7. Reduce on partying

It’s time to party! Do you carry this mood more often? If yes then it’s time to reduce on such events. Try to make your lifestyle and purchasing decisions based on what you can actually afford, not by intimating how others are buying or spending. Don’t get disappointed if your friends drive a luxurious car, he might be having a much fatter account to afford that.  Instead try to make your retirement account fatter than of thinking of taking loans to get the same car.

8. Spend less on shopping unwanted and expensive stuffs

If you are really planning to start savings, which is a very good resolution, then stop finding reasons to shop more. It has been observed that people just need reasons to spend money—shop when depressed, shop when you are bored, or attending a single day affair and so on.  Some people have a habit of spending money on stuffs just to fill their wardrobe or to renovate their wardrobe—senseless concept. Again there are people who buy expensive gifts to friends just to make an impression. But money is hard earned and doesn’t grow on trees. So, stop buying unwanted things and expensive gifts just to make an impression or simply showing off.  Just follow an easy calculation—spend less save more.

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