The new year finds many folks making resolutions to lose weight and get in shape. Some of us may be in great physical shape but what we need is to go on a spending diet.

Did you know that a lot of the same tricks that can help you lose weight can also help you save more money and cut down on unnecessary spending?

Write It Down

One of the best ways to keep track of the calories you eat every day is to write down everything you eat. The same is true when you are trying to better understand your spending habits. Writing down everything you spend for several days, can help you pinpoint where you are blowing money. It can also help you identify what you are doing right as well. Spending like eating has a mysterious quality to it, and in many cases individuals never truly know how much they are spending until they can see it written down in front of them in black and white.

Make a Plan

If you do not have a set plan for what you will eat each day then you run a greater risk of just eating whatever you like in whatever amounts. This works the same with your money.

Money left to itself tends to disappear.

A well-established budget will designate a job for every dime. Some of that money may be for spending freely, but you must decide ahead of time what that amount will be. To simply pay your bills and then consider all of the rest of your income as “extra” is a recipe for disaster. Assign every dime in your budget and then stick to that religiously.

Accountability

Setting up a system of accountability for your eating and work out plan can increase your chances of success with your weight loss goals. The same holds true for financial goals.

Many people accomplish this by incorporating the help of an accountability partner. You can do this with your money goals as well. Choose a friend or relative who you can trust but whom you know will use tough love with you to make sure you stick to your money commitments. Designate certain check in times either weekly or semi-weekly to go over your spending journal and discuss the strengths and weaknesses during the past few days. It doesn’t need to take very long, just a few minutes should do. Knowing that you will have to sit down and discuss your choices will help you to think twice about unnecessary spending.

Get Professional Assistance

To achieve weight loss goals, many people will consult a dietitian or a personal trainer. When you are trying to shed some extra credit card debt, it may be wise to consult with a debt relief company. The Christian debt relief programs offered by FaithWorks Financial can help you set and achieve your financial goals.

Avoid Temptation

If you are truly committed to your diet, Dairy Queen should not be somewhere you hang out regularly. There are also certain places or people you should avoid when you are on a spending diet as well. If certain malls or stores are always a spending temptation to you, do not visit those places. If certain people influence you to spend more than you should, then either limit your time with them, or make sure you have no money with you when you spend time with them. This may not go over well at first with some friends or family members, especially if these people are taking advantage of you in some way, but stick to your commitments and soon they will learn what the new boundaries are.

Reward Yourself

When you reach a weight loss goal it is a good idea to reward yourself in order to encourage yourself to further success. When you have reached a money goal you should reward yourself as well. Your rewards should not necessarily be a spending reward, though. If you have successfully contributed to your savings account every week, perhaps you could reward yourself by using some of that savings to open a CD, money market account or some other low risk investment. The boost in confidence will further fuel your financial efforts.