January is a very long month! Here’s how to survive financially

January always seems like an incredibly long month! If you have spent more money on Christmas than you intended, you are probably already financially stretched as January arrives, particularly if your employer has paid you early for Christmas. But there’s still a whole long month to go before you next get paid.

So what can you do to try and survive financially during January? Here are a few tips that may help you to save money and get through the month.

Work out a budget for the month – and stick to it

The first thing to do is to understand the extent of the problem. Most of us would just prefer to drift from week to week and hope it all goes away. But the earlier you make a plan to get through the month, the more likely it is that you will be able to do it.

So make one list of “income” – the money you have available now, and anything else that is going to come in during the month. Then another list of “expenditure” – everything you need to spend money on for the rest of the month. 

For expenditure include anything that will automatically come out of your bank account, and all other spending you are likely to do.

If your income is enough to cover your expenditure, that’s great. You just need to be careful not to overspend as the month goes by. But if you don’t have enough income to cover your expenditure, read on to find out possible ways round this.

Plan one or more no-spend challenges

No-spend challenges were very popular during 2025, and January is a great time to do one or more of these. A no-spend challenge is when you make an active decision to stop spending money on a particular item, or category of items, for a certain period of time, perhaps a week or a month.

Examples of things people stop spending money on are clothes, cosmetics, salon appointments, eating out, going to the pub, takeaway coffees or meals, magazines, streaming services. It can be surprising how you can save money by doing one or more no-spend challenges. And because it’s only for a short time, it doesn’t feel too much of a sacrifice.

To find more about no-spend challenges, see our article Are you ready for a no-spend challenge?

Start a side hustle

January is a great time to start new things, so how about adding a side hustle on your list? A side hustle is any kind of extra money earning activity that you do alongside your main job. Common side hustles include selling products you have made, offering services such as dog walking, babysitting or housesitting, online content creation such as videos, blogs or podcasts, proofreading, translating, tutoring and many others.

To find more about the ins and outs of side hustles take a look at our article Help for Hustles.

Sell unwanted goods

Another quick way to raise some quick cash is to sell unwanted goods. Whether it’s furniture and other household goods, clothing and accessories, children’s equipment and toys or even those unwanted Christmas presents, there may be people willing to pay money for what you no longer need.

If you prefer face to face selling, there are some indoor and even outdoor car boot sales that still run during the winter months. Or if you prefer the comfort of your own home, look at online selling sites such as Facebook Marketplace, eBay, Gumtree, and other local selling sites.

Hopefully you will find buyers for at least some of your items, and the cash you bring in will help to tide you over until the end of January. 

Switch your bill suppliers

The thought of changing your bill suppliers can feel very daunting, but it is usually quick and easy to do, particularly online. And you can often save money by doing this.

So take time to go through some of your major bills such as energy, broadband, and any kinds of insurance you have, and look at other potential suppliers. You can do this either through a comparison site such as Compare the Market, USwitch or Money Supermarket, or look at suppliers recommended by friends and family. You may be able to get a better deal that will save you money going forward, and could also be eligible for a refund from your current provider if you have paid in advance and have credit with them.

Rearrange your direct debits

Another potential way to save money during January is to see if you can rearrange any of your direct debit payments to a different day in the month that suits you better. For example, if you have a direct debit going out halfway through the month, see if you can change it to the 1st of the next month instead. If the timing works, you may be able to postpone this month’s payment till next month.

You may be able to do this online, or may need to contact the company directly. Either way, it is worth investigating whether a change of payment date could be beneficial to you whilst still meeting your commitment to pay.

Open a new bank account for bills

Whilst on the subject of paying bills, it can be beneficial in various ways to set up a separate bank account from which you pay your bills. This can help to see clearly how much your bills are and which bill is due to be paid when. You can pay a lump sum from your main account into your bills account at the beginning of every month, and then have the peace of mind knowing they will all be taken care of.

If you decide to do this, look for a special deal from banks that offer incentives for you to transfer your bank account to them. This doesn’t usually mean you have to close your current account, just open one with the new bank, and commit to pay a certain amount of money in and a certain number of direct debits out per month. In return they may give you a cash bonus or other benefits. Definitely worth a look!

Considering borrowing as an option If your January finances are in a mess, you may be tempted to take out a loan to sort them out. But do this with caution. You may be tempted by payday loans or short term loans, but the interest rates on such loans are usually incredibly high and could get you into more debt than you already are.

Always bear in mind that a loan is a big financial commitment that you need to weigh up carefully and should only be taken out if it is definitely affordable for you. However, a specific debt consolidation loan could be worth considering. It would enable you to pay off all your current debts and be left with just one loan repayment to make each month. This remaining payment would be at a lower rate of interest than some of the other debts (e.g. credit cards) that you currently have. And if you took out a debt consolidation loan in January, the timing could mean it would take care of your existing debt repayments straight away but you would not have to make your first new loan repayment until February.

If you’d like to explore a debt consolidation loan further, do get in touch with us at Loans 2 Go to see how we may be able to help. Full details, including terms and conditions are available on our website. Borrowing is optional and may not be suitable for everyone, so always consider your circumstances and affordability before applying.

We hope that the ideas in this article help you to save money and survive that long month of January.

For more ways to save money on everyday aspects of family living, check back here soon with us at Loans 2 Go.