The new year is in sight, and so many of us will have made those all-important new year resolutions to make the next year even better than the last. That might mean improving your health and fitness or changing your lifestyle in some way, or even traveling more and seeing the world. But a lot of people place some focus on their finances at this time of year, especially once Christmas is over. With that in mind, here are some tips to help you get your budget back on track.
Reduce the food bill
One of the biggest outgoings many of us have after our mortgage and rent payments is our food bill. It’s crazy how much you can spend on food and toiletries each week, and the cost can really mount up over the month. However, we still have to eat and keep ourselves clean, right? So why not try some of these tips to help you reduce your food bill? One of the main ways you can do that is by meal planning. Sitting down and working out what you have in your cupboards and pantry and then writing a list of the items you need only. This can dramatically reduce your food bill.
Sort out any debt you have
After the food shop, many people can spend a large chunk of their income on paying a debt. This isn’t just the mortgage, this is more like credit card debt. Owing out multiple amounts and to various card providers can end up costing you much more than it needs to. If you find yourself in this predicament don’t threat, the first port of call would be to check your credit history and see what kind of situation you are in. This will enable you to highlight the areas that need tackling the most. A great tip would be to try and consolidate all of those debts into one affordable monthly payment.
Save money on those things you have to buy
There are always things we have to buy, like clothes, birthday presents, and even next Christmas to consider. That’s why you could consider using discount codes, vouchers, and coupons to bring the cost down. There are also some bargains to be had on more investment pieces, such as a unique gift like jewellery or a watch. If you look, you can pick up things like used Cartier watches or antique jewellery and they can be an amazing value. You might also want to think about shopping when stores have sales on. They can reduce items as much as fifty percent at a time, especially in January and after summer.
Start saving money on your energy bills
Some people don’t realize that they have flexibility when it comes to their energy bills, but you are not stuck with the amount you pay. There are ways you can reduce your bills by changing provider or making changes to some of your habits in your home. Quite often, energy providers will give great cost saving deals to new customers, and not reward loyalty. So why not change energy providers? A great tip is to use comparison websites to see where the best deals are being offered.
Let’s hope these tips help you get your budget in order in the new year.
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