Top tips on how to survive until January payday


Money Saving Tips

After the festivities of Christmas and the New Year, the month of January can feel rather dull. This isn’t helped by the fact that if you get paid early before Christmas, there are five or six weeks between the December and January payday, making January feel even longer than it already is. To help you last until payday, we’ve got some top tips on how to stretch your money that bit further.

1. Hold back on the spending

After splurging on Christmas presents, it’s worth shaking yourself out of the habit of spending. Once you’ve started buying gifts, it can be hard to stop if you’re not careful, especially as the January sales begin. So remind yourself that if you didn’t buy it in the Black Friday sales or ask for it for Christmas, it probably isn’t worth buying right away.

2. Cut back on food shops and cook smarter

A great way to save money in January is to look at how much you’re spending on food. By the time the new year rolls around, you’ll most likely have used up all your leftovers from Christmas Day, but that doesn’t mean that you can’t save by picking up more festive food. Supermarkets will often carry a lot of Christmas goods even after the holiday has come and gone, and you can usually get it at a discounted rate. Turkeys are one to look out for in particular, and if you have the room, it could be a great idea to stick one in the freezer.

If you’ve had your fill of Christmas fare, you can always save in other ways, such as, cooking in bulk and freezing your meals. Making larger batches almost always works out cheaper than making different meals each night. If you haven’t already, you can also try switching from branded products to a supermarket’s own brand - in a lot of cases, there isn’t much difference in taste but there is a big price difference!

Check out our guide for more advice on how to save money on your food shop.

3. Sell unwanted items

If you have accumulated items that you no longer need or want, then selling them online could help you to earn some extra cash in January. You could even sell any unwanted Christmas presents that you have received. It could also be a good idea to consider selling stuff that will now be replaced by new gifts you’ve received for Christmas.

4. Cut back on unnecessary expenses

As with buying lunch at work, most of us fritter away some money each month on things that we could cut back on. At times, when money is a little tight, these unnecessary luxuries should be the first expenses to go.

If you normally visit a coffee shop every week or enjoy a takeaway every weekend, you could make a conscious effort to cut back on these treats. You could also cut back on any monthly subscriptions that you have, such as television streaming services and pick them back up once the month is over and your bank account is looking a little healthier.

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