The New Year is finally here, meaning that many people are beginning to create and attempt to follow their New Year’s Resolutions. One of the most common resolutions among people all around the world is to take control of their finances and save more money. Whether you’re looking to grow your emergency savings fund in 2023 or want to save up for a home renovation project like the installation of custom made bathroom cabinets,here are a few simple tips for saving money in the New Year that can help you keep your resolution and meet your financial goals.
Download a Cash Back App
One of the biggest ways to save more money is by taking advantage of cash-back opportunities at your favorite retailers. From grocery stores to bars and restaurants, many places offer customers the opportunity to earn cash back on purchases – which can very quickly add up, and translate to real money that can be added to your savings account. Apps like Ibotta and Ratuken can connect to your debit card and allow you to earn instant cash back on purchases from various retailers, which can then be easily direct deposited into your bank account. This is one of the simplest ways to save and earn additional money on necessary purchases that would be made anyway.
Clean Out Subscriptions
With so many subscription services available to consumers, it can be easy to lose track of services you are subscribed to that you no longer need. From streaming services like Netflix and Spotify to grocery delivery services like Hello Fresh, it can be easy to lose quite a bit of money each year on subscriptions. Use the New Year as an opportunity to take account of what services you are subscribed to, and consider unsubscribing to those that are unnecessary.
Pick Up a Side Gig
If you’re struggling to save money because you do not earn enough money at work to put much into savings, it might be time to pick up a side hustle. Whether you’re looking for an entirely new source of full-time income or just want to make a little extra cash in your free time, becoming a delivery driver or dog walker can help to put extra money in your pocket that can then be put in savings.