5 Simple Ways to Budget Your Money During January
The beginning of January always feels like a downer, with all the festivities of Christmas over. The decorations are put away for another year, the family goes home, and payday seems a long way off. Planning for the year ahead seems to counteract this gloominess, with new challenges and goals to aspire to.
One thing’s for sure, we’re all conscious of the fact that money is in scarce supply after Christmas. If you are looking for ways to save some cash, then read these tips on 5 simple ways to budget during January.
1. Get online banking
One of the benefits of going online is being able to set up text messaging alerts. You can receive a weekly balance and alerts that let you know when you go below a specified limit. This is a very convenient way to keep an eye on things, especially for those always on the move (no more trips to the ATM to check your balance).
2. Eat Seasonal
Food that is in season costs less to produce and therefore is cheaper to buy. January has a plentiful range of fruit and vegetables in season, including the likes of: kale; cauliflower; leeks; brussels sprouts; parsnips; turnip; oranges; pears; grapefruit; and even lemons. For meat/fish you have: lamb; goose; pork; venison; chicken; oysters; mussels; and whiting.
3. January sales
If you want to catch some good quality bargains during the January sales, you need to be quick. Decent quality products will be snapped up pretty fast, leaving behind a lot of old rubbish that retailers struggle to get rid off. Don’t be tempted to buy products you don’t really need just because it’s half price, write a list of items you think you’ll need to help you get through January and stick to it. Don’t ignore thrift shops, as people may well have left unwanted Christmas gifts in there. Speaking of unwanted Christmas gifts….
4. Sell unwanted Christmas gifts
If you don’t want/need it, someone else might. Sell any unwanted Christmas gifts online and make yourself a few pounds in the process.
5. Keep warm and save on heating costs
I’m one of those types of people that is cold all the time, but I’ve managed to find ways to keep heat in my body without spending too much on heating. The first thing is to make sure you’re well wrapped up in warm clothing. So wear thick socks, layer up tops with jumpers and blanket scarves. Wear a wooly hat. Now you’ve got warm clothing – get moving! If you’re in the house then housework is a good way to get moving and keep warm. Drinking hot drinks and food is a no-brainer, but a trick I learnt from my mother is to leave the oven door open after cooking, the heat from it is just lovely!
6. Set yourself a Money Saving Challenge
Kick start the year right with a fun money saving challenge. I like the ever popular 52 week money challenge were each week you save the same number of the week; week 1 = £1; week 2 = £2; until you get all the way to week 52…and have £1378 for next January. If you’re into journalling like me, you can buy cute stickers to follow your progress here and here, both on Etsy.
How do you manage your money in January?