Penny Saving Goals for 2013

Penny-pinching isn't just for Uncle Scrooges and misers of this world. In this time of uncertainties and economic crunch, setting aside some money is a wise thing to do.  But we're not talking about being a miser here. We're talking about penny-savings. Saving money isn't a niggardly close-fisted thing to do -- it's about saving pennies to be able to live your dreams. Save for the right reason – for education, for travel, for getting into a hobby. Save for anything to boost life in general --- and you will realize you can actually pull it off.

Begin by paying all your debts. Make it a goal to wipe out all your credit card debts each time the bill comes. Imagine four empty jars in front of you once your income arrives. One jar is for paying off your debts, one for investment – buying stocks perhaps or investment for house, one for spending – your daily needs – and one for saving for a short-term goal.

Trim down your long-term savings goals into smaller goals. Save to pay for a quarter of your mortgage perhaps? Save for a dream vacation maybe? Save for something that will enhance your life.

Save for something that motivates you…something that will work for you. Something you want to do badly—identify your hot button, so to speak. What makes you tick? Find that out and that is the trick in becoming a successful penny saver.

If you have the set things in mind, it's easy to become disciplined in saving at least 5 to 10% of your income. It's not going to be easy at first but think of why you're doing it and if you don't do it, ask yourself who will do it for you?

Of course, take on a frugal life. Know your priorities. And prioritize your savings. Do not let consumerism eat you up. Spend within your means. You've heard this before but this principle rings true – live within your means. Don't spend more than you earn. Make it a goal to spend less than you earn. Maintain this lifestyle even if you get a higher-paying job.

You'll be pleasantly surprised where these penny-saving tips can bring you. Make 2013, a penny-saving year for you and your family.