Saving Tips in the New Year

If it’s January, then it must be time to revisit New Year’s resolutions past and present. Eat better and exercise? So far, so good. Call mom weekly? Oops. Take care of your money? You knew that was coming.

Check out this countdown to help keep you on the road to saving in 2010:

Spend less than you earn. Saving part of every dollar’s the foundation of financial independence.

Take care of the things you have. You work hard for your possessions. Don’t make them disposable.

Make your money grow. It’s not enough to just have money in the bank. Put it someplace where it can grow.

Defend your credit worthiness. Good credit’s precious – pay bills on time and only borrow what you need.

Weigh credit card offers carefully. Do you really need another one? You might want to explore your best credit options, especially in case of emergencies, for special family or home projects.

Know the cost of borrowing. Figure out how much interest you’ll owe and ask yourself, “is it really worth it?”

Avoid paying fees. Check out your bank statement, poke around, read the fine print and challenge your bank on fee policies.

Invest for the long term. Your future’s built on patience and prudence. Not luck.

Use your home as a savings account. A house provides shelter and comfort. It also provides equity.

And, last but not the least:

Remember what matters. Spend more time with friends and family, and spend less money on all the stuff that doesn’t last.