Happy Frugal New Year! Setting targets for your wallet in 2016

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Happy Frugal New Year! Setting targets for your wallet in 2016. At the start of every year, we begrudgingly make resolutions to improve our quality of life. Usually these centre around weight, drinking, smoking and all the other things that tend to go hand in hand with the excess of Christmas. Yet there’s nothing perhaps as important for many as making real changes to spending, and cutting down on outgoings to kick-start a more fruitful Frugal New Year for a bank account.

Need a few ideas on where to start? Let us help you out.

For a frugal New Year cleanse that email inbox

There’s a reason Gmail introduced the three-tab system for inboxes: to remove further clutter (and the associated temptation) from a regular inbox. “Promotions” is now its own domain, but luckily, it makes it easier to delete, and unsubscribe from, all of those deals that flood your inbox – especially around Christmas and New Year. Get brutal: unsubscribe from everything you don’t need. Hey presto – you don’t get sucked in by deals that could ruin your disposable income before you’ve started 2016.

Audit your credit and debit cards will let you have a frugal New Year

Do you have more than one credit or debit card? Is there any good reason why you have multiple accounts? Do you even need a credit card at all? These questions can be answered effectively with a committed study of each bank account. Do you have a tiny bit of debt on a relatively unused card? Pay it off with another, then close it. Remove the temptation, and consolidate your position.

Budget calculators are your friend

The likes of Money Saving Expert provide budget calculators that are absolutely fantastic at getting a handle on what you spend. They’re as in-depth or simple as you want them to be; they can factor things as simple as rent or petrol, or other issues as minute as lunches during work, or subscriptions to video streaming services. You may never know how much you could save.

Bring a new look to your kitchen cupboards

Combining health consciousness and a firm decision to save money, have you considered changing your food shop purchases for 2016? Sometimes, replacing one favourite with a probably new favourite could save you money. Like chicken? Consider turkey. Do you wonder what certain (cheap) fruits and vegetables taste like? Now’s your time to find out. Like premade sauces? Imagine what you could do with herbs and passata. Get a new cookbook and see what you can make.