5 Personal Finance Experts Share their Top Money Saving Tips for 2013

January 2nd, 2013 - Posted by in Blog, Saving Money

1. Start living the debt-free life NOW

MP Dunleavey is the Editor of the Daily Worth, a community of women who talk money, and a place to get practical money saving tips and inspiring ideas to help you earn more, and spend smarter. Join other women taking charge of their money and their life.

“Having been in debt myself (years ago), this subject is always a fave. My favorite tip is this: Start living the debt-free life NOW. Meaning: In order to get out of debt, you have to give up the in-debt lifestyle and way of thinking (and shopping), and start living and spending as if you had no debt right now. Walk yourself through it: If you had no debt right now, you’d be living on your income, you’d be paying bills on time and saving, you’d be enjoying life without overspending (if that was a cause). Instead of always saying to yourself, ‘I can’t wait until I’m out of debt,’ imagine you’ve crossed that bridge and your spare dollars/pounds/euros are no longer being thrown down the gullet of the debt dragon–you’re putting wads of cash into circulation in your own life. Wow. It’s an amazing and inspiring exercise.”

Follow MP @MPDunleavey

2. Make Sure You Have a Reason to Save

david-ning

David Ning is the founder of Money Ning a personal finance blog that helps individuals reach their retirement and financial freedom goals. Learn how to become debt free, build wealth over time, and understand how financial choices impact your life.

The most effective way to save is to figure out why you even want to save in the first place. Once you have a clear understanding of why you want to save and reduce your debt, then you will find a way to keep more of your money. In other words, want something enough and you will make it happen.

Follow David @Moneyning

3. Always See the Big Picture

Kelly Whalen is a Money & Mom blogger at The Centsible Life, a community, and blog at the intersection of money and motherhood. The Centsible Life explores topics as varied as college savings and fashionable finds on a budget.

My tip is to think long-term. We often think it’s the small decisions that make the big difference (the latte factor), but thinking in terms of a whole year can help. For instance saving $100 on your cell phone bill adds up to $1,200 for the year. Thinking this way will help you see the big picture, and help you ‘find’ money in your budget to pay off debt.

Follow Kelly @CentsibleLife

4. Make Use of Online Discount Services

Bob at Christian PF

Bob Lotich is the Founder of ChristianPF. The mission of ChristianPF is to make, save, grow, and give money (not necessarily in that order). The site will help you manage your money wisely and according to timeless Biblical principles.

Cutting expenses is one of the best ways to dig out of debt for most folks, but it requires a little work. Doing things like shopping around for lower insurance rates, negotiating with (or firing) your cable company, using online discount services like Ebates, or trading in your car for an older one with lower payments are all great ways to save money, and free up some cash to get out of debt in 2013!

Follow Bob @ChristianPF

5. Find an Accountability Partner

Jeff Rose is an Independent certified financial planner, CEO and founder of Alliance Wealth Management, LLC, a Registered Investment Adviser that specializes in comprehensive financial planning.

Find an accountability partner – a “battle buddy” – that knows everything about your financial situation. That way they will prevent you from digging yourself further into debt and be your voice or reason before you buy something else you don’t need.

Follow Jeff @jjeffrose

Make 2013 the year that your family is financially secure

Follow the money saving tips of these personal financial experts and make 2013 count!

Have a money saving tip of your own you want to share? Drop a note below in the comments – the best one will win a copy of The Richest Man in Babylon (kindle or paperback version – competiton ends Jan 30th).

For anyone looking for even more money saving advice – check out our handy little how-to guides.


  • melissa

    I always pack a lunch and flavored water at home to bring to work as I work a job where I go out to eat alot. I was spending 60.00 a week before I started doing this.

    • http://www.happier.co.uk/members/seanmccolgan/ Sean McColgan

      Good call Melissa! Living in the UK it’s easy to spend £40 a week on lunch + coffee at work.

      Putting that into context £160 for 20 meals/20 coffees – that’s not good value for money.

      Anyone looking to cut their weekly food bill – have a look at our guide on on slashing your grocery shopping bill (save £3,666 per year).

  • pinky

    Its a totally good site to know about the debt , we need to make the best use of time ,money and resources to our potentials …

  • Amanda

    Having a credit card is a good idea – but only if you use it to only buy what you can afford and pay the balance in full each month. This way, you can establish a good credit history without living on credit. This is useful for things like a mortgage (which isn’t “bad” debt, and sometimes a mortgage payment is cheaper monthly than rent!)

  • araju

    This site gives best information of finance and shares.I like this information to get online markets details….

  • Nitin kumar

    Use your credit card at websites where you can get cashback offers and sell those things in their original state.

    • http://www.happier.co.uk/members/seanmccolgan/ Sean McColgan

      Pretty cool idea Nitin – thanks for sharing!

      Another twist on this – keep an eye on hot trending (in demand) products that are of limited stock and sell on ebay (reap the profits).

      The Nexus 4 (16GB) phone is sold out on the U.K (retails at £279) you can find on ebay being sold for over £350!

      How do you pick up the product in the first place? Search for “product name + alerts” on Google. You’ll more than likely find an app/browser extension that will notify when the product is back on sale, snag it and get lt listed on ebay/amazon asap….

      Obviously there is risk involved (market becomes flooded with the product)! so this is one tip for the entrepreneurial at heart :)

  • Karliah

    I think that everyone needs to keep in mind these are some pretty major changes, and they will take time (especially that “live debt free” one!) I think the next few ideas will help change that really bad habit of living the debt life style–know what you’re saving for, think of the big picture, try and keep long term goals in mind when you get the urge to spend money or think you just can’t do without something.

    What worked for me and my husband was hitting rock bottom (so there was no WAY we could justify buying anything else). After a while of really floundering we got out head above water by learning to enjoy what we have and then enjoying the little victories–like when we were able to go a week without buying food because we got creative with our meals. Or how we made all of our Christmas presents from stuff we already had at the house so we didn’t have to spend a cent. Or actually having a little extra money at the end of the month because of all of our hard work and watching our credit card balance get a little lower. I think it’s really just a mind set, and it’s really hard to change. Good luck everyone!

    • http://www.happier.co.uk/members/seanmccolgan/ Sean McColgan

      Hey Karliah-

      Thanks for sharing you insights and story.

      Absolutely love this:

      After a while of really floundering we got out head above water by learning to enjoy what we have and then enjoying the little victories–like when we were able to go a week without buying food because we got creative with our meals.

      Enjoy what we have! – Why does everyone seem to be chasing the wind?

      Great advice!


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