5 New Year’s resolutions that will save you money

If saving money is at the top of your resolutions list, you’ll save a lot by following this advice from experts

Spending unnecessary money is a habit numerous people can't seem to rid themselves of. With wedding season in full swing and the New Year just around the corner, our pockets are probably nearly empty. This means, many people will be wishing they'd have saved more or spent less.

Now is the perfect time to think of your resolutions for next year, if you haven't already. Spending less will probably be at the top of everyone's list so here are 5 resolutions you can have to help you save money this coming year, as compiled from Reader's Digest.

1. Tackle your credit card

PHOTO: READER'S DIGEST

Expensive credit card debts usually cause you to waste your hard-earned money. It can also hurt your credit score if you miss payments. So try and cut down on using them and tackle the urge to do so.

2. Declutter your closet

PHOTO: READER'S DIGEST

Dejunking your home is an unconventional way to save money: Joshua Becker, author of best-selling book The Minimalist Home, explains how decluttering and reselling unused items can pay off both financially and mentally. “Removing unneeded possessions from your home offers you the opportunity for resale. If you are removing expensive items, the cash can add up quickly. Even if you are selling inexpensive things, the cumulative effect of removing a lot of clutter can add up,” he says.

3. Switch service providers

PHOTO: READER'S DIGEST

If your network, cable or internet provider won’t budge on fees, take a look at the competition. switching providers altogether may make the best financial sense. “A great New Year’s resolution would be to pay off your cell phone and switch service providers,” says Sa El, Founder of SimplyInsurance.

4. Challenge yourself to save

PHOTO: READER'S DIGEST

Instead of trying to break all your financial bad habits overnight, consider starting with a small challenge that you can work towards over the course of the year. R.J. Weiss, founder of TheWaystoWealth.com favours this approach: “The 52-week money saving challenge has you increase the amount you save by $1 each week.

5. Commit to cooking at home

PHOTO: NATURAL HEALTH 365

Dining out burns through your budget like no tomorrow. You can save a lot by just cooking at home more. You'd be surprised how much you can stretch your food budget with this simple trick.

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