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Money-Saving Tips to Get Through a Skint January

04 January 2021


Pick up great money-saving tips for January from the B&M team. You can start to rebuild your bank accounts and achieve your savings goals a small amount at a time if you:

  • Start budgeting your money
  • Ditch the dining out 
  • Invest in yourself
  • Quit bad habits 
  • Avoid the takeaways 
  • Bring your own lunch

Our spending habits can get out of control over Christmas, and it’s quite a shock to the system to see the small amount left in your bank accounts.

In this article, the B&M team reveals how to save money in the new year. 

Start budgeting your money

Stop cracking out the credit cards on a whim. Instead, go through your bank account online and work out how much you spend on a typical month - right down to the odd snack.

Then consider which things you could go without. Maybe lose the gym membership temporarily and work out at home for a while. Do you really need those entertainment subscriptions? Why not rent DVDs from your local library for the time being instead?

Next, put together a comprehensive budget and set a weekly spending limit to stick to religiously until you reach your savings goals.

B&M Top Tip: Keep a “master budget” on your computer and carry around a pad to take quick notes on what you’ve spent each day.

Ditch the dining out

Lunch or dinner out with friends can really eat into your savings. Instead, why not organise the odd picnic or dinner party where possible?

Invest in yourself

You’ll see better results when you save over time. Transfer money into savings accounts to prevent yourself from dipping into it needlessly. It will gain interest and you’ll end up with more!

Compare prices for the things you already pay for - energy, water, breakdown cover etc. - and see if you can find cheaper alternatives.

B&M Top Tip: Have a clearout of any unwanted items and sell them online to make a little extra cash!

Quit bad habits

If you smoke, try to knock it on the head now. Cigarettes can make a big dent in your budget as well as causing major health problems.

Stop snacking or eating junk food and try cooking from scratch. Buy fresh ingredients in bulk, cook large batches and freeze them to eat later for serious savings.

B&M Top Tip: January sales often lead to you buying stuff you didn’t need in the first place! Why not shop online instead? You can often find better bargains and bulk options to save money.

Avoid the takeaways

A takeaway is a nice treat, but it’s easy to get into the habit of relying on them! Be disciplined and reduce your takeaway purchasing to once a fortnight or less.

Bring your own lunch

The cost of sandwiches from the local deli can add up over time. Instead, prepare food you love at home and then bring it into work.


B&M Top Tip: Avoid expensive coffee shops and carry your own hot or cold drinks.

So, our top money saving tips for January are: take note of your spending and budget carefully, enjoy food at home, revise your existing finances, ditch expensive habits, stop eating takeaways and bring homemade lunches to work. 

B&M Top Tip: Find affordable groceries in our Everyday Essentials section.

Do you have any special saving techniques? Share them with the B&M Community via Twitter, Facebook or Instagram!


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