finances and is currently assisting those in need of cash advances and payday loans, particularly in the state of California.

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