It’s 2017 and if you are like most people, you’ve created a series of New Year’s resolutions promising to get your life in order. For some of you that may mean joining a gym while others it may signal getting serious with your debt management. As passionate and committed you may be at the start of the year towards your resolutions, the reality is most resolutions fall by the wayside before March. If you are sick and tired of failed resolutions, it is time to change your mindset this year. Instead of focusing on creating resolutions, set goals for yourself. And the key to your debt management success is to keep everything simple.
You can start on the right foot this year by creating an attainable savings goal. Here are some options to help you save this year:
Simple baby steps
If you think it’s difficult to save your money, try to simplify your life by putting away a $10 dollars a week for every week of the year. By the end of the year, you will have $520! You can use that extra money to service your debt or fund your holiday shopping. You can get even more aggressive with this savings strategy, by increasing the amount of money you save each week ($20, $30, $50 etc.) – it really depends on how much money you want to have at the end of the year.
Keep the change
Are you in the habit of leaving loose change everywhere? Do you have change in your car, bedroom, and book shelf – anywhere you can put it? Are you able to find your dollars and cents when you need it? Probably not. You can save a lot of your hard earned money by putting your loose change in a money jar. You may be surprised at how much money you will be able to save once you get in the habit of saving all of your dollars and cents!
Make it automatic
If you don’t want to think about putting your money aside on a weekly basis or you are worried you will abandon your savings goal sometime in the year, consider automating your payments to your savings account by directing a small amount from each paycheque as soon as it hits your account. Contact your bank to automate your savings or do it yourself through online banking.
Bank the extras
When you get a raise or bonus – it can be easy to blow your “free money” on new clothes or a trendy gadget. Instead of spending your extra money – take it straight to your savings account. Out of sight out of mind!
If you are currently like 48 per cent of Canadians who are living paycheque to paycheque and the concept of saving your money is something you struggle with – it is time to get some professional advice from a trained credit counsellor. Consolidated Credit understands debt can be unmanageable and take complete control of your life. You can bring some order back to your life by putting your debt troubles to the wayside. Give us a call now at 1-888-294-3130 and let our credit counsellors help you to manage your debt.