TAKE STOCK AND CONSOLIDATE
A credit card can help you spread the cost of Christmas, but it’s no fun when a bill comes your way early in a New Year. The interest alone can soon add up – so it’s worth seeing if you can apply for a 0% interest balance transfer card as it could save you money on your monthly repayments. And start putting aside cash for next Christmas now!
CHANGE YOUR HABITS
We’re all creatures of habit, but I doubt you realise how much of a financial drain some habits can be. Drinking or smoking are just a couple of examples. I was shocked when I learnt that a pack of 20 cigarettes now costs more than £10! And I shudder to think how much a cocktail in a fancy bar costs these days.
While quitting outright is the best goal, many find that a gradual transition is more sustainable for both their habits and their wallet. You might consider switching to e-cigarettes or trying smokeless daily nicotine pouches as a more affordable bridge toward quitting completely. The same goes for alcoholic drinks.
FOOD FOR THOUGHT
Do you spend a lot on food and drink? There’s SO much you can do to make some big savings. Instead of stocking up on ready meals, batch cook with fresh ingredients and pop the leftovers in the freezer. Swap big brands for own brands and keep an eye out for discounted food that you can pop in the freezer. Sign up for loyalty schemes that reward you with money-off vouchers. And if you’re dining out, drink tap water!
SHOP AROUND
It can be really easy to take a look at your gas or electric bill and think, “That’s just how much it is”. But what you might not realise is that you can often cut your spending by switching providers. I believe it’s well worth shopping around for a better deal on gas, electricity, mobile phone, insurances and much more!
SELL, SELL, SELL
Are your cupboards packed full to the brim with stuff you don’t really need anymore? Could you do with some extra space at home? I bet you can find a new home for all that clutter by listing it for sale on auction websites or local selling pages on Facebook. You’ll be surprised by what other people will pay you good money for…
I hope these New Year budget hacks come in useful. Making just a few small choices can have a big impact. And then it’s a question of what you do with all that money you save. What are your plans? Let me know in the comments below.
This article is a sponsored collaboration. The pink links in the content indicate a sponsored link or information source. The blog post reflects my own experience and the sponsor hasn’t had any control over my content 🙂
