Save more money this New Year’s

According to the York Daily Record, 30.1% of New Year’s resolutions are to save more money. Officials say the hardest thing is to stick to that resolution. Kara Lewis, a financial advisor from Edward Jones, tells us that the biggest thing people should do is to pay yourself.

“Whether that may be putting money into an emergency fund and if you don’t have that established or taking something monthly from a checking or saving account and putting it into an investment,”says Lewis.

Lewis says creating that emergency fund can help cover expenses that you may have not expected. Once you have paid yourself, the next thing to do is to plan out expenses based on how often you get paid.

“The best thing to do is to set up a monthly budget for some people it would be a weekly budget,” says Lewis.

If people do have access to online banking, checking  your statements every few days because it can go a long way.

“We buy that coffee that extra pack of gum and it adds up. It might be 50 cents here or a dollar there and I think a lot of people realize how much in a month’s time they’ve spent on little things,” says Lewis

Lewis says sticking to a budget can be hard the first few months. However, she recommends to continue trying even if there are  times that you don’t hit the amount you need to .

“Just pick up the pieces and start back on. So many people do their New Years resolutions and as soon as they find out they didn’t hit their goal that give up for the year and that’s the worst thing you can do,” says Lewis.