According to, dieting was the No. 1 new year’s resolution going into 2019. Believe it or not, after dieting and eating healthier, saving money came in at No. 4 on the list. Here are a few tips to start off the new decade, so you can save more money in 2020. 

Increase your savings by 1 percent: It’s important to increase your overall savings by a few percentage points every year, so you don’t fall victim to lifestyle inflation. Pay yourself first, and even if you can’t afford to increase your savings by a large amount, still try to increase your savings by 1 percent. This works best by setting up an automatic savings plan from your checking account, so you don’t see the money at all.

Shop your bills: January is the perfect time to shop your bills. Take a look at your cable bill, phone bill or any other bills you have in your house. Has the amount increased since the last time you looked at it? Shop the services with other companies, or call the customer retention line to try to lower your bills overall. 

Cleanse your credit card: This is one of the easier items on this list. Take some time to review your credit card statements, and cancel one recurring charge for any services you didn’t use in 2019.   

Decrease food and entertainment expenses: This is a big expense for many households in the Atlanta area. Try going to the grocery store once a week, instead of multiple times a week. This is a very easy way to lower your grocery store spending, so you aren’t buying snacks you don’t need. Because let’s be honest, snacks at the store look great — even if you aren’t hungry!

Pay off one debt: Make it a goal this year to pay off one of your debts. If you have a debt with high interest rate, look into a zero interest credit card balance transfer. There are credit cards that will offer you a no-interest rate period, but remember, you must pay off the entire card balance before the promotional period ends. Otherwise, you will be charged interest on the entire amount that you put on the card when you made the balance transfer.  

As always, at oXYGen Financial, we help you breathe easier about life and cleanse your budget for the new year.

Allison Baines, Wealth plan design specialist at oXYGen Financial. Co-host of “They Don’t Teach You This” podcast. Connect with her at

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