3 New Year’s High-Impact Money-Saving Resolutions for 2017

I’m not joining a gym. I’m not going to eat less.

And let’s face it, I’m probably not going to earn more. But I am going to spend less, and thus have more.

You’ll note there’s nothing here about replacing your light bulbs with more efficient ones. That’s good for the earth and I enthusiastically support it, but it’s not going to make much of an impact on the thickness of your wallet.

Here are my 2017 New Year High-Impact Money-Saving Resolutions:

1. I will avoid making large purchases unless I really need to. We limped along with an ancient boiler for years. It required a lot of nursing. The water makeup broke and I had to manually advance fresh water for years (yes, I’ve been told it’s a fire hazard). Then it started to leak on the floor and I’d have to mop it up regularly. Eventually we capitulated and got a new boiler, but it was years after most people would have. And all those years we were socking money away.
2. I will avoid entering into monthly payment plans unless I really need to. It used to be that monthly payments were limited to a mortgage, car payment, and utilities. Now lots of things are monthly plans: Cable TV, streaming music, Netflix, gym membership, smart phones. Consumers like it because there is no down payment and the monthly charge is relatively small; companies like it because there is a constant, never-ending flow of cash. That’s YOUR constant, never-ending flow of cash. Critically examine new and existing plans – do you really need them? I have a smart phone and high speed Internet, but that’s about it. Nora decided she doesn’t really need a cell phone, so she goes without.
3. Before I make a large purchase or enter into a monthly payment plan, I will wait 24 hours. Think about it. Pray on it. I can’t tell you the number of times I thought of a better or cheaper alternative to a large expense after sleeping on it. Be a wild and spontaneous person, but not with your spending.

And one 2017 New Year High-Impact Non-Money-Saving Resolution:

1. I will invest in myself, even if it means spending money. Sometimes investing in yourself means reading a library book or joining a bible study (free), sometimes it’s taking a night class or subscribing to a premium level of LinkedIn (not free). We make strategic investments of time and money because we think they will pay off in the long run. Personally, I can’t think of a better or safer investment than myself.

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