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Make This a Happy New Year by Saving $1000

Wouldn’t it be wonderful to have an extra $1000 (or more) next year—Money that you could do anything with?  It does not have to be a fantasy. Anybody can do it. So, let’s start planning. 

First, decide what you want to do with the extra money. It could be anything from a family vacation to paying off a loan. Now that you have decided what your goal is, make a progress chart. This can be as elaborate or as simple as you like. It is just a place to keep track of what you are doing and how much money you’ve saved. Next, get a container to hold your savings. Anything large enough to hold change and bills is fine.

Now, let’s get started. For the next year, modify your spending habits. Yes, that’s the catch. The trick is doing it right so you won’t be giving up anything. Look at everything you buy. See if there is a less expensive way to do it. Save the difference. For those of you who are using something that you had already to hold your money instead of going out and buying a piggy bank, you have a jump-start. Put it in the bank!

Here are some other suggestions.

• Every night when you get home put all your change, plus a dollar, in your bank.  If you don’t have a dollar then your smallest bill goes in. You will be surprised to discover you really don’t miss it.
   
• Consider shopping at upscale resale and consignment shops. You just might find yourself in designer clothes at big box discount store prices. Also, try selling your unwanted items at a consignment shop or online. They could be worth more than you think.
  
  
• See what’s on sale. Plan purchases around those sales.  For major purchases, take it one step further. See if one store would be willing to beat another store’s offer.  
   
• Take advantage of end-of-season sales. This can work especially well on items that can be used throughout the year for gift giving.
  
  
• Take advantage of off-peak time specials. Catch that movie you want to see Saturday afternoon instead of Saturday night.  
   
• Clip coupons for everything. They aren’t just for groceries anymore! Car maintenance shops offer coupons for services. Restaurants offer coupons for menu items or a percentage off the bill. Home repair and handyman services have offers for first-time customers. This is another business where it doesn’t hurt to ask if they would do the same for a repeat or returning customer.
• Sign up at survey and shopping Web sites that offer points. Then, use those points for gift cards. Either use them yourself or give them as gifts. Also, many stores and restaurants have internet-only specials. It pays to check.

That container should be starting to fill up. There is just one more thing to do. Open a savings account. After all, you are not going to be lying around all year doing nothing. Why should your money?

What other ideas do you have to save money this year?