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Staff Writer at Debt Reduction Services

Use your money as a tool to thrive financially in 2016

Sometimes the little things really do add up and if you follow these ten steps you may find a wealthier and money smart you is right around the corner. These steps may even help you achieve less stress and better health.

Ten tips to help you thrive financially in 2016:

1.       Try living with fewer wants and focus on your needs. You may want the newest gadget now, but waiting and resisting the temptation to splurge might help you avoid spending your hard earned money on a fad that you may have little interest in later.

2.       Cash only method may work for you! Try putting the plastic down. By not charging to your credit cards you can avoid unnecessary interest fees or other potential charges that by using a cash only method you can avoid altogether.

3.       Clip coupons this year. Great deals can be found in online or print coupons to those willing to take some time to look for them. Every penny saved counts!

4.       Develop your savings habits. Get yourself into the habit of saving 5 to 10 percent of your income each month. Make it your goal to not touch it. Consider it out of sight, out of mind. Add to the percentage you are saving as you find additional income. By the end of the year, you will be in a better position than you were before you started saving.

5.       Set goals for paying individual debt off in full and one-by-one if you need to. The quicker you buckle down and take care of your debt the quicker you can use that money for saving and investing back into yourself.

6.       Do you have any change laying around? Invest in a change counter and watch your pennies add up. (We picked up our electronic piggy bank for less than $10.00 and have already saved more than double that amount.) This is a simple way to experience a sense of accomplishment.

7.      Eat-in and prepare your own meals more often. Fast food seems convenient and affordable, but it can end up breaking the bank quickly, not to mention assist in packing on the pounds fast. Make a meal plan at home and buy in bulk if possible. The benefit from following this rule can increase your savings while trimming your waist, consider it an added benefit.

8.       Stay-cations are in! Look at traveling close to home for your vacation this year. Who knows, your favorite destinations might be closer than you thought.

9.       Make it a date night at home more often. Instead of going out for a movie and spending up to $20.00 a ticket in some areas make your own date night at home. Pick up a rental, pop some popcorn, and enjoy Hollywood from the comfort of your own living room. (I won’t hold it against you if you see Star Wars: The Force Awakens in the theater!)

10.   Time to get thrifty! Second-hand doesn’t equal second class. Take a peek at your local thrift stores, you just might find they have exactly what you are looking for at a fraction of the price you would pay if you were to buy brand new. (I enjoy reading and purchase all of my hardcover books for a dollar or less at local thrift shops.)


While this list can be a bit challenging I can attest that if you put forth the effort early on in the year or even start these habits now that you will be in a better financial position next year and that can only lead to a healthier less stressed you!

Happy Holidays and I wish you a very successful 2016!


Rick Munster

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