As the festive period is gradually coming to an end, most people feel pressured that they spent more than they could afford over the festive period. Some have fallen into debt or further into debt as a result of overspending. After the festivities of Christmas and the New Year the month of January can feel rather dull.
This isn’t helped by the fact that, if you are paid early before Christmas and unfortunately, there are five or six weeks between the December and January payday, making January feel even longer than it already is. Most times, there are usually five Mondays in January, so it makes it a bit worse.
To help you last until pay day, we’ve got some top tips on how to save and stretch your money that bit further.
Another tip to survive January is to buy your food items in bulk. If you buy in bulk, you can store the excess food that you have in your freezer and use it later on in the month. You could also cook larger meals for yourself and freeze whatever food you have left over.
One important tip to learn is to stop spending unnecessarily. Similar to with buying lunch at work, most of us fritter away some money each month on things that we could cut back on. At times, when money is a little tight, these unnecessary luxuries should be the first expenses to go. If you normally visit a fast food joint every week, or enjoy a takeaway every weekend, you could make a conscious effort to cut back on these treats.
You could also cut back on any monthly subscriptions that you have, such as cable TV services like DSTV, GoTV, etc and pick them back up once the month is over and your bank account is looking a little healthier. It won’t hurt not to have those services for a month.
Also, try and sell items you’re not using anymore. If you have accumulated items that you no longer need or want, then selling them online could help you to earn some extra cash in January. You could even sell any unwanted Christmas presents that you have received. Thankfully, there are websites available like OLX, Jiji, etc where you can sell those items.
If you know you might struggle to survive financially in January, now is the time to act.
These simple things can get your finances back on track.