Is being frugal one of your new years resolutions?

United States
December 20, 2009 9:03am CST
I am a goal setter and each year I set new years resolutions. This year a big one of mine is to live on the money we were making 8 years ago. Our bills are basicly the same except for some of the utilites are a bit higher. It should be hard but do able. I would love to see my savings account grow this year!
5 people like this
23 responses
• United States
20 Dec 09
For money, my new years resolutions go with using a budgeting system. I have one on the computer. It is going to help me because then I can spend my money wiser. I can achieve the goals I want. I also want to decorate the house, and budgeting will help.
1 person likes this
• United States
21 Dec 09
I have a great budget worked out but I struggle to follow it. Its all here on my computer but when I am at the store I dont always think about it and then when I sit back at the computer to do the math I get overwhelmed. I think I will try to make some papers I can track it on and carry in my wallet. I have not quite figured out what I want but I know it will be easier for me to visualize it if its right there every day I spend cash.
• Canada
20 Dec 09
I think that's an excellent resolution, happythoughts :)) I tend to be really frugal by nature, I think LOL I don't buy things I can't pay for in cash... even with my holiday shopping, I order online but I transfer the funds to my credit card right away... so I don't have big bills in January. With the way the economy is going, I think you are VERY smart to be rolling back your spending as much as you can. I wish you much success with that! I'm sure it will be of great comfort to you to watch your savings grow!!
• United States
21 Dec 09
This year we did pretty good at keeping Christmas undercontrol. We may have one or two more things to go get but so far it has added zero to our debt. We did use credit cards more then we should have this year but all should be payed off early next year and I am going to go to a cash system so we dont get more on there. For the most part I am a frugal person, but once in a while I splurge and when we splurge we really do damage. We bought a car this year and wiped the savings right out. I feel stress knowing that if my Hubby lost his job there would be no money to fall back on.
1 person likes this
@cutepenguin (6455)
• Canada
20 Dec 09
I want to pay off the debt completely this year, so I am going to be super frugal. I am going to use points from swagbucks, airmiles, and mypoints to get gift cards for gifts for people. I am going to cut coupons, avoid spending money, and work hard. It will be a good year financially for us.
• United States
23 Dec 09
I would love to see a big chunk of our debts gone this year too. I figure every debt we dont have anymore is money I can put in the bank. Im going to cut any coupons I get and only buy what we need. We are also going to have a bigger garden this year and that will help a ton.
• Canada
26 Dec 09
A garden seems like it would be a fun idea. Something to do that would also save you money and let you enjoy your food more. We are really going to have to focus. I am not entirely certain what our plan of action is going to be, but it's definitely what we are going to work on this year.
• United Kingdom
21 Dec 09
Well, there's nothing wrong with being frugal if it means that you are able to put some money aside in the new year. I would love to do this myself but unfortunately I got myself into debt quite a few years back and now I'm suffering the consequences of that, I'm paying off my debt slowly but I won't be able to start saving money until I become debt free. As a result of my debt though I think that something good has come out of the process and that is that I regularly budget my money now and I have a budget sheet listing all my finances and expenses. A budget sheet is a great idea and I would highly recommend you use one if you don't at the present time. Have a nice Christmas and good luck with your new year's resolutions. Andrew
• United States
27 Dec 09
I would love to be debt free too. I think that it is also important to have money in the bank. If my Hubby loses his job then we will need money in the bank more then we will need our debts to be gone. I have watched a lot of families have serious trouble when they lose jobs and have nothing to fall back on. I will be paying off debt at the same time though.
@Theresaaiza (10487)
• Australia
21 Dec 09
I am forced to be frugal because I do not earn much anyway. So I guess what I would put on my New Year's resolution is to just be happy with whatever have since my year had been marred with so much dissatisfaction and discontentment. To make a difference next year, I won't be prasying or asking for more money, I would like to see a change of attitude. Optimism!
• United States
23 Dec 09
Optimisim is a great goal. Being happy with what you have will make all the difference in life. To me I want to be happy with what I have and want to see less stuff coming in to my tiny house. It is also less clutter and less to clean when there is less stuff here.
@terrile (97)
• United States
21 Dec 09
Most definately! In fact we started small about 3 months ago. cutting back on our extra spending and we tighten the belt a bit each month. I think this has made adjustment easier on the fam. Started couponing this month. I'm amazed at the money I have been able to save in 2 weeks.
• United States
23 Dec 09
My dream in life is to buy a farm and so that is one of my motivations here. I am looking to build up a down payment for the land and the house that can get us there. It will be hard work but I love to see the daily progress of my work. We are starting out small and cutting back as we get used to it. I think as we get used to where we are its easy to take the next step from there instead of trying to leap and make huge changes.
@chadog (22)
• Philippines
21 Dec 09
You bet! I prefer to do that next year ..... time to save more and earn more just for myself but for my family. Being frugal is not being cheap in the first place. Just buy what you need and spend what you have for the right occasion. I just love to have a couple of pennies on my wallet .... call me a cheapskate but at least I'm saving. :)
• United States
23 Dec 09
I think we would all be a lot happier if we figured out that there is a big difference between wants and needs. If we only bought what we needed and then a few things we really wanted I think we would feel like the money in the bank was better then that pizza we now need to work off our hips.
@dorannmwin (36698)
• United States
21 Dec 09
For my personal purposes, I am not going to call it a New Year's resolution, but I will instead choose to call it a life resolution. My husband and I started on this in September of this year and we hope to be able to continue on this life resolution for the rest of our days. We looked at our spending habits and have now cut out the greatest majority of our unneccessary spending. It is really nice for us to now be living a lifestyle where we don't spend money that we don't already have in our possession. Good luck to you on your New Year's resolution.
• United States
23 Dec 09
I think of the new year as a good point to start over and reset many of my goals. I think for the most part my goals are the same this year as in years past, its just tiny progress that gets me where I need to be. It is a lifestyle I am trying to create through it though so I think we are on the smae page, Good luck.
@TrvlArrngr (4057)
• United States
21 Dec 09
It is definitely one of mine. I need to really watch my budget in 2010.
• United States
23 Dec 09
I am trying to make it fun so that it does not feel like something I am doing because I need to but I want to. My attitude towards it always makes or breaks it!
• United States
20 Dec 09
You know whenever I moved out I was pretty frugal. I barely spent much money. I always used coupons to go shopping with that kind of thing. Now since I am working a better paying job that is full time and what not, I feel like I've lost the drive to be frugal, that or I'm just far too busy to worry about clipping coupons all the time or hitting up the best sales. I would like to work harder on being more frugal. I do my best now but I think I could stand to do a bit better!
• United States
23 Dec 09
As soon as I didnt need to be so frugal I wasnt anymore. It lost a lot of its fun. This year I am hoping to put the fun and excitement back in to getting a great deal at the store. We still have a full pantry and I got a good deal on whatn we have there I just know I could have done better.
• India
20 Dec 09
great! i too plan to be more frugal and spend only on the absolute necessities and cut down on the absolute extravagances.i would like to put the money for some good use.
• United States
23 Dec 09
I think having a plan it what we need to deal with first. The rest will come when we follow it.
@LaurenInLA (2272)
• United States
20 Dec 09
WOW!!! What an excellent idea. DH and I have always been able to spend without worrying about money but since we retired and our income is fixed, I've been trying to make cutbacks. I started last month by tracking our spending. Can you believe that we were spending $900 a month eating out? We'll always eat out but I want to cut that number down by 2/3rds. I'm going to spend next week looking for ways to cut expenses. Another shock was to see that we were spending $140 per month on phone bills. We have a landline, an internet dedicated line and two cell phones. I don't think that we need the landline at all and in terms of the cell phones, we have tons of unused minutes so I know that I can save some money there as well. Good luck.
• United States
21 Dec 09
As my hubby got his raises we began to treat out selves to more dinners out and I was shocked at how much we were spending. That will be the first big cut we make. We only have cell phones and for the most part that is all we need. We are considering getting another line for when we have baby sitters over, but that will only add $10 a month and give us a lot of piece of mind. We definatley have more bills but we will look at each one individualy and see what we do and dont need.
@Thoroughrob (11750)
• United States
20 Dec 09
We are going to continue to be frugal. We don't have money to put in savings. I wish we did.
• United States
23 Dec 09
When we bought our house we tried to put $5 a month in to the bank. It was never alot and many months we couldnt do it, but when we ran out of food money it was nice to go get $10 and be able to buy some milk and bread to eat until we had the cash to get by. I think it all adds up. I walk around and pick up change off the ground and when it gets more then I can carry in my wallet I deposit it in the bank. I know its only a dollar here and there but they pay me pennies to keep it in there so it seems worth it to me.
@BinaryKat (738)
• United States
20 Dec 09
It is a definite goal for the next year to be a bit tighter with money and save. This year has been rough since getting married earlier this year and I am learning all the dynamics that come with it and how to deal with money lol. I have been working as temp the last two years so I am still trying to supplement the income while hoping to get something full-time. My husband has been an office manager at the company he works. There has been money issues at his company which made me think of ways to keep money around in the event he doesn't get a full paycheck or something. I have done some cutting back when it comes to groceries like actually planning out weekly lunch and dinner meals so I don't go overboard at the store. I have been trying to pay off my credit cards and that is the second goal to wipe at least one totally out and get the other cut by half before the year is up. I will hoping be checking out thrift stores more often and keep my shopping limited to essentials and once a while a want. Make sure bills and rent is paid on time. I kinda got a virtual piggy bank going on in my paypal account lol. I been doing surveys with pinecone and looking at other places to put change in there. It will serve as the growing emergency fund. I been collecting change in putting in my physical bank and I think it is over $30. I am trying be like my little sister who will be 22 this year, she accumulated so much change over the years that she came up with a little over $200. So been researching ways to keep us floating and hope that when 2010 comes, it is more kind to us than how 2009 has been lol. Happy mylotting!
• United States
21 Dec 09
I have been a stay at home mom and wife for 10 years now and we have struggled a few times living on just one income. I try to find little odd jobs that I can work while still being a full time homemaker. We have been lucky so far that my Hubbys job has been stable, but we have watched many people go under in this economy. We used to have 6 months of savings and right now we are running way low. Ive been so used to the credit cards and so we had little change to put away. I carry more cash now and so we end up with more coins, I counted $30 this weekend. It all adds up.
• Philippines
26 Dec 09
Hi there happythoughts! I have always been a frugal person. Thanks to my parents who taught me to live a frugal life. Well, being frugal is NOT really one of my new year's resolutions for 2010 because it is already one thing I do. But, I would definitely continue to live a frugal life. Good luck to your new year's resolution!
@cher913 (25884)
• Canada
26 Dec 09
oh most definitely! i love trying to save money whereever i can these days. i hope to get all my Christmas shopping done using sales and whatnot well before Christmas next year. not only that, i hope to eat cheaply and shop a lot at thrift stores!
• Philippines
26 Dec 09
one of my goals for 2010 is to make my savings account fatter.I would like to open a passbook bank account.this is my primary savings account.it helps that passbook isn't easily accessible.my ATM savings account is both my savings and emergency fund.it is comforting to know that when something happens like losing your job,you have money to cover for it.
@cutepenguin (6455)
• Canada
23 Dec 09
Yes, I am resolving to be frugal next year. I think that this year I should be able to get out of debt. We are more motivated to get out of debt this year, and we will make slightly more than we did last year while our bills will be about the same. I am going to try to cut down as much as possible on our expenses.
@nishdan01 (3055)
• Singapore
22 Dec 09
I think I am frugal always. I try not to spend more than usual unless there is an occasional indulgence. Our utility bills are down these days. We have cut down the air-con use and the same will continue on to next year. So more savings.
@sublime03 (1810)
• Philippines
21 Dec 09
I am definitely aiming to have a savings account going without having it foreclosed ever so often. Since I earn more, I tend to spend more of my money to the point where I do not get to save any funds for myself or for a rainy day. This coming 2010, I really wish that I would get to spend every penny so that at the end of the year I have money to say that it's hard earned cash I have here. But yes, I being frugal is one of my new year's resolution and hopefully I follow thru with this one.