It is the beginning of a new year and time to think about saving money for the upcoming year.

What can we do to save a few dollars?

This year I evaluated my investment portfolio and closed a slow performer.  I took the money from that account and added it to a fund which over the years had performed quite nicely.  I should have done this years ago.  Not sure how income taxes and long term capital gain will work out this year.

Anyway, when the two accounts were combined I was pushed into a super saver account which allows me greater earning potential.

Scattered Change

With the coronavirus, so many people are no longer working or have had their hours cut–myself included.

This has forced people to think of earning in other ways.

It might help to think of goods and services you are currently using and expand on that.

Last year, I’ve also talked with a certified financial planner about my goals for the future and for retirement.  This is the first time I have done this.

The certified financial planner basically takes in all your financial information to give you a status report.  He will then evaluate your financial standing and offer some suggestions.  He will also go over social security payments.

We talked to him to see how our financial wants match up with our financial needs.  He uses a computer program to evaluate how inflation will affect savings and retirement accounts in the years ahead.

Change on Table

There are also the small ways to save money on the food budget.

I always used brown bananas to make banana bread so I don’t toss out overly ripe bananas.

Growing up I remember my mother always having four jars of super sized peanut butter in the pantry to ward off bad times if they came.

Assorted Coins

With coronavirus, I’m using my credit card and not using cash any more.  I’ve had the same $20 in my wallet since last March.

I’m finding myself just ordering things on line because I’m bored not necessarily things I really need.

Everyone needs a little “retail therapy” but just be careful on this point and not over do your spending.

We need to keep going forward in to the new year, keep our expenses low and keep our fingers crossed for better days ahead.

If you have any money saving tips you would like to share with Farmhouse Magic Blog, please leave us a comment below.  Thanks.