One of the biggest mistakes you can make as a young person is to think that you can’t afford to save money. The reality is you can’t afford not to, and the sooner you start saving, the better!

Most people aren’t aware how much they spend on frivolous items every day! If you don’t think you have money in your budget to begin saving right now, then I have a challenge for you.

Start Saving Cash Now

For one week, write down everything you spend money on, and I mean everything! At the end of the week, review the purchases you’ve made. The results will be a big eye opener!

Saving money isn’t rocket science! It’s about changing your spending habits, reducing impulse purchases and finding ways to enjoy life at a fraction of the cost. I can think of 3 quick examples of how to save money right off the bat – Instead of stopping for coffee at Starbucks each morning, take a cup that you’ve brewed at home; Brown-bag it to work instead of buying food from the deli; Have movie nights at home instead of spending the insane amount of money it costs to take the family out. By adopting these habits, you’ll have money available for saving.

One of the first things you should consider is a 401(k), a retirement savings plan. If you can contribute through your employer, then do so, particularly if they match your contributions.

As a parent, your best bet is to invest in your child’s education with a 529 tax-advantaged savings plan. The money in these plans is invested in assets that become safer and more liquid as your child approaches college age.

Whatever you decide, it’s important to remember to stay invested for the long term and be aware of investment costs. The lower you pay to the agent of the investment, the more there will be for you!

Saving money takes discipline, but you’ll thank yourself down the road when you see the rewards and if an online cash advance is not available to you, by having the money saved you will no longer need to draw upon this kind of borrowing.

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Well it is now the big 2010, or, as some people call it 2 thousand and 10 (I think ’2010′ is much easier!) The issue that some people experience now is the shortage of money following over spending at Christmas. The hype of Christmas often causes peple to spend to much money and this can lead to high levels of debt in the New Year.

So how is it possible to save money in the New Year? We have decided to formulate an easy list of 5 money saving tips to implement for people in the New Year.

5 Money Saving Ideas

1. Cut back on needless items – things to consider here are ‘essential’ items we could well do without, for example satellite TV packages or expensive Gym Memberships. It really is cheaper to go for a walk!

2. Look at taking lunch into work rather than buying sandwiches or meals out. £5 per day on lunch works out at £100 per month!

3. Do you relly need to drive everywhere? If you look at walking you will save money on fuel, or consider public transport or car sharing.

4. Wrap up warm at home – having your heating on all the time is a sure fire way to getting stung with expensive heating bills. Look to put additional clothing on and wrap up!

5. Make a budget and, more importantly, stick to it! Go through all of your expenditure and see where you are spending most. Once you have identified these areas, can you look at cutting back here and trying save money. If you can put all of your household bills onto a spreadsheet you will have a clearer idea on how and where you can save money.

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