For many of us the stretch between the December and January payday can feel like a long time and it makes it harder to survive until payday. Not only do we have to be able to afford all the usual costs of living during in December and January but there are added costs too.
Throughout the holiday season, we end up spending more and more money. Christmas presents for the family, drinks at works Christmas dos and all the festive food and trimmings can leave us with very little to live on when January comes around.
If you are feeling the strain of living on a budget this January, it’s important to stay calm and remember that the next payday is coming. Here are our 5 financial tips to survive until the December to January payday.
1) Shop Smart
If you want to save money and cut down on unnecessary spending in the new year, then changing up the way you do your food shopping is a great way to start.
A lot of supermarkets do amazing deals and offers that could save you a lot of money when it comes to the weekly big shop. Stores like Tesco and Sainsburys have amazing points and rewards systems that can be great if you are trying to save money.
Other stores like Aldi and Lidl pride themselves on selling good quality, cheap alternatives to big-name brands so be sure to check out these other supermarkets and see what you can save.
2) Try Dry January
Dry January is a pledge people make to give up alcohol for a month. It not only has great health benefits but you can save a lot of money doing this as well.
You might not realise it, but you’d be surprised to see just how much of an average shopper’s money actually goes on a bottle of wine or spirit here and there. Soft drinks are often a lot cheaper than alcoholic drinks in venues and pubs as well, so by doing dry January you can save money on your nights out.
3) Cancel Any Unnecessary Subscriptions
A lot of money gets wasted or is lost when you sign up and subscribe to something and then forget all about it. Look over your last bank statement and see if there are any subscriptions that you aren’t using anymore or had completely forgotten about.
Sometimes you might sign up for a free subscription, only for the company to automatically charge you when the trial is over. Always be on the lookout for this happening and be cautious whenever a free subscription asks for your card details.
4) Avoid Unnecessary Shopping
January brings with it the January sales. Sometimes there can be great bargains found in these sales, but other times you might just end up buying stuff you don’t really need and you can’t really afford.
Don’t be drawn in and tempted by these amazing offers when in reality, it’s not a bargain. Ask if you need whatever it is and can you spare the money to buy it. If the answer is no to either of these things then you should leave it.
If you think you might be tempted, make sure to avoid the shops that you know are having sales and be careful not to get drawn in by the sale tabs on websites.
5) Talk To Your Work If You Are Struggling
If you are struggling to manage with finances, it can lead to bigger problems. Financial worries can lead to stress and feeling like you are unable to cope.
When this happens, it can lead to more serious issues with stress and anxiety so it’s important that you are able to keep on top of things.
Try talking to your work about how you are feeling. You might be able to get your next payday brought forward to help you survive until payday, however, this is not a habit you want to fall into as you might find the same thing is now happening every month.
Talk to your work if you are feeling stressed or overwhelmed and hopefully, they should be able to help you keep on top of your workload and keep the workplace stress from causing other, more serious issues.
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