Going into 2021, it’s essential to decide on New Year resolutions that you can stick to. Here’s how you can follow through with your resolution to save money.
The start of a new year always brings a semblance of hope. With 2020 being the crazy year that it was, some of you might be hoping for a brighter outcome in 2021. With that in mind, you’ve likely already set a few new year resolutions to keep you motivated.
But it’s one thing to resolve to do something in your mind. Unfortunately, sticking to your resolution and achieving your goals is a different ballgame altogether. For instance, while many people want to improve their financial health every year, only a few manage to achieve it.
Among some of the more valuable lessons that 2020 has taught us is the value of money, and how imperative it is to prioritize savings and judiciously spend your money.
That’s why in this blog, we’ve outlined a few useful ways to help you save more money in 2021. Let’s take a look.
1. Get Your Budgeting Right
First things first – you can’t save money without first setting a practical budget for your daily expenses. Carefully analyze your recurring expenses, such as rent, utility bills, groceries, etc. Define a realistic monthly budget based on these expenses. Don’t forget to allocate a contingency fund for emergencies.
Next, tally your budget against your monthly income and find out whether you can afford all the expenses. If this isn’t the case, find out areas where you could cut costs. While setting an overarching monthly budget is essential, you should also do a weekly breakdown of your budget. It’ll become easier and more efficient to manage your expenses.
2. Track Your Expenses
Setting a budget is of no use unless you determine whether you’re following it. The best way of doing this is to maintain a record of your actual expenses and compare them with your allocated budget. If the expenses exceed your budget, it may be time to look at some serious cost-cutting alternatives.
3. Save on Fuel Expenses
Whether you’re a driving to work, running errands, taking a road trip, or just needing to get out of the house, you may have noticed an increase in your car’s fuel costs. Wouldn’t it be great if there was a way to save money every time you visit a fuel station? Well, we’ve got some GREAT news for you…you can!
Whenever you use your DK Debit Card at any ALON/DK fuel station, you can save up to 5 cents per gallon. Considering that an average automobile needs more than 18 gallons of fuel, this could mean plenty of savings.
Don’t have an ALON/DK Debit Card yet? Request one here, or stop by your local ALON/DK store and pick one up today!
4. Create an Emergency Fund
Do you tend to spend a majority of your funds at the start of, or towards the beginning of each month? If so, it may be time for you set aside an emergency fund for any unprecedented expenses. An easy way of doing this is to open a new savings account and deposit a portion of your earnings into this account each month or pay period. Before you know it, you’ll have a substantial emergency fund to help you with any unexpected expenses, or spontaneous shopping sprees.
5. Shop What You Need
With the uncertainties and altering changes that ensued in 2020, many people’s incomes, spending and lifestyle habits were impacted greatly. With this ambiguity, one of the bigger realizations and possible actions taken by you in 2020 was the lack of desire for unnecessary or impulsive spending.
By resisting the temptation to indulge in retail therapy every now and then, and making sure to not overspend on unnecessary items or expenses, you’ll end up being able to save quite a bit.
Also, don’t forget to leverage stackable discounts whenever you’re shopping. Whether you’re purchasing groceries, clothing, or household supplies, check whether any discount coupons are available.
One of the ways DK/ ALON can help to reduce some of your expenses incurred each month is to help you save on fuel. Whenever you refuel at ALON/DK fuel stations, you’ll be eligible for a savings of up to 5 cents per gallon. Likewise, by shopping at any DK/ALON convenience store locations using your DK Debit Card, you’ll get a 2% discount on all in-store purchases.
Check your debit/credit card and find out whether you’re eligible for any additional discounts. For more details on the DK Debit Card, or to request your own card and start saving today, visit https://dkdebit.poweredbyzipline.com/.
6. Prep Your Meals
Preparing a weekly meal plan can go a long way to help you cut down unnecessary takeaway expenses. Fetch your groceries on the weekend and don’t forget to meal prep for the entire week. It’ll ensure that you don’t return home from work and find an empty refrigerator.
You can take this a step further by designing your meal plan based on seasonal fruits and vegetables. Such ingredients are often less expensive and readily available. This is a great way to eat healthily, incorporate local produce into your diet, and save some money as well.
Be sure to stop by your local ALON/ DK convenience store to grab any last-minute or additional food and beverage items to complete your meal.
7. Pay Your Bills On Time
It is important to try and always pay your bills on time or prior to their scheduled due date. Every time you pay a bill after the deadline, you’ll likely be charged a late payment fee. If you delay bill payments every month, the costs could add up pretty quickly. Also, it could adversely affect your credit score.
That’s why you should make it a point to pay all your bills on time. This includes all utilities, as well as your credit card bills, and any additional monthly expenses. If you’re someone who tends to forget deadlines, set timely reminders for yourself – whether it be on a note pad, calendar, or mobile updates. Be sure to review your budget and reach out to the necessary contacts/ professionals to assist you and help answer your financial questions or concerns.
Regardless of your occupation or working status, it’s important to understand the value of money, especially during uncertain times like these. Even if you have the resources to cover all of your expenses and make ends meet, this may not always be the case. That’s why it’s important to understand your spending habits, and devise a plan to minimize your expenses and save more money.
Create a monthly budget and allocate dedicated funds for groceries, leisure, transportation, etc. Find out whether you can reduce expenses in certain areas. Simple lifestyle changes, such as eating out less, and cooking at home can go a long way to help you cut costs. Also, make sure you shop wisely and utilize various stackable discount options.
So what are you waiting for? Enroll your ALON/DK Debit Card today, or request one and start saving today!