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It’s January which means a lot of us recently made resolutions that involve savings targets and reducing debt. SaveUp is another resource that helps you do just that. I recently wrote a post for SaveUp’s blog titled “7 Tips to Keeping Your Savings Resolutions in 2012”. I’d like to touch on some of those concepts as they apply to FatWallet and SaveUp.
How can you use these innovative services to help you stick to your financial resolutions?
Strategies:Create strategies to accomplish your goal. Post them in a place where you see it frequently and devise fun reminders to keep you on track. Maybe it is taking action daily or weekly. It could include playing SaveUp or checking FatWallet’s daily deals. Think of a variety of strategies, including consistent habits, that will help you accomplish your goal.
Perhaps you’re spending less on consumer items because of FatWallet . . . I’m thinking cash back on purchases you already make! You can put those dollars in an account linked to SaveUp and earn points to win prizes!
Buddy System:Find a friend who has a similar goal. Perhaps you’ll find someone that shares an interest in saving money and reducing debt in FatWallet’s finance forum. Having a support system can hold you accountable and offer resources to help you achieve your goals.
Reward:Honor the accomplishment of your goal with a fun and memorable activity or item. Be sure that the reward doesn’t conflict with your savings objectives. SaveUp has a variety of rewards too. They even have prizes related to common savings goals . . . like $5,000 for paying your bills or $25,000 toward a child’s college fund! With a reward in mind sacrificing for your goal doesn’t feel restrictive because you have something enjoyable to look forward to.
For those of you who are unfamiliar with SaveUp, it is a rewards program for saving and reducing debt. SaveUp and FatWallet share the same objective - to help you save. They both take a different approach, allowing you to use both to effectively tackle your savings goals. Like FatWallet, SaveUp is free! To begin, you link your accounts (nearly any US institution that has online banking services). Next, you save or reduce debt to earn credit. You can use these credits to win daily prizes, including a $2,000,000 jackpot! You can learn more and signup at Saveup.com.
We hope that these strategies help you meet and exceed your savings goals for the New Year. We wish you a fruitful and prosperous 2012!
This is a guest post by Catherine Hawley, CFP® from SaveUp.com, the first nationwide rewards program that encourages Americans to save money and pay down their debts. With every positive financial action, SaveUp users are awarded credits that they can use for the chance to win vacations, cars, electronics, cash and a $2 million jackpot.
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