Budget tips to avoid the January spending hangover

Feeling a bit strapped for cash after the festive season? Christmas is over (aaaaw) and you've been dreading the thought of checking your bank balance following all the festivities. If your budget is feeling particularly stressed this month, don't panic! To help you stretch your budget, we've compiled some useful tips you can use, not just for January but for the rest of the year.

Eat in. You may have already committed to a January detox to get back into shape. Not only will it help your figure, but cutting down on the take-aways will be healthier on your pocket too. Time to hone up on those cooking skills!

Keep track of what you spend. Yes, this does mean that you need to check those bank SMSs and download your statement. Take note of how you regularly spend your money and make simple changes, such as making coffee at home instead of stopping to buy some on your way to work. You'll be surprised how much the small changes add up to.

Try having a no spend week. This one is tricky, but a little bit of creativity can really pay off. Try a no spend challenge by figuring out how to use what you already have. This can include:

• Using the remaining groceries in your cupboard
• Clean your house and find items to sell
• Carpool with colleagues to save on fuel

Budget, budget, budget. January doesn't have to become "Januworry." Assess your expenses and create a budget for the rest of the month. Put the necessities, like groceries, petrol, and school uniforms first and cut back on the entertainment. Having a budget can help you spend your money wisely, and have some left over for the fun stuff. Remember a budget only works if you stick to it and if you create a good one, you can use it all year round.