Christmas – it’s the most wonderful time of the year!
Sparkling lights, spending time with your loved ones and plenty of festive cheer. But with the festivities, can come increased spending, and our bank balances can look slightly less jolly.
Now is the perfect time to reset, take control of your savings and create good habits for 2025.
Here are a few ways to ease into saving while keeping it manageable, and hopefully beat those January blues.
The new year is a great time to take on a challenge, and there are plenty to choose from depending on your style and savings goals.
While some of us may attempt a ‘Dry January’ and cut out alcohol after a particularly damp December (you can read more in our blog here) – after a month of giving, why not embrace austerity and set some no-spend rules? Cut out all non-essential spending and only buy what you need. This challenge is a double win: save some money while also giving yourself some space to rethink what you value.
Challenging yourself to save the spare change is an easy, low-effort way to collect savings. Over time, those little amounts can turn into something meaningful, like funding your next treat or a weekend away.
Setting yourself big goals can feel daunting, so why not start with something more manageable. Small, actionable steps are a great way to slowly see some growth in your pot while not over-committing to a sum that you can’t afford.
Think of something easy, for example every time you make a coffee at home rather than nipping out to your favourite coffee shop, transfer what you would have spent into your savings account instead. You probably won’t even notice this, but will benefit from putting the money aside.
Another idea is to transfer a manageable percentage into your savings each payday alongside sorting your bills and expenses and after a few months you’ll be surprised with what you’ve achieved and may not have noticed it’s gone!
Saving doesn’t mean you can’t have any fun. In fact, celebrating your progress can help you to stay motivated throughout the year as you build towards a larger goal.
Hit that first milestone? Treat yourself! Once you’ve reached your first £100 or £500, reward yourself with something you love, or a purchase you’ve had your eye on but restrained from buying straight away. Make sure that this is within reason, of course – have a cosy night in or a special homemade meal instead of splashing the cash on going out. Remember that not every reward has to come with a price tag.
While saving money is definitely the goal, the real win is creating habits that stick for the long term and make savings that bit more achievable. Think of saving as part of your routine and a financial priority, not something you do when it’s convenient, or if you somehow have some money left at the end of the month. The earlier you can start, the easier it becomes to sustain over time.
January is all about new beginnings, and what better way to set yourself up for success than by creating a savings habit of a lifetime? Whether you’re starting small, embracing a challenge, or rewarding your milestones, every little step brings you closer to financial peace of mind.
By this time next year, your future self will thank you. And maybe, just maybe, you’ll be ahead of the holiday spending game. Here’s to a prosperous and positive new year!
Interested in kickstarting your savings journey? Aldermore have a range of personal savings account suited to your different financial goals. Have a look at our options and start today.