Even thrifty people are pinching pennies today. I know money’s on a lot of readers’ minds this New Year’s. I thought I’d share some practices that I use in my real life to keep a healthy bank account. (And readers, feel free to agree or disagree with any of them! These work for me, and are intended only as inspiration.)

No Credit Cards

Credit cards can be dangerous for the impulse buyer. I used to have one, and I made every effort to pay it off every month. This worked for a while, but one month came along where I wasn’t able to pay off the entire bill at one time. So, I had an honest conversation with myself and decided that it was time to ditch the card and move on with my life. I aim to keep an emergency fund of about three or four months’ worth of pay, and that covers all of the unexpected expenses that might come along. (I don’t miss the points, and I’m debt-free!)

Automate EVERYTHING

Do you forget to add to your savings account? Most banks will allow you to automatically draw from your checking account regularly. I put away 10% of my pay into each my savings and retirement automatically. When I do my budget, I treat the transfer the same as a bill. That money is gone and no longer touchable! (Unless I have a money emergency, such as car trouble.)

Automating these monthly transfers (and all of your bills) will help you budget each month, as those numbers should remain fairly constant. This reduces your stress when you look at your incoming and outgoing expenses every month. 

Rethink Online Purchases

Are you also an online shopaholic? My trick is to go to my favorite sites, fill up the cart, then let those items sit in the cart for 24 hours. I often find I don’t even want most of the things I added. If I do, I buy it as a treat for myself (provided I’ve budgeted enough!)