How to be money savvy this January

Hello you gorgeous folks 🙂

Despite January being my birthday month (hello to all you other New Years Day babies!), I always find that January is the most awkward month of them all. It’s the month that falls after the best time of the year (Christmas/New Year), where everyone has no money and tonnes of fitness motivation. It’s the month that despite getting birthday money, I’m always broke.

This year one of my goals is to save more money than I did last year. This means knuckling down and setting aside enough money to comfortably get through January 2019! I know that seems ages away, but this time last year, 2018 seemed ages away, yet here we are! Every year my resolution is that I’ll save more money and blah blah blah, another reason I haven’t set New Year resolutions and have set a 2018 bucket list instead! I suck at resolutions and find that by October I’ve already given up on them all as I’ve failed most of them.

As you all know (if you read my ramblings) I’ve recently bought my first house. Now I know the importance of money and how far it does and doesn’t go, and I’m relatively good at budgeting, so my other half tells me anyway! But moving into the first home that I’ve owned is really teaching me so much about money and saving that I didn’t know already.

Things like windows and doors are so much more expensive to buy than I ever thought. The difference between a UPVC door and a composite door is ridiculous haha. And don’t even get me started on kitchens, and paint. My god, everything is so much more expensive. One thing I have promised myself is to be more money savvy.

Set a strong and realistic budget

I made my own spreadsheet at the back end of last year. Once we’d found out we’d got the house we wanted, I wrote down all of my current outgoings, including savings as I still wanted to be able to save, and then included the mortgage payments and bills. This meant that come December when the first lot of bills went out, I was prepared and ready! If I earn any money from blogging that month this either goes on more products to use for my blog or I put it aside to save. For me having a spreadsheet works. It means I can clearly see where everything is going and how much money I have left over.

During the run-up to Christmas, I also add to the budget money for presents. Now I’m sad and tend to start buying in October for my family and friends. This means that I won’t break the bank one week before Christmas when I’m stress-buying for people!

Having a budget throughout the year (especially January) helps me to not feel too stressed out and makes me feel like I’m on top of things.

Set yourself a challenge

One thing I have found I like to do is buy things from Hollister. Oh and Amazon. Yeah, this January I’ve been pretty terrible because when we moved I discovered I had two pairs of good jeans. Literally two. I’m such a bad female I know I’m sorry, I’m such a letdown! So I promised myself that in the January sales I would pick myself up a couple of really good pairs of jeans.

You’ll be pretty proud because I bought 4 pairs haha. Not just a couple I know but I now have a strong collection of jeans. But it didn’t stop at jeans. It was a cardigan, tops and a few accessories later that I stopped. Which is where I’ve gone wrong. Before you know it you’ve spent something stupid like £200 on new clothes which I know (according to my budget) that I can’t afford to do this!

Setting yourself a spending challenge is a good way to become more money savvy. I’m setting myself a no spend February as punishment for how much I’ve spent this month. With the exception of something little for my other half for Valentines, I’m really going to knuckle down, not spend and put more money away next month. It will also be a good way to get ahead in 2018 and spend more time blogging and less time buying new clothes online!

What are your money goals for 2018?


19 responses to “How to be money savvy this January”

  1. Mara says:

    Love your post! But for me it’s impossible to save money. I mean, when I see something I really need to but it. My account is basically always on 0 if not -.. because well Moschino has a new collection, or it was 10% off at Jimmy Choo.. So I learned that no matter how hard I try, I am a shopaholic.. Congrats on being able to save!

  2. I’m jetting off travelling to New Zealand at the end of December so I need to keep my saving up! Lovely post

  3. Cristina says:

    January is always so hard but budgeting and aiming for a specific treat, like a new pair of jeans, is a great way to save. I recently wrote a blog about my saving method – the 50:30:20 – which you might be interested in!

  4. Justine says:

    Hahah I love it! So me. I can’t commit to it just yet, but next month this will come in handy. Thx for sharing!

  5. Lydia Samson says:

    This is a great post! I have found I can save … when it is attached to an adventure. Regular saving has to be deducted straight to my savings account, but if I am trying not to spend, I have to save it towards something, like a trip or debt or furniture. Good luck with your goals.

  6. My money goals this January are to pay off my credit card debt and start putting my side hustle money away for debt repayment.

  7. This is really a good plan. When you save more, you plan ahead for unforeseen events and become financially secured. It grows your level of confidence and can help invest in side hustle too.

  8. la shell says:

    Boy is it a lesson when you don’t budget properly. I’ve learnt that the hard way!

  9. Michelle says:

    After the end of the year, I am always so broke after buying people presents for the holidays and it’s so difficult to recover from that. Thanks for this post — it has great advice!

    Michelle x

  10. Ben says:

    Hi Sophie,

    great tips.I must apply them, to improve my financial situation 🙂

    Thank you

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