Looking back over the year, you may wonder what on earth happened to your money during 2013. Wages can easily slip through your fingers, and sometimes wasteful spending is all too easily done. As we look forward into 2014, it’s important to think about what you need to do with your money this year. You may have plans to get on the property ladder, or you could feel that your current car is costing you more in repairs than it should. You could have a couple of weddings to attend, or you may fancy going on a family holiday. Whatever plans you have for 2014, thinking about them well in advance will help you save up for the more serious demands on your cash, and will give you a good idea of your priorities.
Think about the year in monthly chunks. If you want to, then writing it all down in a list or on a calendar may help you to work out what you need to pay for in which month. For instance:
You may have some Christmas debts which will need paying in January, and the sales can be a temptation. Write a list of things you need and don’t stray, even if you see a bargain.
Valentine’s Day may require some extra expense, and the weather is likely to be bad, so prepare yourself for higher heating bills.
Mother’s Day lands in March so it’s likely you’ll need to account for this. Check the charity shops for unwanted fitness equipment if you want to buy some now, as donations will be high after resolutions fail.
The Easter holidays could mean that you need to organise childcare or entertainment for your children. The warmer weather may mean you want to spring clean, in which case why not sell some unwanted items?
Wedding season is beginning, so plan in advance for any that you’re going to attend. Think about the cost of transport, outfit and the wedding present – it all adds up.
Both the World Cup and Wimbledon start in June, so if you’re very interested in either of these then you may want to plan some time off work or budget for time spent watching matches in the pub.
The school holidays begin in July, so you may want to take a family holiday. Booking this far in advance and using deals for the separate parts of it yourself could save you a lot of money.
Birthdays of friends and relatives will pop up throughout the year, so try to be prepared with cards and stamps well in advance, this way you’ll save money on panic buying.
Although Christmas may seem ages away yet, buying the odd present here and there and putting a little money away for food and drink would be a huge help in September.
The evenings begin to draw in and Halloween is just around the corner, so now is the perfect time to review your energy supplier before the annual winter price hikes.
Christmas is on the horizon now, so start selling unwanted items and winter clothing on eBay as others start shopping for Christmas.
Make sure you budget for Christmas parties and catch up’s with friends over the festive season, as this is an expense which could run away with you if you’re not careful!
This article has been written by Coral Pearce-Mariner on behalf of Loans4Tenants. For more top money saving tips visit their website.