It’s all fun and games while the eggnog is flowing and the tinsel is still hung, but that post-holiday spending hangover can mean bad news for your financial situation if you don’t make adjustments in the new year. If the holidays left you (…and your budget) feeling a bit, well, bloated, then it may be time to take a cue from this past season and plan ahead for those to come!
If your credit card put on a few pounds from all of the merry making, then it’s time to rein it in and get back on track for the new year with these helpful tips:
Tip #1: Start Budgeting
The first step towards getting “back on track” begins with making a budget. Analyze your current spending habits to truly understand what adjustments you may need to make.
A few thoughts to consider:
- Which expense category is taking up the most of your monthly income?
- Are there unused subscriptions, memberships, or other hidden fees you can eliminate or reduce?
- How much money are you usually left with at the end of the month?
- What expenses can you possibly reduce by sharing with a friend or taking a more proactive approach?
- Are they ways you can be earning cash back or saving money on your purchases through apps like Fluz?
Once you understand which expenses might need some trimming, go ahead and build your budget plan for the next few months.
Tip #2: Tackle that Debt…fast!
Credit card debt is one of the most expensive forms of debt because the interest rates you can incur are so high. Don’t let your debt derail you in the new year. Make a plan to allocate any extra savings in your monthly budget towards making additional payments on the credit card with the highest rate of interest.
Tip #3: Use Cash-Back Apps
When it comes to money, we’re all about making it work as hard for us as possible. Therefore, we’ve taken some time to really use and explore several of the more popular cash back/rewards apps out there to make sure they’re all that and more. If you’re in the market to save some money and get cash back for purchases you’re already regularly making, then give cash back apps like Fluz a try! Get started here and earn up to three vouchers when you make your first purchase!
Tip #4: Go on a spending freeze
Put that credit card in “hibernation mode” and stick to your regularly scheduled programming. Take the next several weeks to hit the reset button financially and only spend money on your basic necessities. That extra streaming service subscription? Wait to purchase it until next month!
Tip #5: Get cooking!
Gather your favorite recipes (or ask your friends to share theirs) and get cooking! The winter months are a great time to settle in, get cozy, pour yourself a glass of wine, and enjoy some comfort food at home. You’ll be amazed how much money you can save when you take the time to grocery shop, meal plan, and put those kitchen gadgets to work.
Note: SavviHer is an independent promoter for Fluz because we really, really love the app.
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