For most of us, January is a time of year that we most feel the financial pinch – payday can often seem far away and with the expense of Christmas not far behind us it can be tough. However, that just means it is the perfect time to start on your journey of being better with money, so here are some tips on how to be money savvy this January.
Get Your Expenses Organised
If you do want to be more money savvy then knowing what expenses you have is a great idea. Not only should you look to set up a monthly budget, but thinking ahead about what big expenses you might have is wise too. For example, although it might seem ages away could you imagine what a difference you would feel if you had saved £5 a week for a whole year towards Christmas. By knowing when big expenses like kids birthdays are coming up, you can be savvier with saving towards these.
Work Out a Saving Method That Works For You
Saving money might sound easy, but it isn’t always if you don’t have lots of spare money at the end of the month. Work out a way of saving that works for you, many online banking apps allow you to round up transactions and/or put money in a savings pot that can be locked away. Work out how you find saving money the easiest and then go from there.
Shop Savvy
Being a savvy shopper is a must – have a look at your expenses and work out where you might be able to make some cutbacks and save some money. Even if you don’t to give up anything using things like cashback websites and searching online for vouchers when you shop can make a big difference to how much you spend, and the money you save can go straight into your savings account.
Be Accountable
If you are making a conscious effort to be better with money then make sure you are accountable – keep a spreadsheet of what you are spending, what you have saved and what you have spent that you could have skipped – that way you’ll have a clear idea of your finances and how your new more money savvy ways are helping.
If you have any tips on how to be money savvy feel free to share them below.
About Debz Louise
Debz Louise is a UK-based lifestyle expert and the founder of several lifestyle blogs, including Wannabe Princess and Under 5s. Specializing in everything from interior design and home renovation to body-positive fashion and early years development,