New Year budget hacks – 5 simple ways to cut costs & save money in 2019

It’s not too late to make a New Year’s Resolution, especially when it comes to personal finances. If your bank balance is still bruised from the festive season or if you just want to make some positive changes to your budget, here are five helpful tips I think can help you save money in 2019…

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 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. If you smoke why not think about switching to e-cigarettes or even quitting completely to boost your finances in the long run? 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 any more? 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.



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Cassie is a freelance writer with a Masters degree in lifestyle promotion studies. She loves to 'get the look for less' so regularly shares thrifty fashion posts, DIY interior design ideas and low-cost recipes on her blog.

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