News Beat
Five tips on how to survive a January and make it through
As we enter 2026, many households are looking for practical ways to make their money go further and help relieve the financial strain of the festive period.
Often people tighten their belts throughout January to avoid going into debt after overspending on Christmas.
These tips can help put the reins on spending and avoid unnecessary expenditures in the post-December months.
1.Start budgeting to make your money last
Take control of your household spending and see where your money is going.
The government-backed service MoneyHelper says it’s best to be consistent when working out your budget.
Consider whether you’re including your partner, family members or just doing your own individual budget.
MoneyHelper’s free budget planner tool adds up all your income and outgoings, and then shows you what’s left over. It breaks down where you’re spending your money, giving you an idea of where you might be able to make savings and cut costs.
2.Save small and regularly
While it’s a good idea to set up your emergency fund as soon as possible, it’s best to keep to what you can afford and try to save regularly.
MoneyHelper says saving smaller, regular amounts is often more effective than saving larger amounts now and again.
This is because you get into the savings habit, and you’re not overcommitting too much money. It also lets you budget your spending from week to week or month to month more effectively.
A good rule of thumb to give yourself a solid financial cushion is to have three to six months’ essential outgoings available in an instant access savings account.
3.Sell, sell, sell
While you’re in the process of saving through budgeting and saving little and often, you could also raise some extra cash by selling your unwanted goods.
Job and recruitment agency Reed say online auctions and markets such as eBay are the easiest way to get shot of items that are just getting in the way, but there are plenty of others out there for anyone looking to have a proper clear-out.
4.Review your outgoings
January is traditionally a quiet month, with a lot less on the social calendar than December.
It’s a good time to review your finances and consider whether you’d be better off switching banks or even your energy provider.
It’s also worth contemplating what you spend each month on monthly bills and subscriptions, such as for a TV service.
MoneySavingExpert’s Martin Lewis says regularly checking your bills can save you hundreds on broadband, mobiles, food and more by working through your finances one-by-one to ensure you’ve the best deal on everything.
5. Try a ‘no spend’ day
Setting aside at least one ‘no-spend’ day each week is a simple way to rein in impulse purchases and free up cash to save, says Which? Magazine.
Start by dividing your available spending money by seven at the beginning of the week to establish a set budget for each day.
Then, intentionally plan for at least one no-spend day where you commit to spending nothing at all.
Budgeting apps such as Emma and Snoop can help you track your spending and see how these small changes add up over time.
