There are a kajillion and one tips out there to save a few dollars every month. We talk about them, other people talk about them, Oprah talks about them. In all likelihood, so do the guys who run things over at Buckingham Palace. Not the Queen, but the Queen’s people. They probably trim the fat here and there. It takes a lot of money to run a palace.

One of the commonest tips is cutting out your morning latte. $3.70 per latte times 5 days a week times four weeks is $74. If you and your spouse both stop drinking your lattes, you can get an extra $150 a month out of that cutback. And we just talked about how critical that $150 can actually be.

Wow. Awesome. I am totally going to stop drinking lattes right now. It’s not good for my heart anyway. I will be healthier and wealthier and wiser and I will also read that stack of books I’ve been meaning to get around to. Go team.

Except that’s usually not what happens. Sure, you give up your lattes. And at the end of the month, you expect there’ll be $150 waiting around for you in your bank account, to do with as you will. But there isn’t. Why isn’t there?

Often, when we know we’re saving money, we allow ourselves to spend it in other places. “Oh, I cut out lattes, so we can afford to go out to dinner this week.” “Oh, I cut out lattes, so I have a little extra cash. I think I’ll get a candy bar.” “Oh, I cut out lattes. Maybe I’ll get a mocha instead.” You get the idea. That money never makes it to the end of the month.

Which is why you have to spend it at the very beginning. All in one go. Before you decide that you need it.

Think about it. When you were buying your lattes, you got by fine without that money. Possibly this was because you were caffeinated to high heaven, but more probably it’s because your budget does actually sustain you and your lattes.

That’s good. What we’re trying to do now is find extra money to get out of debt. So here’s what you’re going to do with your latte money, in advance of spending it: you’re going to pay bills.

Take that $150 out of your account and pay off a credit card. Don’t give yourself the option to spend it in five dollar increments throughout the month. The money’s gone. It’s no longer in your bank account. It’s going toward repairing your credit.

The other great part about this strategy is that it doesn’t allow you to backtrack on your resolutions. With the old method, you could still buy a latte if you really, really NEEDED one. If the craving for caramel and whipped foam was just too much for you, you could still get your fix.

Now you can’t. There is no latte money. There is only less debt, and a less-jittery heart and nervous system. You’re stuck with your resolution.

Sucker.

Do this for every budget cut you decide to make. Going to axe the cable bill? Great. Put that $30 a month toward debt and spend a little more time playing outside with your kids. Cutting junk food out of your grocery bill? Put that $25 aside too. Stack it all up and you’ll have carried out your New Year’s resolutions. Including that debt one.

FYI. If you're thinking about becoming a client of MyCreditGroup, when we get to the part when we help you restructure your budget – you know Starbucks is is Gone