Daily Mail spending tips
A journalist at the Mail Online is after quick views from financial experts who could comment and offer tips on ‘No Spend January’ (not heard of this one before myself, but hey!). Just a few lines will do. Deadline is 3pm!
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After the excess of Christmas, January feels perhaps the longest month of the year and No Spend January is a way to help get your finances back on track.
Cutting down on your grocery bills by using up any left-over Christmas food and drink is an easy win. If, like me, you bought in far too much booze for Christmas, rather than going to the pub this month consider inviting family and friends round to your home instead.
Most of us receive smellies as gifts, so we can probably save money on toiletries. But if we received any gifts we didn't need, consider returning them for a refund or exchange.
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"If you can manage not to spend money on any non-essential items in January, then in theory you should be able to save one twelfth of your annual outgoings (one month out of twelve). It is a great way to see how much you can save when you really try. However, be wary of then spending extra in February to make up for a boring January!"
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No spend January is a fad. If you deprive yourself of anything it will provoke a feeling of lack. Evaluating our needs and wants along with measured spending is sustainable and way more effective. Why not start that ....now!
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No spend January is easy when you know how, make sure all of your bills and mortgage are paid for, its doesn't mean stop paying for things totally. It just means don't spent on anything non essential.
My top tips are to keep a weekly float for essentials and things you need like milk, swap out kids activities like cinema for a movie night at home with microwave popcorn, Or swap soft play for a long walk or a trip to the park.
Planning meals is essential to sticking with no spend January. Delete apps like Deliveroo and Uber Eats to avoid temptation. Batch cook your favourite meals and store them in your freezer.
Walk on the school run rather than drive which is also great for the environment, and lets face it most of us are working from home so it is a lot easier to not spend than if we were going to the office.
Forward planning is the key, and make sure you make a plan and stick to it.
Review subscriptions, and make a separate email folder for sales emails. If you want to buy something keep it in your basket until the end of the month, and if you still want it you can buy it then, if not you have saved!
Maddy Alexander-Grout - Money Saving Expert