Avoid Going Broke In January By Following These Money Saving Tips
- Olamide
- January 9, 2019
- Living
- Avoid Going Broke In January By Following These Money Saving Tips, January Money Saving Tips, January Money Saving Tips For Women, January Money Saving Tips Women, Tips On How To Save Money In January, Tips On How To Save Money In January |FabWoman
- 0 Comments
January is here and we know it’s like the longest month of the year after spending a lot to detty December. We’re just in the second week of January and we shouldn’t throw caution to the wind when spending since there are three weeks to go. After spending a lot of money in a bid to enjoy the holiday, you might have to take a new approach in saving some money during the month that seems to be the longest in the year.
ALSO READ: Need Ways To Spend Less? Try Out These Effective Money-Saving Tips On Breakfast
In case you’re wondering how to go about your finances this month, we’ve got good news for you. With a little creativity, you can cut costs significantly this month and get your finances back in track.
These money saving tips will help you all through January.
1. Start The Year With A Fresh Budget
Create a new budget but this time, streamline the budget to a certain amount. Ensure that this budget is as real as possible and include only things that are important. Exclude things you can do without for now. It’s also important you follow through with this budget.
2. Be Careful When It Comes To Promo Sales
Promo sales in January are quite tempting and will make you spend without noticing. Unless you’re buying grocery items or household products that have been discounted and that you actually need on a day-to-day basis, chances are that you’re being tricked into spending money you can barely spare on things you don’t need right now.
3. Avoid Buying On Credit
You might have been eyeing some outfits or shoes you want. Avoid buying them on credit, you don’t have to quench every thirst immediately. It’s tempting to purchase something and tell yourself that you’re going to pay it off in installments.
If you’re constantly buying on credit, you’ll struggle to get out of the debt cycle you’ve inadvertently created for yourself. This act will affect your income and savings for the rest of the year.
4. Cut Down On Your Outings
You don’t have to attend every parties or hangout or see every movie in January. If you have to go out, pick a place where you would be able to hang out for free with friends. You would save a lot by avoiding these outings.
5. Shop Carefully And Smartly
It’s all about economizing what you’re buying and the key here is clearly to think ahead. Buy in bulk and don’t go to the shop more than once a week without having a solid idea of what it is you need.
6. Save Money On Food Costs
You can cut down on your food cost by cooking all your meals. Avoid buying foods in restaurants, it would save you a huge amount of cash. Make your fruit juice at home, just make sure you spend less on food and you’re good!
