Make 2014 The Year You Get Ahead With These Prudent Financial Resolutions

by Krantcents · 10 comments

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Can you believe it? It’s 2014! Only one year prior to the year referenced in Back to the Future II, where the picture was complete with flying cars and taxis costing thousands of Dollars due to inflation running unchecked.

While we might not be exactly to the future that is alluded to in that movie, there are some financial goals/resolutions we can aspire to in 2014 to make this year very productive. Read below to find out more:

  1. 1.      Get a Credit Card That Pays YOU!

How does the majority of normal, every-day folks end up with their current credit card? Often, the credit card a person has is the result of a mixture of limited supply (whatever bank would take on the risk of giving someone without much credit history their first card) and advertising by the bank that they are with when they are at a young age.

However, as we get older and our credit history matures/improves, we tend to outgrow these starter credit cards, which often have high interest rates and no rewards. Well, 2014 may well just be a great opportunity to ditch your current credit card and get in to a cash back rewards card that pays YOU money to use it.

  1. 2.      Save Money on Food

For most people, one of the most significant monthly cash outlays (aside from housing) is the money we pay to sustain our nutritional needs. However, the issue that comes up in this space is that many people often pay WAY too much for food, either due to the fact that they eat out too much, go to fancy restaurants, or do not purchase their groceries at the most cost effective place.

Regarding eating out, this one can really get you in to trouble. For example, it is fairly easy to purchase generic brands and cook meals at home for around $2 per meal. However, good luck trying to find food at this price at a restaurant. After you finish paying the tip and whatever drinks you purchase, the bill for a one person lunch can easily get to $15!

Photo by:  Flickr

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The Frugal Flirter January 26, 2014 at 11:33 am

Definitely making saving money on food a top priority for me this year – curbing the meals out and trying (!) home cooking.

Krantcents January 26, 2014 at 12:50 pm

Meal planning helps us save money on food. We still go out twice a week, but limit our meals out to $200-250 a month.

Jon @ MoneySmartGuides January 27, 2014 at 5:22 am

I think food is a big one for many. Not only just going out to eat but also throwing away food that is never eaten. My wife and I have gotten good at buying what is on sale at the grocery store each week and planning meals based on that. We also try to create meals with whatever we have in the bottom of the freezer that gets lost during the times we stock up.

Krantcents January 27, 2014 at 6:59 am

Good job! My wife has used meal planning for more than 40 years. Aside from the financial benefits, I look forward to certain meals.

Nick @ Step Away from the Mall January 27, 2014 at 8:37 am

Our local grocer, who has the lowest overall prices – BY FAR – Just announced a no-card and no-coupon “4% off your total bill until 12/27/14” promotion this year. Pretty sweet!

Krantcents January 27, 2014 at 4:36 pm

That is great! I would still check prices occasionally. Costco is known for low prices, but not for everything. I found items there I should buy at Target because they are the same price and I get my 5% instant rebate on top of it.

The First Million is the Hardest January 27, 2014 at 3:25 pm

Saving money on food is a big goal for us this year. Both the amount we spend when eating out and the amount we spend at the grocery store need to be reigned in!

Krantcents January 27, 2014 at 4:37 pm

A few years ago, I started to buy chicken and some other food items at Costco once a month. For health reasons, we include a vegetarian meal once a week too.

Barbara Friedberg January 28, 2014 at 4:11 pm

With the drought here in CA, I expect food prices through the roof in the coming year. I’m thinking about how to combat the upcoming higher prices.

Krantcents January 28, 2014 at 5:38 pm

Good point! My wife and I started altering our meal planning when gas (oil) prices started going up.

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