Don’t be blue about money

Friday, January 25, 2019

Dont Be Blue About Money

Every year, the third Monday of January is dubbed “Blue Monday”, but is it really the most depressing day of the year?

January can certainly be the time of year when we feel the financial pinch as we try to recover from Christmas excess; struggle with returning to work after a long festive period, and then to help ourselves more we add the pressure of New Year’s resolutions – which we will keep …. honest!

But all is not lost, by taking stock of a few simple tips to help manage your money and boost your knowledge on bigger financial decisions, you can get your money habits back on track, and blow away those January blues.

1. Ask yourself: What am I spending my money on?
No one wants to start the year off feeling down in the dumps. Having a clear idea of your savings and spending budget for the months ahead can help you shake off any negative feelings.

Start with the big-ticket items like mortgage, heating, food bills and work your way through – it might be you cut back on unused memberships or meals out for a few weeks until everything is back in order.

2. Get time in the diary
Setting aside time to get your finances in order can be a great stress reliever. And once you feel confident and ready to go for those more exciting savings goals, the January blues will be nothing but a distant memory!

3. School yourself
Our research found 37% of parents wished they’d had a better understanding of how to save for short or long-term goals when they were at school. While we can’t turn back the clock, it’s important healthy saving and spending habits are passed onto younger family members.

Repeating the importance of saving for the future to younger friends and family will keep your own money management in check!

4. Ask for support
It’s important to remember that help and support is available if things are getting on top of you. Foresters Friendly Society offers practical and emotional support if times are tough which may help you to better navigate stressful times.

Got you thinking about where to put your extra savings?

Our savings plans start from as little as £25 a month. For more information, click here.

This blog is intended to provide information, not financial advice, to help you make an informed decision about savings and investments. We do not offer financial advice. You should contact a financial adviser, who may charge a fee, if you want financial advice. Membership benefits are discretionary and are not regulated by the Financial Conduct Authority and the Prudential Regulation Authority and are regularly reviewed by us to ensure they are relevant to our members.