STRETCHING YOUR JANUARY BUDGET

January blues are notorious - and no less because the first month’s paycheck has to stretch even further. After an expensive time around Christmas, and with many companies moving December’s payday to before the festivities begin, January’s paycheck often has to cover one or two weeks extra.

Having a few money-saving tips on how to stretch your January budget can make a huge difference in making your finances last.

#1 Hack your bills

Taking the time to look into your bills - such as electricity, gas, water, phone, or even the gym - can help you to save pennies and pounds each month that really add up. Do your research on current offers on the market, then call your provider to see if they can match it.

#2 Make it fun

Saving money can be stressful, so any opportunity to relieve the pressure can help you and your family to relax. Challenge yourself to ‘no spend days’, or get the whole family involved and see who can spend the least each week. This encourages the whole family to make more conscious spending decisions that make a big difference in the long run.

#3 Stick to your list

Before doing your food shopping, make a food plan for the week and then a shopping list just for those meals. Avoid being tempted by multi-buy offers or other sales tactics, and stay focused on only what you need. When planning your meals, try and select foods that don’t expire as quickly - choose more dried goods like pasta and rice, and stock your freezer with frozen veggies that can be quickly cooked at mealtimes.

#4 Leave the car at home

Opting to walk or cycle once or twice a week saves a huge amount in petrol that can have a big impact on your weekly and monthly expenses. If these options aren’t possible, take the tube or the bus to save money over using your car - or even look at lift-sharing websites if you work in an area that a lot of people commute to.

#5 Avoid lunchtime temptations

Making your own lunch rather than visiting the shops or a cafe every day is one of the biggest swaps you can do to spread your budget. Pack your favourite lunch as well as some snacks so hunger pangs won’t tempt you, and enjoy building good habits that your bank balance will love you for.