Christmas may be long gone, but the bills keep flooding in and prices continue to rise. It might be time to put yourself on a financial detox and tighten that belt.
Some financial experts advise instigating a ‘no spend’ month, resolving only to spend cash on essential bills and food. This may sound like an extreme strategy, but incorporating at least some of these principles into your financial life could help stop those debts from mounting up.
Here are some top tips on how to curb your spending (all links are at the bottom of the page).
Make it a dry one
Dry January is often touted as way to improve your health while saving the pounds, so it’s worth extending it to other months.
“You’d be surprised how much money you save in a few weeks when you aren’t spending it on alcohol,” says John Stirzaker, consumer expert at Net Voucher Codes.
Matilda Littler, at Millennial Saver, says it isn’t just the alcohol price that you save when you go dry for a month, but also the cost of socialising in general.