I Resolve To . . . Save!

Around the world people are living through one of the most serious economic downturns since the Great Depression . . . a downturn that is forcing both mighty corporations and the average citizen to do serious 'belt-tightening'.  Personally, I don't consider myself to be an extravagant spender and I do save.   Most of my extra money goes into my business, my home, and my passions (writing, photography, various causes that I support, and so on).  That said, there is plenty of room for improvement, so I am reviewing 'everything' with an extremely keen eye during my annual preparations for tax season.  I am applying a magnifying glass to my budget, the money that comes in and how I spend it, so I can improve my personal and business financial habits for the long-haul:  Mainly, cut expenses, pay down debt, so that I can save more money.

I intend to make a dedicated effort to 'Save', as part of my I Resolve To . . . Challenge:  365 Resolutions For Health & Happiness.  Why not join me?  The objective is very simple:  Do at least one thing each and every day to promote health and happiness for 'YOU'.  Banish the 'Someday, Someday, Someday Syndrome'.  Instead, make every day New Year's Day.  Make every day count.  The list of possibilities is infinite and can be tailored to your own dreams, resolutions and daily goals.  If you need some help - a little nudge, a bit of inspiration, tips, advice, and news about the best ways to make resolutions a reality - please use IResolveTo.Com as one of your resources.  Resolve365 in 2009!

During these uncertain economic times, I am well aware that I might not be able to save as much I would like - health care costs are soaring and earnings are spread thinner and thinner - but that doesn't mean that I can't improve the way I use my hard earned dollars.  I am not a financial planner, or an expert, by any means.  I want to state that up front.  I do, however, regularly take the time and initiative to  educate myself about planning for my financial present and future.  Here are 15 common sense steps that I am taking, right now, to reduce spending, so that I can maintain or expand my savings and retirement accounts little-by-little, over time:

1. Review earning and spending and create a new budget with an eye to cost-cutting:  I try to do this annually when I begin preparing for tax season at the end of the calendar year.
2. Keep track of - write down - what I am spending, so I can improve my spending and saving habits.
3. Review my savings and retirement savings plans, maintain what I am currently saving and gradually increase savings, as I improve finances and lower debt.
4. Pay myself first:  Adopt automatic monthly, or quarterly, 'deposits' to retirement savings and savings account.
5. Pay cash:   "No cash, no buy".
6. Shift higher interest-rate credit card debt to 'zero-interest' or lower interest-rate cards (there a are good deals to be had by doing research).
7. Pay off debt, starting with the smallest balance first.
8. Pack a lunch and reduce trips to the gourmet coffee store (which is actually more fun because I really do appreciate the 'treats', when they are actually treats and not routine purchases).
9. Rent a movie rather than hitting the theater.
10. Look for 'free' entertainment opportunities:  Perhaps a nature hike, a 'board game' evening with friends, or a road trip to nearby scenic/historic points of interest.
11. Drive less and walk more:  Less gas is good for the environment and the pocket book.
12. Search on-line and in the newspaper for sales:  Items that are needed and not shopping for the sake of buying 'stuff' because it is fun and feels good.
13. Handle more chores and repairs around the house, rather than 'hiring out' (the chores that are within my base knowledge and expertise - I'm not an electrician, for instance, best to leave wiring to a licensed expert!).
14. Stop buying un-needed stuff:  Before buying anything new, really ask myself, "Do I need this?".

15. Cut coupons & actually use them (stowing 'out of sight' where they are forgotten will not save a dime).

I have also found and used a wealth of websites and articles for budgeting and saving. Here are a few that offer some great common sense tips:

• WikiHow.Com - How To Save Money
• About.Com - Make Saving Automatic
• SuzeOrman.Com Financial Tips, Books
• Wiki-How - How To Budget Your Money
• MSN Money - 5-Minute Guide To Budgeting
• WikiHow.Com - How To Save Money On Gas
• MSN Money - How To Build Your First Budget
• Kiplinger.Com - Save Money On Practically Everything
• Businessweek.Com - Twenty-Five Ways To Save More Each Month
• CNNMoney.Com - Money 101, A Step By Step Guide To Gaining Control Of Your Financial Life

Remember: I Resolve To Achieve My New Year Resolutions, One Resolution, One Day At A Time For One Year. It's your choice. Do it today. Turn your resolution into reality in five simple, common sense steps: Dare To Dream, Decide, Define, Develop A Plan, and Do It Daily. Make your resolution a permanent Lifetime Resolution, something that's with you for good! Above all, Be A Resolutionista, someone who makes resolutions, keeps resolutions, and enjoys the journey! Make Every Day New Year's Day. Make Every Day Count. Let's Go For It!