New Year resolutions that will make you richer

As we have talked about repeatedly here at Make Money Your Way, there are two ways to get richer, and increase your net worth. The first one is making more money, and the second is to reduce your expenses. While I am an advocate of making more, since the possibilities are endless, I also don’t see why you should work more to make more, just to spend it in things you don’t really need. Paying more than you ought to for a service or a product means you do not optimize your income.


Courtesy of

Courtesy of

With the new year, you have probably made a few resolutions, like exercising more, or being more organized. A few of those resolutions can actually save you money, with little effort.


Reviewing your financial accounts


First thing I tend to check in the new year is if my savings accounts are earning the best interest rate possible. If not, you are missing out on some money. The next natural step if you are carrying a balance on your credit card is applying for a 0% deal, which can save you lots of money on interest over the year.

Switching from a 0.5% interest savings account to 1% can earn you an additional £5 per £1,000 saved. On the other hand, the savings with a 0% balance transfer are much higher, if you had a 20% interest credit card with that same £1,000 balance and are able to get a 0% deal, you can save a huge £200. It only takes a phone call or a quick online application.


Stop smoking


One pack a week at £7 and you would save £364 over the year. That is enough for a nice weekend getaway, or a £25 diner every single week. There are lots of programs, including treatments from the NHS or electronic cigarettes to help you do just that. Those new portable vaporizers(Go to to see the most advanced vaporizer in the market) too are becoming the trend. A lot of people say it’s a healthier alternative and it’s a very good way to take baby steps on finally quitting to smoke.


Cycle or walk to work


If you are able to cycle or walk to work, you probably have a very short commute anyway. But your car costs money in petrol, insurance, parking… I rent my parking space to a person who works near my house for £80 per month. While he lives a bit far to walk to work, he could ride the bus on a £30 monthly pass, and walk from the bus station, keeping fit AND saving £600 per year.


Stay in


It is much easier to get a quick take out or grab a beer and snacks at the pub after work than coming home to cook, you are tired, and the convenience is really appealing. However, two such nights a week at £15 quickly add up to £360 a year!

You can still have fun and stay social on less, inviting your friends over for a bottle of wine or to watch a game instead.

And instead of that £5 lunch you buy every day at work, you can pack your diner leftovers to eat, and save another £1,200 per year (5 lunches at £5 per 48 weeks).


Most of those resolutions will not impact your quality of life but can help you drastically improve your finances. You can also check Savvy Scot’s New Year financial boot camp for more money saving new year resolutions.

Thank you for reading! Please let me know your thoughts in the comments below. Never miss another post and subscribe via Pinterest RSS feed or email. Or come and say hi on Facebook and Twitter

About Pauline

A 30 something French girl looking for ways to make more money. I blog about real estate, side hustles, improving your career, investing and making money online.

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  1. Hi Pauline and thanks for a thoughtful post.

    For 2014, I have decided to focus more on my online income and downsizing my expenses. Even though my income is pretty low, I seem to have spent a lot more throughout 2013 than I originally anticipated and will be doing a couple of the tips you suggest.

    I don’t smoke or drink which saves me a heap of money right there, and during the spring, summer and fall, I am always on my bike or walking to where I need to go. But I’m also a home-body so my outside expenses will be pretty much the same.

    What I tend to spend a lot of money on is eating out, so I have decided to save money by cooking at home more and only eating out on special occasions. Not only will this save me money, but it will feature prominently in my weight loss goals of 2014 as well :)

    Thanks again for the great tips Pauline and take care. Happy New Year to you and yours!

    lyle @ The Joy of Simple recently posted…2014 – Time To “Git ‘er Done!”My Profile

    • Good luck with your goals Lyle. Eating in is easy if you start enjoying food preparation. It is much cheaper to buy quality ingredients and prepare a nice meal at home than eating junk food out.

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