How To Make Your Money Stretch Until Your January Payday

Once the fun and excitement of Christmas and New Year’s come to an end, January can seem a little bit boring. This time of the year can also be hard on your finances. Shopping and holiday-related activities can take a real toll on your bank account. You also may have to wait longer to get your paychecks, depending on where your paydays fall in relation to the holidays. Try using the money-saving tips below to help make ends meet until your January payday rolls around.

1. Pay With Cash

Even though paying with a debit card or credit card is convenient, it isn’t always the best option since it makes it easier to overspend. When you use cash to pay for your transactions instead, you can’t spend more than you have with you at any given time.

Set a budget at the beginning of the month so that you know exactly how much you have available to spend. Next, divide that total amount by four. This is the amount that you have available to spend each week. Try withdrawing that amount of cash at the beginning of the week and using it to pay for everything that you buy. This will make it easier to keep from accidentally overspending.

2. Pack Your Lunch

On work days, avoid the temptation to buy lunch. Instead, try packing it with you. Even though eating out at restaurants is fun and convenient, it can wind up costing you a lot of money. In Great Britain, the average person spends just under  £2,000 annually on lunch, which is a significant expense.

One of the easiest ways to save is by making your own lunch and bringing it with you. Try making simple sandwiches for something quick and easy. Alternatively, you could also cook extra when you make dinner the night before so that you have leftovers to pack for lunch. You may even want to try making a large meal at the beginning of the week and splitting it into smaller portions that you can take with you each day.

3. Put Your Freezer To Work

Buying food in bulk can wind up saving you a lot of money. If you can purchase a large amount of food at once and freeze some of it for later use, you can significantly lower your grocery budget. Another option is to make a large meal and split it into individual portions. You can then freeze those portions and reheat them for meals later in the month.

One of the main advantages of using your freezer is that you don’t have to worry about the food spoiling. That means that you can buy in bulk without creating a lot of waste.

4. Eliminate Extra Expenses Wherever Possible

Take an honest look at your budget. Chances are, you probably spend money on things that aren’t necessities. If you are a little bit short on cash, eliminating these expenses can give you more wiggle room in your budget.

For instance, if you buy a cup of coffee at your local coffee house each day, enjoying coffee at home instead could save you a significant amount of money. Monthly subscriptions are another area where you may be able to cut back. Take a look at any television or movie subscriptions, magazine subscriptions, or other accounts to see if you could do without them until your finances are back on track.

With a little bit of creativity, you may be able to find free alternatives that you enjoy just as much as the things you were paying for. For instance, if you enjoy listening to music, you could use Spotify on your computer, phone, or tablet to play songs from their collection completely free of charge.

5. Title Loans

Car title loans can be a good way to get your finances in shape and help get you through the january period. You can use your car as collateral and this can be a big boost in such scenarios according to TNL Car Title Loans.

6. Cash In On Items That You No Longer Need

If you look around your house or through your closet, you probably will run across a lot of items that you haven’t used in a long time or that you don’t want anymore. Selling those items could help you bring in a little bit of extra money to get you through the month. Another option is to sell any Christmas gifts that you received that didn’t quite hit the mark.

Although there are a lot of online marketplaces that you can try, eBay is one of the easiest to get started with. You may also want to look for companies that specialize in the types of items that you are selling. For instance, if you are getting rid of your CD collection, a company like MusicMagpie or Ziffit might be a good choice. Alternatively, if you have some books to get rid of, you could try selling them on Amazon.

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