The New Year Money-Saving Tips That Every Long-Term Saver Uses

We’re starting a new year and along with it, our motivation to use new year money-saving tips to collect more money and improve our finances is renewed. Automating our savings, setting specific financial goals, reducing our pills, and knowing how to find emergency money, for example, through a cash advance near me, are all valid ways to get ahead financially.

That’s why we've collected the top seven new year money-saving tips that long-term savers are using.

In the following sections, we'll look further into each of these new year money-saving tips to establish how you can use them to your advantage this year.

Top 7 New Year Money-Saving Tips

1. Automate Your Savings And Payments

With the rise of technology, it's easy to automate your savings contributions every month. Simply establish a monthly direct deposit from your spending account to your savings account. That way, you reduce the chance of using this money to cover other purchases.

The same can be said for regular monthly payments — automate them! You won't have to worry about late fees or missing payments entirely. Not to mention it's effortless to set up and saves you a lot of time in the long term.

2. Set Specific Financial Goals

Realizing you want to save $5,000 is great, but if you really want to achieve your dream, you must make it more specific. For example, "I want to save $5,000 to go on my dream vacation by 2023."

The example above attaches a tangible goal (i.e., the vacation), with a specific monetary amount (i.e., $5,000) and a timeframe to achieve it (i.e., by 2023). Thanks to your preset parameters, you're more likely to work to reach your goal and you will also have clear milestones toward it.

3. Use The 50/30/20 Rule

If you've spent a lot of time searching for new year money-saving tips, you've likely come across the 50/30/20 budget model before. It's a trendy way of allocating paychecks.

The idea is simple:

• 50% of your income pays for necessities.
• 30% of your income pays for wants.
• 20% of your income goes into savings.

If one of the categories exceeds the assigned percentages at the moment, you can work on changing it by analyzing the reason, which could be some cost that isn’t all that affordable.

4. Put A Spending Limit On Your Cards

Set a limit for spending on your credit and debit cards. It prevents you from overspending and almost forces you to budget in advance. These days, most banks offer this service, so we suggest you make use of it.

5. Reduce Your Current Bills

A large amount of your monthly income goes toward gas, water, and electricity. With that in mind, cutting them back works wonders as one of our new year money-saving tips. You can reduce them in several ways, such as:

• Sealing air leaks.
• Changing provider.
• Installing LED light bulbs.
• Investing in a smart thermostat.

6. Try A No-Spend Week

Nominate one week (or day) a month where you spend nothing. It might mean you need to make your coffee at home, cook meals using ingredients in your fridge, or socialize at the park rather than the pub. It's bound to help keep your bank account healthy.

7. Know Where To Look For Emergency Money

Ideally, you should use your new year money-saving tips to plan for financial emergencies. After all, they can derail your monetary plan if you're not careful. 

However, if a crisis strikes before you manage to grow your emergency fund, it helps to know where to find money quickly. There are many resources available, including a cash advance near me.

South Carolina payday loans are a form of cash advance that allows you to borrow up to $550 to pay medical bills, repair your home, or fund unexpected travel (among other emergencies). The process is quick and easy, allowing you to sort your problem as soon as possible.

How Can I Get A Cash Advance Near Me?

Follow the steps below to get a cash advance near me from Carolina Payday Loans, Inc. today:

1. Submit the online cash loan SC form. It will send your information directly to your nearest Carolina Payday Loans, Inc. storefront.
2. One of our friendly loan experts will call you to discuss the cash advance near me process, tell you about the required items, and answer your questions.
3. Head to your closest Carolina Payday Loans, Inc. store. Don't forget to bring your most recent pay stub, driver's license, or another form of government-issued photo identification, and a blank check from your active checking account. Please note the checking account must be open in your name.
4. When you arrive, our associate will evaluate your paperwork and the information provided on the initial form to establish the amount of cash you qualify for. It's also a good time to ask any questions you forgot about earlier. 
5. If you qualify, you can complete the process with the associate's help. 
6. Finally, you will get the money you need on the same day or the following business day!

Get Your Money Saving Game On!

With our top seven new year money-saving tips, you should be well on your way to achieving your financial goals. Automating your savings and making sure to reduce our expenses will greatly improve your progress toward your financial goals.

Remember, if an emergency happens that you need to address quickly, you can always get a cash advance near me if your emergency fund falls short in times of crisis. Submit the online form today to get started.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.