It is hard to know what it worse about the post-Christmas period. Is it the comedown after a sudden burst of excitement, or do you struggle with spending less time with your beloved family members?
Perhaps you are carrying the extra weight of festive indulgence, but lack the motivation or the opportunity to lose this during the biting cold of January?
If you are anything like us, however, you’re main New Year gripe will probably revolve around a sudden lack of disposable income. After all, lenders and energy companies do not take the demands of the festive period into account when the New Year begins, leaving households nationwide to struggle as everyday life resumes.
How to beat the January Money Blues
With this in mind, here are three ideas that can help you to cope with the festive hangover and manage your ailing finances effectively throughout January: –
- Focus and try to think with a clear mind
According to a recent survey conducted by Bingosites.net, an estimated 20% of respondents claimed that the three-day festive bonanza made them feel anxious. This may come as a surprise to some, but what cannot be denied is that the symptoms of this stress can be difficult to alleviate once January starts and households begin to struggle with their finances.
It is crucial that you are aware of this and take actionable steps to focus and negate such anxiety, however, as this enables you to think clearly and approach the New Year in a positive and proactive frame of mind.
- Create a Unique Budget for January
While it is well known that budgeting holds the key to successful money management, many households become too rigid when formulating financial plans. This is a false economy, as while it is important to create a disciplined and easy to follow budgeting plan a lack of flexibility can cause huge problems in the event of exceptional circumstances (such as those that occur during Christmas).
To overcome this, do not be afraid of creating a special budget for the months of January and February, as you squeeze your everyday expenditure to create additional disposable wealth that can be used as a contingency. Whether you save this capital or commit it to inflated bills will depend on your circumstances, but the key thing is that you remain focused and proactive.
- Plan something positive for the near-term future
The demands of a financial shortfall and interim budgeting can be challenging, while they can also take a mental toll as you look to beat the winter blues. It is therefore a good idea to plan something fun and enjoyable for the near-term, whether this is a city break, a weekend getaway or a luxury purchase. Perhaps you can use a percentage of the additional money that you save to fund this, securing the purchase with a deposit and providing your mind with something positive to focus on.