How to Avoid Overspending in 2016!

*8 Ways To Avoid Overspending In 2016

Feeling the financial pinch after the excesses of the festive season? Many of us will find ourselves nervously watching the pennies at the start of the year. Fortunately, there are plenty of things that you can do to cut down on spending in 2016 and get your bank balance looking healthy again.

Get back to basics

At the start of 2016, you can avoid overspending by sticking to only buying the essentials you need to get by. While it can be tempting to book holidays and family days out to avoid the winter blues, it’s worth waiting until later in the year. Better deals come out closer to the summer, and waiting allows you to save up more cash for a nicer holiday.

Mend and make do

Before buying something, stop and think about whether you really need it? Could you get that pair of shoes resoled, for example, instead of throwing them out, or can you mend something instead of replace it? It’s the sort of budgeting your grandparents might have used, but you’ll be surprised how much cash you can save.

Plan your meals

So much money is wasted every week on food that goes uneaten and gets thrown away. Save money and be kinder to the environment by planning out your weekly meals and shopping accordingly. By shopping for a specific menu you can reduce waste and the savings will soon start piling up.

Have a budget for fun

January and February can be the most depressing months, so don’t be totally hard on yourself. To make sure you still have fun without breaking the bank, plan yourself an affordable budget for entertainment. Whether it’s going to the pub or out dancing with friends, allowing yourself the odd indulgence will prevent you from having crazy blowouts that you’re sure to regret.

Cook dinner for friends

Love dining out? Why not join forces with your fellow budget-minded friends and organise a dinner club? Simply take it in turns to cook and host people for meals at each others houses – you’ll get all the fun of eating out and enjoying each others’ company but for a fraction of the price.

Shop around

When you do need to buy something, don’t go to the first store you find. Shop around online for the best deals. Whether you’re getting insurance or a new pair of shoes, you’ll find plenty of price comparison sites that exist to help you get the lowest prices around.

Shop budget

Think that watching the pennies means that you have to sacrifice looking great? Think again – you just need to shop smart. Stores like BrandAlley exist specifically for shoppers who want designer clothes without the high price tags. Visit them here for your chance to to shop for top labels at as much as 70% discount on RRP.

Change your habits

Another great way to cut down on spending is to look at what you spend most money on each month. Sucker for red wine? Maybe a dry month would help you save – and give you a health boost too. Or why not try giving up meant for a month or two? You’ll be amazed at how much you can save, and how much healthier you will feel.