The Street Articles

With the new year upon us, it’s easy to say “I will save more this year” but what you might not have brainstormed is “How can I save more this year? What are the practical ways to go about it?” The good news is that even small efforts can add up to big savings over time. No matter what you’re saving money for - whether it’s to reach a savings goal, pay off debt faster or plan ahead for a holiday or first home - these simple suggestions will help you get there faster. With 16 simple suggestions, there is surely at least one that would suit you and will help you stick to your goal or resolutions this year! Treat yourself to a birthday freebie. Most restaurants, if you tell them it’s your birthday, will give you a little something just for dining with them. The key is signing up to be a member early.  Raid your drawers for unused gift cards. If you probably won’t put them to good use, re-gift or sell them.  Cancel unused subscriptions for magazines, gym memberships, for example....

  Around this time of the year, many people start to make resolutions – things they want to start doing or stop doing, to improve their life. It is not uncommon for saving and investing more to be in people’s top five resolutions.  Not sure what your new year’s money resolutions should be? Here are some ideas.   Commit to paying yourself first  When you get your paycheck, many people often spend first and then save what is left over. The problem with this is that it doesn’t guarantee any regular savings; your savings could become dependent on how much you spend each month (and often in an unplanned fashion).  In 2021, strategically pay yourself first by setting aside a fixed percentage of your income towards saving and investing (for example the 20% from your paycheck), and then spending with what is leftover.  If this is your resolution, then automation is your friend. You can set the money straight out of your spending account before you have a chanc...