Save Money in 2012

This is a guest post written by Shawn Ambrose and edited by Brian at Simply Budgeted. We hope you enjoy it!

Gear up to save money in 2012 – Some budgeting tips that can assist you

After the financial ups and downs of 2011, most of us are hoping to make huge changes to our financial lives in 2012.  If you spent all of 2011 without a budget, this may the time to change that and make sure that 2012 goes well and ends on a more positive note.  Although shopping during the after-Christmas season seems attractive, many people forget to stay within their means, making it tougher and tougher to climb out of credit card debt.  Higher credit card payments take a toll on the wallet and lead deeper into the credit card mess.  Writing a budget or making a budget through a budget planner, however, can help you stay on track and make sure that your expenses do not exceed your income. Here are some smart budgeting tips for 2012:

• Give a rear-view mirror glance at 2011: Before taking some solid steps for making 2012 successful, give a retrospective glance at 2011 so as not to make those same mistakes.  Analyze bad spending habits and resolve not to repeat them in the near future.

• Make a list of the necessities: Make a clear list of all the necessities that you may need in 2012.  Focus on covering those expenses and try to curb other costs so that you keep within your budget.  Overstretching your budget may push you further into the debt cycle.

• Save money like never before:  If you did not save enough in 2011, resolve to save like never before in 2012. This doesn’t mean that you have to pinch your pennies throughout 2012.  Just make sure that you focus your spending on the things that you need and not necessarily on the things that you want.  The best way to keep your money saved is to invest it in a high-yield savings account.  This way you never see the funds.

• Say NO to credit cards:  This is the best way to stop adding on to further debt.  These nasty little plastics may seem overwhelming, but they are debt generators and you should avoid them as much as possible so as to stay on the right financial track.  Stuff your wallet with cash instead of credit and forget about getting things that you can’t afford today with cash.

If you are planning to make 2012 a memorable year, stay on top of your finances by following the points mentioned above.  Repay your debt obligations and seek help from a financial professional when it gets to be too overwhelming.  Make this your year to come out on top.  You’ll sleep better, stress less, and be happier.  Now that sounds like a plan!

What are your goals for budget in 2012?