You'll know it's that time of year again when the Christmas tree is taken down, the fairy lights are put away in the loft, and the kids start going back to school. The festivities comes to an end. No matter how different your most recent celebrations were, it can still be tough to adjust. And even if your gatherings were small, the cost may still have been large. The third Monday of January is often known as ‘Blue Monday’, said to be the most depressing day of the year. To help you get through January and put yourself in a better financial position for the rest of the year, we've compiled some helpful advice.
1. Set your financial goals
It's crucial to identify your goals and create a plan for the coming year before you start thinking about your finances. We all know that the time after Christmas and the New Year can be strange, but during these times it might seem even stranger. It's cold and dark now that Christmas has passed, and you'd much rather watch TV than deal with your finances. However, by easing into it, you can ensure that you're in the right frame of mind for the upcoming year. It's also a good way to start reviving your financial situation. You might begin feeling better if you take action, such as paying down debt or making a spending plan to put your finances back on track.
2. Shop more wisely
Making more informed purchasing decisions can help you stay within your spending limit and work toward your financial objectives. It doesn't have to be a depressing month. The January sales are among January's best features. And you don't even need to leave your house to enjoy them. By being a savvy shopper, you could shop on a cheaper budget. The January deals tend to span from retail and food to even holidays so you can look for a deal that works best for you. By organising your finances from the beginning, you'll be able to determine how much money you might have available to spend on shopping, allowing you to stick to your plan.
3. Have a clear out
It's a good idea to get rid of old items that you don't need in the new year. Perhaps you currently have a cupboard overflowing with clothes, some of which you haven't worn in over a year, or a drawer full of socks. Decluttering your home is a useful way to get your house in order if you feel like you have too much and nowhere to put it, which can make you feel more blue in January. You could sell your used and unwanted items online to make money, or you could donate the items to a good cause. You might have a clean, organised home as well as a small boost for the month that will help you move closer to your financial objectives.
4. Take care of your wellbeing
The beginning of a new year frequently inspires people to make resolutions to improve their health. With campaigns like Veganuary and Dry January, it's a good idea to seize the advantages of leading a healthier lifestyle. By taking on one of these challenges, you might not only improve your health but also save money, giving you more time to concentrate on the important things you have planned for the upcoming year. A less expensive way to keep yourself busy is to stay active. You can decompress by engaging in a low-cost activity like walking, running, or riding a bike. A healthy body (and bank balance) can be key to a healthy mind.
