When it comes to making big decisions like buying a house, setting a retirement date, or even deciding to implement a savings plan, people often get overwhelmed by the decision making process.

A few simple New Year's spending resolutions recommended by Jeff Yeager can be a great way to take "baby steps" toward reaching your 2010 savings goal.

In addition to the following tips, homeowners age 62 and older can investigate the possibility of a reverse mortgage as a cash flow source. Reverse mortgages can be accessed as a lump sum or as a monthly payment or even as a line of credit which is available for future needs. Comparing quotes from lenders online can be a good way to gain information about the potential of this financial resource.

Savings Tips for 2010

• Review Insurance Policies: Save money by bundling policies with one company and comparing rates from different companies
• Use Your Gift Cards: Don't forget to use your cards before they lose value or expire
• Stop Drinking Bottled Water: You can save money as well as the environment by drinking tap water
• Cancel Gym Memberships: Walk, bicycle, or exercise at home to save money while keeping fit
• Kick Bad Habits: Smoking, drinking, and gambling cost money now and have the potential to cause future health or financial problems
• Cut the Grass: Not only can you save by cutting the grass yourself, but if you return more of your lawn to nature or to a no-maintenance ground cover you can save money on lawn products
• Cut Paper Use: Use fewer paper napkins and paper towels and disposable dishes to save money and the environment
• Meat-free Days: Choosing to avoid meat one or two days per week can be healthier and save money too
• Bright Idea: Switch to CFLs (compact-fluorescent light bulbs) to save on your utility bills
• Garbage Out, Garbage In: Force yourself to get rid of one item before you buy something new

By implementing one or several of these ideas you may be closer to reaching your savings goals.