The New Year is here and we are all striving to get ourselves off on the right foot by committing to the right resolutions. However, not all resolutions are created equal. While most will improve your health or your mental well-being, there are a few in particular that will save you thousands of dollars over the course of your life in addition to improving your mental and physical well-being. A few of the most cost-effective New Year's resolutions include:
Losing Extra Pounds – $10,000 in Lifetime Medical Costs
Being obese is no joke. There are higher food bills, higher insurance premiums and higher medical bills. So if you are looking to save a substantial amount of money, consider joining a gym and committing to a healthy diet plan. You'll look and feel great, and be able to put several thousand extra dollars into your retirement account.
Quitting Smoking – $1,200 in Cigarettes Annually
Cigarettes, emphysema, and lung cancer are just a few of the typical costs associated with smoking. However, the costs can be even higher if your health insurance provider finds out that you are a regular smoker. So give yourself back a minimum of $1,200 by putting down those cigarettes once and for all.
Giving Up the Night Cap – $200 in Monthly Bar Tabs
While we all may enjoy the occasional drink to unwind, enjoying a few regularly or hitting the bars each weekend can lead to steep bills. However, if you have vowed to give up drinking for the new year, you can save yourself nearly $1,200 annually and improve your overall health. So before you order another fancy cocktail, think about what that money could be spent on instead.
Going green and finding a new job are also great resolutions, but they generally require additional investments which may make their return a little longer to see. With these resolutions there are generally solar panels to buy or tuition at one of many pharmacy technician schools to pay for – which aren't exactly cheap. However, by giving up vices and dedicating yourself to a healthier lifestyle, you can actually improve your overall quality of life and increase the size of your savings as well.
I took a moment to look for the money you are describing and realized it was in my investments. It is growing over time and much larger than the numbers you mention. Hooray!
Emily Hunter says
All of these are wonderful ways to keep more money in your pocket. I’ll propose that one needs something to replace the activities that you’re removing, just because nature abhors a vacuum. Checks and balances are absolutely vital to making it happen.
Money Tips says
I believe that if I will follow your tips it will not save me some dollar but also add few years to my life! Great tips. The only thing that is needed is determination here.