With the excitement of Christmas and New Year almost a distant memory, January is the perfect month to refocus your finances! The start of the New Year can be tough, with many of us having to wait another three weeks for our next payday. To help you reach the finish line and beat the January blues, read our six tips to save on shopping and ease into 2017 stress-free.
1) Take stock of Christmas
Before you go out and replenish your store cupboard and toiletries supplies, save on shopping by taking stock of what you already have. Note what you’ve been given over the holidays and use up what you can before you buy more. Smellies especially are a popular go-to gift. If you’ve been on the receiving end, you could have supplies that last you months! If you have a stack of gifts that you just didn’t love, don’t let them gather dust. Re-gift them for a January or February birthday and help them find a new home where they’ll be appreciated. Or host a gift exchange with your friends? Our “What to do with the Christmas presents you aren’t in love with this year” blog post has plenty more ideas! Alternatively, use eBay to find someone else to love your unwanted present. This is particularly great for those who do not have a store receipt.
2) Check the latest model releases to grab a bargain
The January sales don’t guarantee you’ll get bargains across the board. Brands that release new models of their products on a regular basis will routinely slash the prices of their older models. The New Year doesn’t always mean brand new shiny things straight away! If you have an item that is on your wish-list, do a little research into when the latest edition is out – for example you might want to hold out a couple of months to save on shopping by getting a cheaper mobile phone deal.
3) Don’t be tempted by the yellow-sticker discounts
Discounted clothes and food can be a great way to grab a bargain and save on shopping. But it can also come with the hazard that is impulse buying. Be regimented with your purchases and think carefully before you splash out on a “good” deal. The last thing you want is to get home with bags full of stuff you realise too late that you don’t really want, let alone need! Our top tips are to make lists and stick to them – especially in the supermarket, and to develop tunnel vision when you’re out and about, keeping your eyes away from the attractive window displays that could lure you in!
4) Save on shopping by becoming a coupon master
‘Extreme Couponing’ has become a sport for many, and there’s no denying the sense of accomplishment you get when you see how much you’ve saved. Some people managed to coupon their way to £800 of savings on their Christmas shop last year! Before you purchase any item online or in-store, check Wowcher or VoucherCodes for deals. Even if you can’t find one, there may be one with a competitor supplier.
5) Change brand for the month
Comparing products is essential to save money, as household brands are not always the cheapest. Why not take the own brand challenge as a way to cut costs this month? Own brand versions of cupboard essentials are often much cheaper and don’t fluctuate in price so much, enabling you better plan your shopping spend. It’s also worth trailing stores like Aldi and TK Maxx to pick up good quality items at a low price! Who knows, you might make some changes that stick!
6) Pick up a money-saving hobby
The New Year is the perfect time to start a new hobby or create new habits, and if you choose wisely, your new hobbies could be a fantastic way to save on your spending! If you’re a keen cook or green thumb, turn your hands to gardening by creating your own mini herb patch. You don’t even need any outside space – a sunny window-sill is a great place for a plant pot full of parsley, basil and coriander that taste way better than dried herbs, and will save you money, since you won’t need to restock unless you manage to kill them off! If fashion and crafts are more your thing, cross-stich, knitting, and making your own clothes are now firmly in vogue again, and not as expensive as you might think! There are great guides online and on YouTube that are cheap and accessible for any novice. Why not challenge yourself to make a few simple items, or knit your next winter wardrobe?
