Radical New Year’s resolutions

The personal finance site MainStreet.com has a story with 14 radical New Year’s resolutions, about everything from never paying for media or coffee, to saying goodbye to ATMs. Don’t think I could do either of those, could you? Here are a few tips to make these radical resolutions work for you.

Ways to make these three radical resolutions work for you.

Never Paying for Media – MainStreet.com suggests refraining from paying for ANY type of media. That includes television, newspapers, and even books. I find the main problem with this resolution is that it is too broad. I know that I could never give up buying books for a whole year. If the new Game of Thrones book came out tomorrow, I don’t think I’d even be able to wait for the cheaper paperback copy to come out before buying it! Instead of cutting out all media entirely, a better (easier) resolution would be cutting out your least used media types. If you only watch certain TV shows, then try replacing  your cable bill with a Netflix or Hulu subscription. If you know you only read the paper online, don’t feel guilty for ending your newspaper subscription. If there’s a service you’re paying for and not using, the New Year is a great time to do away with it!

Saying Goodbye to ATMS – Who hasn’t run out of cash while out of town or off to an event? For me, it’d be hard to take away the convenience of ATMS. Sometimes, especially weeks where I work late, the bank’s hours are too limited for this to be a viable plan. I do try to only use my bank’s ATMS (to cut out extra fees) and limit this to about twice a month. Limiting your ATM use is a simple way to make this radical resolution more reachable.

Don’t Pay for Coffee – The price of coffee can add up, but my friends and I love to meet at our local coffee shop to catch up. Recently, we found out that it is much cheaper to make coffee at home, especially if you have a daily coffee habit. Instead of NEVER paying for coffee, try only buying coffee on weekends. This will help you save money, but won’t leave you missing your favorite Starbucks fix.

One radical resolution we agree with as is, is the idea of tracking your spending. (Turn to the third page of the story and you’ll see a familiar name quoted, hint hint). While it may seem too time consuming to write down EVERYTHING you’re purchasing, this can help pinpoint where you need to limit your spending most. The iPhone app Small Spend is a simple, user-friendly tool that will make tracking your spending easy. It allows you to make a list of purchases and sort your purchases into specific categories.

If you’re looking for a list of less radical financial resolutions, take a peek at our top 5 financial resolutions. From paying off debt, to saving for retirement, you’re sure to find a resolution that’s worthwhile and manageable.

What is your New Year’s financial resolution?