13 Frugal New Year’s Resolutions for 2013

Will 2013 be your most frugal year yet? Most people who make a list of New Year’s resolutions will include at least one item related to spending, saving or sharing their money. Whether you are preparing to take on a daunting list or you haven’t even given a thought to New Year’s resolutions, why not make a frugal goal for the coming year. Here are thirteen ideas to get you off to a good start in 2013:

  1. Track Your Spending: Learn a little more about yourself by tracking your spending for a few months. This will help you see your spending habits, both the good and the bad, and help you set goals for this year.
  2. Cut a Bad Spending Habit: We all have bad spending habits and they can really add up. Whether you buy clearance clothes because they are a bargain but you never actually wear them or you over-indulge in pre-packaged foods, this is a good time to identify and begin cutting your bad habit.
  3. Create and Maintain a Budget: If you haven’t done this already, this is a great habit to form. Check out these articles on creating and maintaining a budget for some helpful steps to get you started.
  4. Increase Your Charitable Giving: Often times charitable giving ends up being the last thing on the list when money comes in. Why not begin making it a priority? If you are more of a spontaneous giver, why not begin making your giving more consistent? Need help choosing a charity? Check out this article.
  5. Begin Saving Money: Savings really do add up even if it is just $20 per month. It is good to have an emergency fund available for those unexpected expenses, even if it is just $100-200. If you can take it out of your checking account by automatic withdrawal that’s even better.
  6. Live Within Your Means: Challenge yourself to actually live within your means this year by being intentional about only spending what you are earning.
  7. Eliminate Your Credit Card Debt: Do you struggle with credit card debt? This year you could create a plan to eliminate your credit card debt and begin paying your credit card bills on time. Don’t know where to start? Check out this article on paying off credit card debt. If you accrued more debt during the holidays, start the year off right by getting that paid off first.
  8. Pay Off The Interest On Your Student Loans: This is immensely important because it can save you a lot of money, but many students don’t take advantage of it. Paying a little each month can make a big difference in the long run.
  9. Declutter Your Home: Begin 2013 by decluttering your home, especially your closet and your pantry. Keep an eye out for items that you can reuse or give away.
  10. Use it Up: Make a commitment to use up what you have. This is especially important in the kitchen, don’t let something go bad in your refrigerator. If you have a little bit of peanut butter left in your pantry, use it before you buy another jar. No one wants to spend money on something that is just going to go to waste.
  11. Reduce Your Monthly Bills: Are you using all of your cable package? Do you really need internet in your home? Could you lower the temperature in your apartment or turn off a few more lights? Reducing your bills, even by a few dollars a month, can save you a lot of money.
  12. Pay Your Bills on Time: Paying bills late can become very expensive very quickly. Make a New Year’s resolution to pay all of your bills on time, use auto pay to make this even easier.
  13. Find at Least One New Form of Financial Aid: Even a small scholarship can make a big difference in how much you have to pay back later. Talk to a Financial Aid representative at your school or take a look at fastweb.com to get some ideas of where you might find some other scholarship opportunities.

Join the Conversation: What’s your frugal New Year’s Resolution for 2013?


4 thoughts on “13 Frugal New Year’s Resolutions for 2013

  1. Pingback: Take this Poll about Frugal New Years Resolutions! | frugalcommunity

  2. Pingback: Easy Ways To Reduce Your Monthly Bills | frugalcommunity

  3. “13 Frugal New Years Resolutions for 2013 | frugalcommunity” ended up being a superb article,
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    Thanks for your time -Rosalind

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