December 30, 2008

You know the new year's resolution most people make? According to the experts, it's to loose 15 pounds, but here's something that's really important to trim: your spending.

Can you cut it 15 percent?

Give it a try. For one month, write down everything you spend. Everything. You will be amazed. Then, start cutting things you see again and again on the list that you can live without, like dinners out, coffee runs, or whatever you can spare. I'm serious. You can save a bundle.

You can also thin out your wallet by saving change. I know if I have quarters, I plug them in the vending machine for a soda at work. Instead, try putting them in a jar.

You may not think you'll save a lot but listen to this. Our assignment manager Jill Maxwell did this, and her husband bought a flat-screen TV for their bedroom with it.

It's important that you try to save more in 2009. The experts say you need enough to get you through a couple of months in case you lose your job or get sick. That includes paying the mortgage or rent, insurance, groceries, and everything else you have to pay. It adds up.

Lastly, the most important thing you can do right now is work on your debt. It might take you a while, but you'll be happy you stuck with it.