Top January Saving Tips for 2023​

Money saving always starts with creating a budget. There is no other way. A budget tells you exactly how much money you have and how much you can afford to spend. 

Weigh monthly expenses against income to calculate how much money you have left over after essential costs like mortgage payments, phone bills, and insurance.

From here, set a strict limit on how much you can spend on food and drink each month, and then give yourself a slice for luxuries and leisure expenses.

Always try to make sure that, after all of this, you still have a little to put away so that with each passing month, you’re a little better off. 

Use our free budget planner to help you get started.

Budget Planner

If money is short and you are forced to choose between one cost and another, always prioritise the most important expenses. Top of the list should be rent or mortgage payments. Missing these can lead to all sorts of unwanted problems, and perhaps even losing your home. So get it paid first. 

If you have any loan or credit card payments to pay, these should be your next priority before moving on to food, child care, travel, and so on. 

It’s always better to go without some of your favourite treats one month than fall further into debt or risk losing the roof over your head.

Energy providers, broadband companies, phone networks. They all want your business and once they’ve got you, they don’t want you to leave so they just keep their heads down, take your monthly payments, and hope you forget that you might be paying more than you need to.

Switching providers can be an effortless money saver and, thanks to the numerous specialist comparison and switching websites out there, the process has never been easier.

Using price comparison sites

Make sure you know how much you’re spending on household energy. Pay attention to your bills or, better yet, get a smart metre to understand exactly where you’re using your energy. Most energy providers will supply a smart metre for free. If they don’t, why not switch? (see above) 

From there, it’s a case of fitting energy-saving lightbulbs, turning electronics off at the wall, and washing clothes at a lower temperature. And don’t forget to make sure that radiators are only on in the rooms that you actually use.

Instead of saving money, why not make money by selling the things you don’t use? Forgotten clothes, old computers and phones, outgrown baby toys - they’re all worth money. Advertise them on one of the many auction or marketplace apps and earn yourself some easy cash at the same time as decluttering your home.

Sky-high petrol prices have been all over the news in recent months. Combine this with the negative impact motor vehicles have on the environment and perhaps it’s worth making 2023 the year that you leave the car at home whenever possible. 

Public transport isn’t as affordable as it used to be, but interspersed with walking or cycling, it’s often cheaper than using the car.