Christmas is the most wonderful time of the year, but our bank balances don’t always agree. So many of us overspend at Christmas, even if we began with the best intentions or starting with a budget and sticking to it. Sometimes, we just put too much pressure on ourselves and our finances are usually hurt the most.
So, with the New Year here, why not make it a New Year’s resolution, or a general life goal, to save as much money as you can and be a little bit more frugal and wiser with your spending. Unsure of where to start? Don’t worry – here you’ll find some helpful tips and straightforward advice. Good luck!
The little things
It’s not often that we treat ourselves to big, high end items. TVs, large white goods and even things like car payments are big things we build up to and rarely purchase as a flippant, off the cuff gesture. So, in order to save, try looking at the little things more. From things like luxury loo roll to ink cartridges – why pay a premium when you can get the same, if not better results from a different brand? You can pick up an hp 301xl black remanufactured high capacity ink cartridge for a considerably less price than an original cartridge but it does the same job. Cleaning products, even medicines available in your local supermarket – many have the same ingredients just different packaging.
Make it a challenge
We all want to save money, but more often than not we find something better to spend our money on. So, how about making it a challenge instead? Whether it’s having £500 saved by June, or even the 1p a day saving challenge, the beauty of challenging yourself means that you can start this at any point in the year and still reap the benefits.
Save for treats
Yes you want to save money, but you work hard so there’s always room to treat yourself too. The trick is not to splurge everything at once. If you book your break/holiday/festival several months in advance then you’re likely to get a cheaper deal then if you leave it to the last minute. You’ll also have the option of paying it off in small, monthly instalments so you can work it into your monthly budget a lot easier. Put a little more aside at the same time if you can and you’ll even have plenty of spending money to enjoy while you’re away.
Have a clear out
Old gifts you never opened or used, old tops, dresses, handbags, shoes and accessories, that old smart phone that’s just sat in the drawer upstairs, if you don’t wear it or use it then try and sell it and save the money. There are lots of apps that can help you sell in your local area as well as Facebook and other social media platforms, websites, eBay and even friends and family. Anything you can’t get rid of, give to charity.
Disclaimer: this is a collaborative post