Foximus – frugal living tips - Financial New Years Resolution

Since we are into the new year, I thought I would share my new years resolutions regarding money and finance and hopefully get some good ideas from you guys as well.

1. Do not buy anything on credit that I don’t have the cast for. I only use my credit card for health care costs like the dentist. I will pay with the card, then pay off the card once my insurance company sends me a cheque. I also use it for gas/coffee if I forget any other forms of payment. I will not use it to buy a new tv or anything like that.

2. No new credit cards. I have one mastercard. I will not be getting any more no matter how tempting. Store credit cards are evil and a new stereo or big screen tv is not worth going into debt for.

3. No credit increases. My credit card had a limit of $1000. That might seem small, but it keeps me from making a silly purchase and I have never been in an emergency where I needed more that that right away.

4. Keep being frugal! I am still always going to buy on sale, and look for the best deal or way to save money.

5. Generate more income. I am going to find a part time thing to do to generate a little more income this year.

6. Post more often. This last one might not fit into this category, but it is something I really want to focus on this year. I really like writing for this blog, hopefully I can keep up a nice pace this year.

So what about you? Have any new years resolutions to help all of us save or earn more money this year?

8 Comments Already

Kelly Said,

January 14th, 2009 @1:00 pm

I like to tell myself that I want to pick up another part time job but I just don’t think it’s feasible with my schedule already (i go to school full time and work 20 hours a week at another job.) Do you have any ideas or tips on LEGITIMATE ways to make money in my spare time without committing to a part time job? (I would love it if the whole “getting paid to take surveys” thing was legit)

Faisaliya Said,

January 15th, 2009 @8:17 am

Generate more income. Generate more income.

I’m Trying!!

Jason Said,

January 16th, 2009 @11:42 am

I think thats a big problem, there are only so many hours in a day and once they are full you can’t really earn anything else. But seeing as you are going to school, you will eventually earn more per each hour worked. The only other thing you can do once you have no more time to work is to invest your money and have it do the work for you.

The only thing I personally invest in right now is my RRSP which I put $210 every 2 weeks. Not sure what that will equal when I retire. Perhaps I should find out and write a post about it!

New Data Recovery Toolkit 2009 Said,

January 22nd, 2009 @5:52 am

LOL… What a picture… He must be proud of his belly.

January 22nd, 2009 @10:06 am

Either that or he is trying to stuff it back under his shirt

kc walsh Said,

January 24th, 2009 @1:49 pm

hey there, As far as new year resolutions go, the points that you have listed out are great. Having a credit card is great, the problem is that we often end up purchasing useless and expensive items with it, items which tend to be notoriously expensive.
Yeah, I do agree with you on the $1000 card limit, makes sense. It is important that we use the card only for emergencies and I do think that the $1000 limit should be more than sufficicent to meet the emergency. It is better to use debit cards or cash for making purchases and cut out the credit card altogether.