Let’s face it: January was very tough! stretching your income from December to the end of January is not easy especially because December is usually an expensive month. Getting through the holidays till the next payday, for many people, it’s the sixth week since the last payday and if you do not have savings, this can leave you feeling the hangover from Christmas expenses.
December expenses, and the long gap between the paydays, might have pushed some to take loans to get through the month as a result, surviving financially would have been a struggle. Nevertheless, we all survived anyways. But very possible February might be affected as well and to think that Valentine’s Day is just around the corner, there has to be a way to get this over.
There are simple things you can do to bounce back from this January hangover.
Firstly, cut back on expenses, track all your regular spending, to see where to cut back, and also, it’s time to go on a spending fast for 3-4 weeks! some call it “21 days spending fast” meaning you focus only on what you need, no unnecessary buying, just basic needs. During this period, you will become more conscious of when and what you spend, be able to save a little money to get back on track.
Here is the rule for the fast:
- Make sure it lasts for 21days or more.
2. Purchase only needs- Be sure to distinguish between wants/needs, the question here is; can I do without it?
3. Keep a spending journal- with this you will know where your money is going.
Secondly, have a plan and stay on a budget– No doubt some people are in debt right now, but no worries, create a repayment plan and stay committed to it, avoid further debt and get this sorted at once. It’s important to stick to the first tip to achieve this.
And lastly get on your make more money goals, what specific actions have you taken to make more money this year? It is not enough to just say I want to make more money. We must be specific! No waiting! It is time to start, lots of people are cashing out on side gigs, check here to learn more.
let’s find a need and provide a solution!