8 Tips For Surviving The Longest Month In Year, Also Called January
January is a pretty depressive month for most people. It has been called the month of ‘money hangover’ and legitimately so.
Coming after all the festivities of December, January seems pretty uneventful with a slow social calendar. To add on to that, most people find themselves in a financial crunch as December wipes out most if not all their savings.
In countries worldwide, it is reported that the rate of debt taking spikes up in January as people seek loans to survive January. This is not a smart way to live o allocate your money.
While it may have seemed inevitable to struggle in January in the past, there are proven ways to keep you afloat in the long month. Read on how to survive January below:
Sell Unwanted Items
Sell, sell and sell! Trust me, you won’t wear that dress you have been saving up for over five years waiting to lose weight. And it might be time to get rid of that extra bed in the guest room once and for all.
If there is eve a time to get rid of unwanted things in your house and closet, the time is definitely in January.
You don’t have to wait for summer and the boot-sales in summer.
There are online platforms like eBay where anyone can sell anything from the comfort of your home. Many people are doing it.
December has this effect on people where they forget what homecooked meals feel like as they often order out and go for fancy dinners. If there is a time o forget this rotten culture its definitely in January.
While fine dining is exquisite and exciting, it also does not come cheap and leaves a dent in your pockets. In January, you are advised to buy groceries at your local farmer’s market and remind yourself ow to prepare your meals.
Instead of throwing out leftovers, always eat them as breakfast or lunch the next day. With a refrigerator in the house, this is easy.
There are also numerous tutorials online on how to make leftovers feel like a new meal the next day so that it doesn’t bore you tastebuds.
When going for January shopping, make bargain hunting a priority.
Don’t just buy anything, instead, be on the lookout for the foodstuffs on promotion.
Make use of the vouchers you have accumulated all year and the points you have won on your card. Jump on the ‘buy one get one’ deals like a gazelle running from a lion.
Remember, in January, the saying every penny counts takes on a whole new meaning.
Proper planning makes the dream work. Start planning as early as December on how to spend your money and you won’t be caught unaware.
Planning helps to avoid taking those unnecessary loans to make ends meet.
Try and live within or below your means. That way, you can save some cash for a rainy day.
Pay off any loans beforehand as well so that in case you desperately need a loan in January, you will have access to one.
Transport takes up a huge chunk of your cash.
Fueling your car is more of a luxury in January than it is a necessity. That being said, get in the habit of carpooling.
It’s cheaper and you are saved from having to navigate through traffic snarl-ups yourself.
Keep Track On Spending
Keep track of where your money usually goes, this way you can budget properly and realistically with an informed mind.
Cut Back On Subscriptions
In January, if you are trying to cut costs, the first thing that should go is the unnecessary TV subscriptions. You can live without them especially because cash is tight.
Also, gym memberships go up in January because new year resolutions haunt many people.
Avoid falling for this trap as that means more money emptying from your pockets.
Chances are you won’t see it through if it is only motivated by an existential crisis. Save your coins instead.
Important Payments Made First
January is a very slippery slope financially and people have ended up debt-ridden or homeless because of not budgeting well.
Before anything, when the salary is deposited in your bank account, you should prioritize the important payments first.
These include rent as you don’t want to end up on the streets.
Only after the essentials are catered for can you think of other things.