How To Save The Most Money In The New Year

Jan 02, 2024 Holidays

You’ve been meaning to save more money and what better time to start than the New Year! Here are a few tips to help you meet your 2024 savings goal.

A man helping a young girl to play guitar.

If one of your new year’s resolutions is to save more money, you’re not alone. According to Fidelity’s 2024 Financial Resolutions survey it’s one of the top three resolutions, which is understandable since 69% of adult Americans have less than $1,000 in a savings account.

Saving money shouldn’t be complicated; use our resource to help get you on track and meet your savings goal!

Ways To Save 

Create A Budget  

Plan for how you’re going to save and spend your money – in other words create a budget. It’ll allow you to take control of your finances and allocate your income where it needs to go. Not quite sure where to start? Try using the 50/30/20 budgeting method.

Also, aim to build your budget in such a way that you’ll not only reach your short-term savings goal but any long-term ones as well – like buying a home or even retirement.

Bonus tip: Make staying on track easy by monitoring your progress with Financial Tools.

Female sits on floor on laptop with notebooks open next to her
Life Guidance for:


Ready to take control of your finances? See what steps to follow to develop a spending and saving plan and follow through on it.

Pay Yourself First

Once you’ve determined your savings goal, it’s time to spring into action. When you receive income, first thing you should do is pay yourself. This means putting money in savings before doing anything else to ensure you save what you need and not just what’s left over. This will keep you accountable to your savings goals and help you build your budget using only your remaining income.

Want to make it easy? Automate your savings by setting up transfers that align with your pay cycle or have a portion of your direct deposit go to a separate savings account.

Bonus tip: Personalize your saving – establish separate accounts for each goal and name them. This will give added meaning to your accounts, making it harder to withdraw for unnecessary expenditures.

Earn More From Your Savings

As they say, “work smarter, not harder”. Maximize your savings by choosing to deposit funds in a high-yield savings account or certificate that pays more than a traditional savings account. With higher dividend rates you’re sure to see your money grow faster. Be sure to review your options to determine what works best for your finances.

A family blowing bubbles. They are laughing and appear to be at a park. There is a man, a woman and two little girls.

Save to Win® Certificate

Save money with a chance to win cash prizes! Open a Save to Win Certificate and earn entries for monthly and quarterly cash prizes drawings.

Re-Evaluate Your Bills

Saving can be even easier when you begin to cut costs elsewhere. Start by reviewing policies, memberships, and subscriptions – you may be able to find discounts or decide to eliminate services you no longer use. Remember, reducing expenses by just $50 a month is equivalent to saving $600 a year.

Additional tips:

Boost Your Income

There’s only so much you can do to reduce expenses. If the amount you’re able to save isn’t enough, get back to the drawing board and consider different ways to bring in additional income.


Spend Less

A few adjustments in your spending habits could make all the difference – like swapping eating out for a home cooked meal, or shopping at consignment and thrift stores as opposed to the mall.

Bonus tip: Take advantage of coupons, compare prices, and find out which stores will price match.

Schedule Financial Check-Ins

Consistently reevaluating your finances on a regular basis is a must. You’ll be able to see if you’re making progress toward your goal and decide if any adjustments need to be made. Not to mention life can change unexpectedly, which may cause you to alter your spending and saving strategy.


Saving money doesn’t have to be a stressful task. Make a plan that fits your needs and lifestyle and stick to it. If the original plan seems too difficult to maintain, reevaluate and adjust as needed. There’s no one plan that fits all needs, but by following the tips above you’ll have a personalized one that helps you reach your goals.

Providers and products are mentioned for educational purposes only. This in no way constitutes an endorsement or approval by A+FCU. Refer to the external organization’s site for the most up-to-date information as their products and terms are subject to change.

A man walking through a field.
Reach Your Goals


Take advantage of free financial education from our partner, BALANCE. From confidential coaching to videos and articles, get the resources you need to help with your fiscal matters.

Related Articles

Banking on each other.
Building stronger communities.®