If you are making your New Year resolutions this year start with the ones that save you the most money.
Hand up who made it to this new year with any savings? Not me! If you want to make it to the end of 2016 with a bit more money safely tucked and saved away, making these 4 simple changes could save you over £5,000 a year.
January is traditionally the time of year we look to make changes in our lives. From losing weight, getting fitter or eating healthier.
But what if your New Year resolution is to save money? Here are the biggest drains on your finances.
Smoking – £3,000+
Smoking 20 cigarettes a day can now cost upwards of £3,000 a year with the average price of a packet cigs now at a staggering £8.47.
None smokers also pay much less for life insurance policies.
Working Lunch – £860
Make time to prepare yourself something to take to work. For the sake of a little bit of extra planning and effort you could save yourself around £860 a year.
The average worker now spends £3.69 per day on their lunch and it soon adds up.
Drinking – £787
Cutting out booze in October and January, in particular, are increasingly popular, you can save a few quid as well as give your liver a well-deserved break. But cutting it out for a year can really save you a packet.
The average Briton spends £787 a year on alcoholic drinks – enough for a holiday or a new phone – 1.3million people spend a whopping £2,650 a year! (I know several.)
Coffee/tea – £487
The average Brit spends £2.09 a day on hot drinks at the workplace – totaling almost £500 a year!
If you’re not lucky enough to work somewhere that provides with free tea and coffee, bring your own from home.
It’s as easy as that! A potential £5,134 saved from four simple changes.
If you are cutting back on anything for New Year please let us know, we would love to hear from you.
He is also a contributor to Clear Debt, ICOUNT Money and M1 Debt Advice blogs discussing all things personal finance.