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01/05/2010 11:57 AM

Changed Habits Can Save Thousands Of Dollars In 2010

By: Tara Lynn Wagner

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Those who resolved to be more responsible with money this year can change their everyday habits and then save thousands of dollars a year. NY1's Money Matters reporter Tara Lynn Wagner.

The start of a new year finds many people resolving to take a fresh new approach to their finances, and to spend less and save more. Ellen Breslau, the executive editor of Woman's Day Magazine, says these goals are relatively easier to reach.

"All you need to do is look at what your daily habits are and be willing to make a few small changes. So easy," she says.

The January issue of Woman's Day offers advice on how to save $2,010 dollars in 2010. Breslau advises to begin by taking stock of paper stock. Employing a strategic approach to printing can stretch dollars and home office supplies a lot further.

"You can print less. You can print in black and white instead of color. You can use less paper, maybe doing printing on both sides of the paper," says Breslau. "You can save $120 a year just by really watching your printer and paper use."

Changed Habits Can Save Thousands Of Dollars In 2010
Another place Breslau says people waste paper and money is the kitchen. Paper towels may be convenient but they are not friendly to the environment or budgets.

"Go for microfiber clothes. That can save you $50 a year, just by cutting back on a roll of paper towels a week," says Breslau. "There are so many areas where we are a little wasteful, and if you trim a little bit you can really add up savings."

In addition to resolving to save money, many people also vow to lose weight in the new year and join a gym. However, experts warn that often the only thing that ends up lighter is one's wallet.

"You're paying an initiation fee, you're probably paying a few hundred dollars a month for your membership. You're never going to go. Few people go. Don't do it," says Breslau. "Instead, save the money. That alone can save you $1,200 a year or more."

Another big way to save is to hang up on the phone company. Going cellular will eliminate the land line and the monthly bill that goes with it.

Changed Habits Can Save Thousands Of Dollars In 2010
"You don't really need it if you've got a cell phone. And you know, you can save a few hundred dollars a year, more, almost a thousand dollars," says Breslau.

Finally, the easiest way to save is to simply take a closer look at daily expenses. Saving cash by packing a lunch or cutting back on coffee is hardly new advice, but Breslau says it's a tip worth repeating.

"Guess what? You've heard it because it works," says Breslau. "If you cut back one cup of coffee a day, that's $3. You know how much that saves you a year? Over $700."

A nice amount to put in your rainy day fund or help fund a sunny vacation.