Saving the pennies in the New Year is so important. Sometimes we overspend at Christmas and it’s easy to get into debt or need to make repayments on our credit cards. Saving up money doesn’t have to be difficult but it can certainly be tricky! There are plenty of money saving challenges that can be adopted to any lifestyle but it’s also important to understand that if you are unable to do the one dollar a day challenge then that is OK. Save what you can, when you can and do not feel pressured by society or friends. Making money feels good, so work out the best way to save and make money on side hustles to feel happier and your bank account healthier!

How To Effectively Save 

1. Have a money pot – this sounds like a juvenile method but it works. When we were young we possibly had piggy banks where we kept any spare coins, birthday money and by the end of the month or year, we had a certain figure that could be spent on whatever they want. This can be the same for adults. Have a little pot or place to put spare money, it could be coins at the bottom of your bag, found in your car or in your pockets. You could use this money to put into your savings account or to spend on food or bills. 
2. Collect coupons – coupons can be great, you can collect them from newspapers or magazines and you can use them in supermarkets, for clothing or anything of choice. Look out for them in magazines as well as looking out or them online. Many websites have online coupons and discount codes that you can use to your advantage when the time is necessary. 
3. Gamble responsibly – as long as you gamble with responsibility, you can earn a little money on the side if you’re lucky and it can also be a good way to wind down at the end of the day. You could play Thunderstruck slot or look at local arcades and places to earn a little money. 
4. Budget – budgeting sounds difficult but it doesn’t have to be. Work out your income and then look at your outgoings and budget every month to see how much you have left over for yourself. It is important to still be able to enjoy your money at the end of the month, on an item of clothing, new computer games, or even a nice meal out. 
5. Sell old junk – selling things you don’t need online can be a great way to increase your income. 

If you save up your finances well you can easily save thousands per year by implementing a better lifestyle and using your money wisely. You can also set up a bank account which allows you to automatically transfer pennies into another account and over the years you will accumulate a certain amount of money which you could use to pay off debts or put towards a new car.