Like most people, you probably have this New Year's resolution to save more and spend less. It's a great goal that's not hard to achieve when you develop the right habits.

Most wealth gurus and financial experts say, the best time to start saving and investing is while you are still young. College is an ideal position to begin since most students don't have a family to support yet. It also brings them in a better position to repay their student loans.

Here are some practical saving tips reported in the Mirror:

Dig for discounts

For food items that won't easily spoil or other personal effects, buy in bulk to get discounts. Don't ignore coupons and voucher codes, nipping a few dollars here and there on grocery items or books can easily add up to a big savings.

Rebates and rewards

Shop in places that offer loyalty rewards such as rebates and cashbacks. It may take time to reap such benefits but it does save some money.

Off-season shopping

Take advantage of end of season sales when buying seasonal clothing and other items. Also, notice how much you splurged last Christmas for presents? Consider shopping for Christmas as early as October or even the whole year.

Plan your meals

Don't just eat anywhere, prepare your own food and pack lunch. First, you're sure it's fresh. Second, you'll save from half-eaten fancy sandwiches you leave in the cafe or the deli when you're running late.

CNBC also suggested these smart money habits:

Invest spare change

Yes, investing doesn't demand a fortune. There are now microinvesting apps like Acorns that allow you to invest 'spare change'.

Purge those pleasure purchases

Or at least limit them. Consider your $5 designer coffee, that costs $35 a week, $150 a month and $1,800 a year. Pretty hefty for your morning coffee, right?

Make it a goal

Self-made millionaire T. Harv Eker and author of the book Secrets of the Millionaire Mind say that the number one reason people don't get what they want is because they don't know what they want. So make it a point to define and write how much you want to save, spend and invest. Commit yourself to achieving it and make your plans around it. Just a simple note on goal-setting: make it realistic.