The beginning of the year is a perfect opportunity to give a little thought to how your finances are travelling as well as what money resolutions you can make to set yourself up for a year of savings success.

Here are six money resolutions sure to save you money all year long:

Learn a new skill

Before you commit to learning how to cook Thai cuisine or a new language, get your haggling skills up to scratch and watch the savings roll in on everything from your home loan and energy bills to big-ticket purchases.

Rid yourself of credit card debt

If your credit card is still feeling the financial pinch of Christmas and a long summer of spending, clean up your debt by transferring your balance over to a balance transfer card. Many balance transfer cards available right now have generous interest free periods of one year up to 20 months so you can get your debt cleared before those nasty revert rates hit.


Organising a monthly or even weekly budget is a savvy habit to show you exactly where your cash is being used up. If you’re buying a new car, going on a trip next year or renovating your home this year, download ASIC’s TrackMyGoals app, a handy feature that allows you keep track of your savings goals.

Build up a financial buffer

Prepare yourself financially by stashing cash away in an online high interest savings account for whatever rainy days or surprises this year might have in store for you.

Increase your future wealth

Build up your future wealth by making regular voluntary contributions to your superannuation throughout the year and if you’ve come into a small fortune for whatever reason, research investment options such as individual shares.

Give up a vice

You may already be considering kicking smoking, alcohol or even coffee to the curb this year but if you need a little more incentive, we did a quick calculation on how much extra could be in your wallet if you broke up with your barista. Say you were drinking two coffees a day at $3.50 a pop, that’s an impressive $2,555 saved!

Do you have anything to add to this list? SHARE with us in the comments below.

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  • Thankfully I am very frugal. Im a really good saver and proud of it.


  • We are currently saving by shopping around for the best energy supplier deals and cutting down on how much energy we use our last bill was under $300


  • Buying seasonal fruit and veg, and buying items when on special can save a lot of money. My mum used to say “it might be only 20 cents, but it will be 20 cents in your pocket instead of someone else’s” and that has always stuck with me.


  • Work on using up what you have at home before buying more i.e. food, toiletries


  • Some good tips. We’re pretty good in terms of paying off the credit card each month but we definitely need to cut back on the little ‘treats’ like buying lunch or a coffee when we could make our own.


  • washing the car by hand rather then going through a car wash can save. cheapest one at on the run is $9.95 x 2 cars = $20 x once a month =$240 a year. Every little helps!


  • Great tips. Packing lunch instead of buying lunch has been a great saver for me. We also try to budget as best as possible and track expenses so we can identify areas we can save.


  • Thank you for all the suggestions.


  • Set targets. When we have a family goal, it gives us more motivation to save. We’re heading to Thailand mid-year, so the aim will be to save for spending money.


  • These tips are great. Home made coffee in a thermos would save you heaps instead of visiting your barista. Most of them charge $ 4.45 or more a pop!


  • Great advice,taking your own lunch to work is a huge savings and it does add up!(and cut down on the take-away coffee!)


  • Some great tips there, I really need to stick to some of these. One thing we do do is put any extra savings into our Offset account which means the invest earned goes straight off our mortgage and you are not taxed on this come tax time.


  • Good tips for those that need them.


  • great tips for those in need.


  • Kicking debt is the best thing you can do for your family. Getting rid of debt means freedom to do the things you enjoy too.


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