How to Recover From The Christmas Crunch

How to Recover From The Christmas Crunch

For many of us, Christmas is a time of excess. But with Christmas, come various forms of pressure that can make it a stressful time of year for many. We overeat, overdrink and, most importantly, overspend. But don’t worry, we’ve pulled together some of our top tips on recovering your bank account quickly and easily after the Christmas crunch.

Refresh your budget

You may feel as though your current budget is working fine, but don’t forget that the cost of living is constantly creeping up. Take some time to go through all your monthly expenses to make sure that it’s still manageable and make any necessary adjustments. That extra £5 on your car insurance and that £3 gym membership increase all adds up and needs accounting for.

Go dry for January

Taking part in Dry January is a great way to save money (if you enjoy a cheeky drink or two), as well as getting your fitness back on track after the festive period of overindulgence. Team up with your pals and family members so you can all face it together, and arrange alternative plans such as meals in with non-alcoholic cocktails or social walks in the country without stopping at the pub on the way home – the 31 days will fly by.

Start saving for next year

It may seem too soon, but now is a great time to get your savings plan in place for next year. Trust us, come next January you’ll be very glad you did when you don’t have to suffer the festive hangover. The best way to achieve this is to open a savings account (if you don’t already have one) and put away however much you can afford to each week/month. You’ll see your balance grow in no time.

Alternatively, start buying gifts as soon as Christmas is over. The more shopping you do in January (while everything is in the sale), the less you have to do next December (when everything is back to full price!)

Go on a financial diet

We’re all guilty of getting that morning coffee or lunchtime sandwich and thinking “It’s ok, it’s only a couple of pounds” but when you’re doing the same every day, you’ll be surprised how quickly it adds up. Start saving money by making some simple changes such as making your morning coffee at home and using a travel mug, bringing your lunch into work, joining a car share scheme and not eating out during the week or every weekend. By making these little changes, all that extra money can be put towards paying off any remaining debt.

If you want to share any of your own helpful money-saving tips after the Christmas crunch then let us know by leaving a comment or message on either Twitter or Facebook.