Three tips for making saving natural and rewarding.

It’s a habit. You can resolve today to save and to manage your finances better in 2016, but it’s really all about the follow-through and developing the right habits. So, if you’re in a place where you can think and write out a few notes, maybe even do a little online research, let’s go. Let’s put a plan in place, that fits your style, to help your resolution and to build that habit.

Find Your Tribe

As you seek to change your money behavior, it might be helpful to know that you’re not alone. Finding your tribe means a couple of things. One, it means finding someone to hold you accountable. It could be a family member or close friend. Or your banker. Second, it means finding the resources or inspiration you need to keep it going. Find a book, blog or podcast that speaks finances – and speaks to you. There are some great syndicated columnists, radio personalities and authors out there. A quick Google search on “personal finance writers” provides a wealth of options. You’re going to need support to turn your intentions into actions. This is one way. Find your tribe.

Buck the Trends

In today’s climate, it might be easy to think that the solution to improving our 2016 personal finance outlook is to simply earn more. This could be done by switching jobs or finding side income. These are real possibilities. However, if you like your job and value your free time, you might consider bucking the ‘trend of more.’ Simple saving tricks. Are you buying coffee out three or four times a week? Cut it. Three or four dollars, three or four times a week over 50+ weeks. It adds up. Put that money in savings. Simple payment tricks. Are you paying down debt without a real plan? Plan it. There are good strategies like the “Snowball Method,” as detailed by author Dave Ramsey. Finally, shop around. It’s easy to be a creature of habit and buy gas, groceries and other commodities at the same place, over and over again. Keep ‘em honest. Take a glance at the price. Can you save 10 cents a gallon by going across the street? How many times in the course of one year? All it took was a quick glance up from your steering wheel.

Conversely, Follow the Trends

If you need to shake things up, maybe it is time to look for something new. Side income is one way to not only to find something interesting to do or even test the waters in a new career, but it is a way you can develop a ‘put-aside’ fund that goes directly towards paying off debts and being a habitual saver. Find an App. Go digital. Do you find yourself staring at your smartphone with regularity? What if that time could be part of your 2016 plan? How? Use apps like Gas Buddy to find local deals on gas, or Mint.com to budget and plan, or use one of the myriad coupon sites or apps out there. Note: Don’t be a “It’s on Sale Spender.” Always identify the need first, then look for deals – not the other way around.

You’ve likely heard of SMART goals. Whatever approach you use to your resolution in 2016, SMART goals are a good way to think about it. To review, SMART goals are:

 

Specific – Whatever action you’re taking, give it a specific goal. What’s the purpose of the action?

Measurable – We’re talking about money. So, making it measurable is about as natural as can be.

Attainable – This is important to follow-through. An unattainable goal is sure to dispirit.

Realistic – Be realistic. You need necessities. You may need other things. Be realistic about what you’re willing to bite off today, right now.

Time-sensitive – Time has a way of slipping away. Make sure you apply some dates to your goals. Start with today’s date. Look out a week. A month. Start small and work your way up.

Saving should be natural and rewarding. Not always easy, but with some forethought and planning, it can become habit, which is the next best thing. Find help along the way, use common-sense and avail yourself to time-saving tools out there. Happy New Year!