It’s a hard word for even the savviest of savers to say: budget. However, it is definitely a necessary evil. Without a budget saving for a deposit or lump sum repayment is impossible.

So, in the new year instead of making the resolution to start a new hobby, why not instead make 2017 the year of sticking to a budget. Whether you’re a seasoned budgeter or just starting on your saving path, these simple ways to save money will definitely help you stick to your new year’s resolution come January 1st. One important first step to take that might sound a little tedious is to spend a week writing down everything you spend your money on, yes including your morning coffee! At the end of the week, look at where most of your money is going and find ways to cut back.

1. Set a goal. This is the most important planning tip for any budgeter. Setting yourself a target goal and a date to have it completed by will not only keep you motivated but hold you accountable. Make it realistic, say 6 months or even a full year (saving takes time!) to hit your target. It’s also important to make your target figure reachable, can you really save $30,000 in 6 months or is $15,000 more realistic? Figure out what is doable for you and then make it happen!
2. Track your progress. Every week or month take note of how much you’re saving; keep checking back to see are you on target to reach your goal. If not, find out why. Did you splurge on something lavish last week that has set back your goal a few weeks? Don’t panic. Take it into account and make sure the following week you pare your spending back to compensate.
3. Spend less, reuse more. It might surprise you how you can make do with less. If you’re a spendaholic, then learning to reuse the items you already have in your possession can be a struggle but also necessary. One way to save a lot of money is through your gym membership, or lack of one. While some are affordable others can mean the difference between reaching your target and will, not. If you rarely use your membership, cancel it and instead opt for exercising at home. You’ll save money on membership and petrol!