My Biggest 2010 New Year's Resolution: Saving Enough Money to Purchase a House

January just may be the most motivating month. Beginning January 1, people around the world find themselves making resolutions and having the intention of keeping them. Unfortunately, with today's busy world, resolutions sometimes fall by the wayside. In 2010, my #1 resolution (more like a promise to myself, really) is to purchase my first home. The only way this can happen is if I increase my savings for a down payment. Here are five ways I intend on making it happen.

1). Reduce Miscellaneous spending. While I wish I had the willpower to completely eliminate my spending money, it simply is not realistic. No matter how careful I am, things are going to come up. I can reduce the fund I allow monthly by fifty percent, cutting down on buying clothes and other miscellaneous items that are not necessities.

2). Reduce personal bills. I will reduce all of my utility bills as much as possible. I can live without all the movie channels on cable. I can cut down my plan with Verizon Wireless. I can avoid turning the heat on in my apartment until I absolutely have to. Also, I can reduce my car insurance plan, at least for a few months.

3). Invest in a seasonal or part time second job. The holidays are a great time to invest in a seasonal job because the hours will be plentiful. After the holidays, a more permanent job at even ten hours a week for say, $8 an hour, will result in approximately $200 extra a month after taxes.

4). Put every penny of tax refund toward savings. Instead of getting the new couch and new mattress, the entire tax refund could add up to a thousand dollars toward my savings.5). Asking for cash for birthday and Christmas. Though presents are never necessary, my parents will still want to give me something for my birthday and Christmas, no matter how much I reist. Rather than gifts, they can either give me money directly for my savings or purchase gift cards I can use that will save me money monthly, such as a gas card or gift card for groceries.