The New Year brings so much hope. It’s also a time to reflect on what you didn’t do the previous year, right? Did you spend more than you hoped last year? Saved less than you wanted? Well, now is the time to reflect and come up with some ways to save money in the new year!

How to Save More Money this Year

There are a few basic ways to save money in the new year. We all know that budgeting and spending less can save you money. But did you also know that using cash back sites or meal planning can also help you meet your goals?

This list is more than the top 20 money saving New Year’s resolutions. It’s a list of practical advice that can help you learn how to spend less and save more. In turn bringing you a little bit of financial security for the new year.

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Top 20 New Year’s Resolutions That Will Save You Money

Pick one or pick all of them.

Each resolution is so simple that you can add to it, or happily pick it and be done with it.

Financial goals and New Year’s resolutions shouldn’t be hard! It’s best to pick attainable goals, so go on, fine one (or a couple) that will help you save a little moolah in 2020.

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You can grab my New Year’s Resolutions printable here—-> Download Free Printable 

1. Budget- Always the #1 Money Resolution!

I know, I know. This is always the number one thing you should do when it comes to money resolutions.

And always the number one thing you want to skip.

It’s hard. I get it, budgeting is hard.

Or so you think. The idea of budgeting is hard. Once you sit down and actually tell your money where to go. It’s not that hard after all.

Make a quick list of how much you bring in each month. Then make a list of how much you usually spend. Go from there to help you create a budget that works for you.

Need some help? Check out this post to see my favorite way to budget. 

2. Review Membership and Subscription Services and Cut Out What You Don’t Need

Do you really know how much money you spend on membership and subscription services each month?

I’ll admit that even I have a problem with this. I love subscription services like Audible and Apple Music. Sometimes it gets to the point where I have too many services that I don’t even realize I have.

Take for instance the Amazon Free Time Service. I loved it for years, but then my kids stopped playing with their Fire Tablets. I still payed for that stinking service for months before I remembered to cancel it.

Go through your membership and subscription services at least once a year to make sure you aren’t wasting money!

3. Meal Plan

If you’ve been reading this blog for long, then you know that I’m a huge fan of meal planning. It’s the only thing keeping me from going way over my grocery budget each week.

The best part is that it’s so simple. All you do is pick 4-5 family friendly meals and plan them! Then make sure you pick up all the ingredients at the grocery store. Once you’ve planned to make the meal, you’re less likely to order take-out or rely on more expensive convenience foods.

Need more help? Read these posts:

4. Treat Yo Self Once a Week- No More

Treats are so important when you are trying to save money.

Sure, you can live without them, but why? It’s important to find a treat you love that is within your budget and set aside money for it each week.

For me, that is coffee. I treat myself once a week to Starbucks. It makes it even sweeter knowing that I have a special treat to look forward to each week.

5. Implement a Cash Envelope System

This is not my favorite.

Honestly, I’m not a cash envelope system lover, but so many budgeters swear by it that I felt like it should be on my list of top New Year’s resolutions to save you money. It obviously works well for many!

Envelope System Budgeting

Order the laminated cash envelope system above from Amazon. Check prices here—–> 12 Laminated Budget Envelopes

The idea is that you earmark a certain amount of money for each line item in your budget. Then you only operate on cash that you put in those envelopes. Once it’s gone, it’s gone!

If you want to understand more about the envelope system, you’ll want to read this book by Dave Ramsey. It goes over the details of the system and comes with cash envelopes.

6. Shop Used Before New

Buying used isn’t just great for your wallet, it’s great for the environment too.

You don’t have to make a resolution to only buy used items.

Instead, set a New Year’s resolution to shop used before buying new.

What exactly does that mean?

Well, it means making every effort to buy an item second hand before buying new. Or stick with only one area of your life. For me, it works best if I focus on buying second hand clothes. I’m not a big clothing snob so it was an easy place for me to start. I shop consignment stores first. If I don’t find what I need, I have no issue buying new.

7. Only Buy What You Need

This one resolution can save you so much money! This is my personal #1 way to save money. If we don’t need it, we rarely buy it.

Not only will it save you money, it will change the way you deal with stress/ impulse buys.

All you have to do is ask yourself if you really need an item before you buy it. If the answer is no, put it back.

So simple, right?!

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8. Say No More Often to Social Events

Here’s another one that isn’t just good for your wallet! Rest is great for the soul.

Saying no to events is a great way to reset your mind. When we work on overload we have a hard time managing all the important things in our lives.

Pick one or two important social events each month and put them on your calendar. Then say no to everything else!

9. Download Money Saving Apps

Money saving apps are great if you know which ones to use. I’m currently a big fan of the following:

  • Target Circle- get coupons, deals, and 1% cash back with each purchase
  • Ibotta – find offers, scan your receipt and get cash back
  • ShopKick– You don’t even have to buy stuff! Earn rewards for walking in the store!
  • Checkout 51– shop, upload receipt and get cash back

Get a full list of my favorite money saving apps here.

10. Only Shop Online When Using Cash Back Sites

If you shop online often, make your New Year’s resolution to only shop through cash back sites. Not only do you get money back, you can oftentimes find great deals and coupons.

Did you see that the biggest cash back site, Ebates, is now Rakuten?

Rakuten has been a huge player in affiliate marketing for years. They’ve expanded to cash back sites and have taken over Ebates. You won’t see much of a difference if you were already on Ebates. In fact, if you already had an account, it is still there.

Not on Rakuten yet? Join here and get $10 off your first purchase of $25 or more

Other big cash back sites to follow:

There are many more, but these top 3 cover all the big stores.

11. Take a Social Media Vacation

Here is one New Year’s resolution that is really hard.

Taking a social media vacation is great for your wallet because you stop comparing yourself to random people on the internet. You don’t have to feel pressure to buy the clothes influencers are wearing, or go to the places your friends are visiting.

You don’t have to take a social media vacation for the entire year (you certainly can), instead here are some tips to reducing social media for a New Year’s Resolution:

  • Take the apps of your phone and only check on your computer
  • Get off social media for one month during the year
  • Pick one platform to leave
  • Unfollow anyone who makes you feel like you are not good enough

CHECK OUT THIS POST TOO: Can Practicing Gratitude Save You Money?

12. Declutter

Pick one area of your house to declutter each month. Then sell all the things you don’t want or need anymore.

One of my favorite posts on this blog is about how to declutter your home in only 20 minutes a day. This is a great habit to start even if you only do it weekly or monthly.

Declutter your home in only 20 minutes a day. This cleaning hack is perfect for spring cleaning and can make your home clutter free.

You can easily sell on Facebook Marketplace. Read this post to learn how to make money selling your old stuff. 

13. Pick One Debt to Pay Off in One Year

Do you have a lot of debt? Considering going debt free? It is possible!

There are so many different ways to tackle debt. The method that we’ve personally used is to snow ball our debt.

Snow balling your debt is when you attack your smallest debt first. Once it’s gone, use the money that you were spending towards that debt to attack the next one, and so on. Focusing on one debt at a time make your journey to get out of debt feel much more attainable.

Want to learn more about getting out of debt? You need this book by Dave Ramsey.

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14. Start a Christmas Savings Account

Now is the time to start!

We recently went on a vacation to Universal for Christmas. We saved up and paid in full in March. This allowed us to enjoy the holiday season without going over budget.

It doesn’t matter how you start, just so long as you start.

My personal favorite way to do this is with the 52 Week Money Challenge by Medium Size Family. This challenge will get you up to $1000 by the end of the year.

15. Eat At Home More

Have you ever really looked at how much money you spend eating outside of the house?

Take 20-30 minutes to look through your bank or credit card statements to find out. You may be really surprised.

If you find that you are spending too much money dining out each month, make a change. You can eat at home more often, make a budget just for dining out, or pick one or two nights a month as dining out nights.

16. Stick to a Grocery Budget

Just like sticking to a budget, this one can be hard.

Impulse buys are real.

The best way to stick to a budget is to first set a budget. Then you’ll want to meal plan for the week and write out a grocery list. Lastly, stick to that list!

I’ve found that the best way to stick to my list is to order my groceries. As much as I love grocery shopping (I really do), I like seeing the running tally of how much I’m spending when I’m ordering online.

I personally use Walmart Grocery Pickup and Instacart.

Save money on groceries with these links:

17. Talk about Money Each Week With Your Partner

Do you feel like you have a hard time seeing eye to eye with your partner when it comes to money?

Set aside 10-15 minutes a week to talk about it. Look over your spending from the week or discuss future financial expenses. Think about it as a date night!

Just the act of talking about money without fighting first can help you realize that you are on the same team! Even if you look at finances differently, you still both hope to manage it responsibly.

18. Exercise

January is the best time to get a deal on a gym membership. Take advantage of this!

Staying active can help you avoid costly medical bills in the future. It’s one of the best ways to achieve a healthy lifestyle.

Don’t have money for the gym? Try YouTube for free work out videos.

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19. Make More Money

My favorite way to save money is to make more money and put it in the bank.

Here are a few ways to make more money this year:

20. Plan for Failure

If you don’t already have an emergency fund, this should be your #1 New Year’s resolution. Use all the tips above to finance your brand new emergency fund!

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New year's resolutions to save money | how to save money in the new year