Here are a few tips to save you money in 2020. Change your mindset, change your future spending habits. A new year gives us the perfect excuse to buckle down and find ways to start saving.

Let’s Get Debt Free

The biggest step you can take it working to become debt-free. You make think this a goal outside of your reach, but taking a step in the right direction is always a positive step. How far in debt are you? Do you have mortgage, car loans, and credit card debt? Once you take control of your income, and pay attention to interest rates, you can quickly work toward becoming debt free.

You want to start with your debt that has the highest interest rates. Usually this is credit card debt in most cases. Often starting with smaller debts can be a great starting point. Smaller amounts can be paid off quicker, and you can then focus on larger debts.

Let’s Start Saving

To some people, saving is second nature. For others at the end of the day, there may not be a lot in your budget to save. You can learn some money saving habits, that will allow you to start saving. By using coupons, starting a budget, and waiting for sales and discounts, you can be successful.

Everyone needs to have some emergency money set back, for just that any emergencies that can arise. Having some money squirreled back keeps us from having to put those emergencies on credit cards. What if you unexpectedly loose your job? What if you water heater breaks? You need to have at least $1,000-$2,000 put back in savings for these types of problems. Build cup a savings that you feel you are comfortable with.

Mortgage Payments

Contact your bank and ask about making extra mortgage payments. Sometimes if you make a payment every two weeks instead of once a month it can reduce your payoff amount. Be sure to ask them about making extra payments throughout the year. Why not reduce the amount of payments and interests you owe the banks? Again look at your higher interest debts before working on other debt with lower interest rates.

Find Your Side Hustle

It may be helpful to find a hobby that pays you in return. Who couldn’t use a little extra income? Nothing beats the peace of mind of having a second job, or in today’s world what we call a little side hustle. Even if it is just a few extra hundred dollars each month, this can help you put more money back. Why not use this extra income to pay off your debts sooner?

Create a Family Budget

Starting odd 2020 with a budget is a great way to lay out your income and debt ratio. You don’t have to have a spreadsheet, or anything complicated to get on track. It can be as easy as having envelopes, with each part of the budget labeled.

The hardest part is committing to this budget. Cutting back the unnecessary spending such as eating out. Let’s say instead of getting Starbucks every day, you made your coffee at home. When you spend $5 a day on coffee, that’s $35 a week, $140 month, can you believe you would save $1,680 a year. When you look at the big picture, cutting back those expenses can make a huge income in your budget.

Your End Game

Just set your personal goals, be consistent, and remind your self of the goal. When your debt is paid down, you will continue to build that savings account. That money you would be spending on credit card debt, will now go to that Summer vacation you have always wanted!

Here are some amazing printable online resources from Smart About Money for you to get started.

Budget Worksheet

Income and Spending Worksheet

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