Five money resolutions you should make this year

Never mind losing weight or giving up the booze - these are the resolutions that you really need to stick to!

So we are into 2013. How are your New Year's resolutions going? Have you managed to stay off the booze? Made it to the gym? Kept the cigarettes at bay?

There is one thing that deserves a resolution that you’ll actually stick to, however – your money.

Following on from last year’s blogpost about the resolutions you shouldn’t make, we have five top tips to keep you on track in the year ahead.

Budget, budget, budget!

It’s a misconception that only people who have debt need to budget. Even if you’re flush it still pays to have an idea where your money is going every month.

Budgeting is a great thing to teach your children too. The sooner they understand the value of money management, the better.

If you have debt problems, our online advice tool Debt Remedy will structure your budget and look at realistic payment options for your debts. If you’re not in the red, Lovemoney has a fantastic MoneyTrack tool you can use.

Shop around

Make this the year where you always shop around for the best deal. The supermarkets are constantly trying to outdo one another in the bargain stakes and you can find out who’s offering the best value prices instantly at MySupermarket.

Start a Christmas savers account

The horror of a wallet-bashing Christmas still fresh in your memory? It can strike a fatal blow on your money, one made worse by a lack of preparation. Saving a little each month will soften the blow.

Many people can feel that saving for Christmas isn’t practical, but putting a small amount away each month will make a difference, even if it just means an extra round at the Christmas party!

Buy a little, save a lot

Picking up one or two little gifts or stocking fillers every month can also mean less stress for you next Christmas.

This rule also rings true for birthdays. If you see something that’s not too expensive but ideal for an approaching birthday, get it!

You gotta switch

It seems that our utility bills are always on the rise and it’s prudent to make sure that you’re getting the best deal.

A lot of people shy away from utility switching, out of fear that it’ll be endless hassle for very little saving. With our utility switcher, or Lovemoney's energy switching service, you can find out in minutes if you can get your electric and gas cheaper elsewhere.

What’s more, there’ll be no interruption in service when you switch – everything is taken care of behind the scenes.

More on debt:

Healthy food and a healthy bank balance: you can have both

The dangers of multiple payday loans

Overdrafts: the debt problem you didn't realise you had

New laws mean credit card debt can affect your mortgage

Budgeting was easier when we were paid weekly

Why a 0% credit card could mean 100% trouble

Losing your job isn’t the only cause of middle age debt