12 Days of Savings: A Festive Guide to Small Money Wins

With one small step every day, you’ll be well on your way to saving more, tackling debt, and meeting your financial goals in the new year.

Day 1: Make Financial Resolutions. Choose three to five financial goals for the next twelve months, which might include paying off credit card debt or starting an Individual Retirement Account (IRA). Be sure to write down your goals so you can look back at them often!

Day 2: Download a Budgeting App. You’ve got nothing to lose—and a whole lot to gain—by trying out a free budgeting app. Options like Rocket Money, You Need a Budget and EveryDollar help you track spending and cut expenses, so you can reach your financial goals faster.

Day 3: Start a “Buy Later” List. Impulse buys can quickly eat away at the best laid savings plans. Today, start a “buy later” list where you can note items and save for them slowly, so you don’t miss out on long-term money goals by giving in to short-term wants.

Day 4: Check Your Credit Score: Good credit plays a key role in helping you secure a loan, rent an apartment, and get the best rates and rewards on a variety of financial products. Check your credit score often to understand your overall financial wellness.

Day 5: Automate Your Savings. It only takes a few minutes to set up an automatic monthly transfer from your checking account to your savings account. Whether it’s $20 per month or $100, automatic transfers can help you prioritize saving over spending.

Day 6: Set Up Online Bill Pay. With online bill pay, you can schedule payments ahead of time and receive bills electronically, which means less stress and less opportunity for late payments which can affect your credit score. Activation only takes a few minutes.

Day 7: Cancel Unused Subscriptions. Subscription services can eat up your budget, without you even realizing it. Take half an hour and do a full subscription cull—cancelling services you haven’t used in a month, and calculating the cost of other services to decided what might be cut.

Day 8: Make a Weekly Meal Plan: Eating out is a major source of spending, especially as costs continue to rise. Today, make a meal plan for the week and go grocery shopping. You might be pleasantly surprised at how much money can be saved by doing meals at home.

Day 9: Get Help With Debt. High-interest debt can’t be solved in a day, but one small step you can take is speaking to a financial counselor. Harvard FCU members get free access to the GreenPath Financial Wellness Program, including debt counseling and a debt management plan.

Day 10: Do a “No Buy” Day. Can you go for an entire day without making a single purchase? Introducing one or two “no buy” days into your week can have a significant impact on weekly spending. Give it a try and see if you can make “no buy” days happen more often.

Day 11: Chat About Scams: Sadly, the holiday season often sees an uptick in scams. Chatting with friends and family members is an excellent way to keep one another informed about the latest scams, and remind each other about how to prevent fraud.

Day 12: Save for Retirement. Starting an Individual Retirement Account (IRA) will help you save for the future in a tax-advantaged way. Or, if you already have an IRA, get in touch with your employer about matching benefits to ensure you’re getting the most from your workplace retirement plan.