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What is no spend January I hear you ask? Well it’s really simple. You decide the rules, you decide the budget, you stick to it and see how much you can save by the end of the month. Scots are stereotypically known for being ‘tight’ with their money. This year I created a ‘No Spend January’ worksheet – which you can get here No spend january.
Here are some suggestions for saving money:
- Coffee, coffee, coffee – are you a caffine connoisseur, can’t get through your day with a hit of coffee? If you are buying your coffee everyday then you are probably spending quite a lot of money, maybe without realising. If a coffee costs £2.50. over five days adds up to £54 a month or £650 a month. Why not make a coffee before you leave?
- Drink tap – it’s pretty decent in Scotland but you could also get a water filter like this one. You could also use a reusable bottle such as this one, which will also keep costs down.
- Make your lunch – it doesn’t just keep costs down but also helps you keep healthy, it’s so tempting to buy a chocolate bar when you go into the shop.
- Sell your unwanted stuff – we are becoming a nation of hoarders (or is that just me!) There has to be some items that you no longer use or need that someone else could get a lot of use out of. If you are doing a No-Spend one of the rules is that any money you make above and beyond your usual wage can be spent!
- Walk or cycle rather than using the bus or your car. It will help you get fitter too!
- Switch to cheaper brands – shop smart when you are going for your groceries. If it’s something that you aren’t too worried about i.e. bread then go for the shop’s own brand.
Let us know how you get on with your no spend January, even if you just try it for a week.