After the festivities and excitement of Christmas, many of us are shocked to see that our bank accounts have taken a bit of a battering. If this sounds familiar, fear not. Here are some fantastic tips for saving money and cutting down your expenditures in the new year.

Approach the sales with caution

Sales can be great for grabbing a few bargains, but there’s always the temptation to go overboard and spend too much on items that you don’t really need. If you enjoy the sales, go with a list and only buy what you set out to get. It can be a great time to stock up on Christmas items for the following year, such as gift wrap and cards, but avoid fashion items that will soon no longer be on-trend. It’s not a bargain if it will get relegated straight to the back of your wardrobe!

save-money1Sell your unwanted items

Christmas usually sees consumers buying new items for their home, new clothes, and other bits and bobs that take up room in your living space. This means that January is a great time to have a clear out, and make some money while you’re at it. Use auction sites like eBay to declutter and make a little bit of cash while you’re at it. There are loads of guides available online that will help you make the most of your listings. Many people even manage to turn it into a regular little money maker.

Look to local suppliers for fruit and vegetables

Most of us like to cut down a little bit in January after the indulgence of Christmas, and it’s often a bit of a myth that healthy foods will cost you more than the processed stuff. It’s just a case of knowing where to look. Instead of using the big supermarkets, look towards smaller local suppliers. They often have great deals, and you’ll have the benefit of knowing that you’re supporting local businesses.

By starting 2014 as you mean to go on, and taking a good look at your personal finances and spending habits, you’re setting yourself up for a great year. Most individuals can make just a few key changes that will have a massive impact on their bank account. Make sure that it’s something you consider this year.