How to Make Extra Money in January

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As 2019 gets underway, it’s likely we’re all still feeling the pinch of Christmas spending. From gift buying and food expenses to trips out with friends and meals with family, there’s a possibility that the outgoings run into the hundreds and even thousands.

Managing our money in the new year so we can account for the essentials can involve a lot of careful planning and budgeting. However, there are some ways to make some extra money savings in January to help boost your funds. Here are some ideas to offer inspiration.

Have a Clear Out

Decluttering is the perfect way to start the new year on the right foot. As well as giving you the opportunity to refresh your home, you can do away with things you never use anymore that could be sold on to those who will.

Begin with the bedrooms and work your way downstairs, clearing out cupboards and working out what can stay and what things can go. Once you know what you’d like to do away with, be it an old pair of jeans or even a long-forgotten sofa, you can decide what you can sell on.

Auction sites such as eBay are ideal for listing an array of items and you could find that, even from a few sales, you have enough to pay for a weekly food shop or petrol for the month.  

Switch Suppliers

As well as decluttering your home, you can spend January decluttering your finances. If it’s been a while since you last looked at switching energy supplier or your car insurance provider, take the time now to shop for the deals to be had.

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By switching energy supplier, you could save over £200 a year in some cases. This means you free up money that can be used elsewhere.

Shop for Bargains

January is the month for bargains. You could save money in the long run by replacing faulty electricals at home with new models at discounted prices.

For example, if you’ve had to pay for someone to repair your washing machine a few times, it could be less costly to swap it with a new one. Shopping the sales and doing some research before you buy will help you to make sure you’re buying the best model for your budget and needs.

In addition, if you are browsing the sales this year, assess what you need around the home. Buying in bulk can create savings in the long run, so look carefully at offers in the supermarkets and shops to see if there are more affordable options available that will last in the long term.