How to save money in January?  It sounds almost impossible! Or is it? Here are a few carefully chosen ways to help you save money. Follow them and you can ensure that you never lose your financial footing.  Even after Christmas!

Saving Money In January

Feeling the January blues? They are a real thing. I feel them too, each year. Oh, January!

You start boxing up your Christmas decorations. The twinkling lights are put away and make their way back into your attic.

All the excitement and joy of buying, wrapping, giving and receiving gifts is behind you.

You just spent time creating happy memories with your friends and family. But that is now just that – a happy memory.

The holidays are over and it is time to get back to business. Happy New Year everyone!!!

Have you made your resolutions yet?

January is the month of planning, getting organized, getting healthier, and starting afresh. You make resolutions and goals for yourself.

There are plenty of people who choose to focus on their financial health. According to a survey, 32% of people made a new year resolution to “save more and spend less”.

Money and finances are one of your top priorities. You are determined to get your finances in shape. You promise yourself that this year will be better than the previous year.

To help you do that I wanted to share some easy, practical ways to save money in January.

How To Save Money – Your Monthly Guide

Curious about how to save money in other months? I have got your covered for all months. Here are the posts for the other months.
For those not listed here, come back and check towards the end of the prior month, because I will be doing a similar post to help you to budget wisely and save money.

Ways To Save Money In Your Budget – December
Your Monthly Money Saving Guide – November
Ways To Save Money Around The House – October
Your Money Saving Guide – September

In This Article

What Happens In January That You Need To Plan For
How To Save Money In January
Best Things To Buy In January To Save Money
Plan Ahead For The Next Months

What Happens In January That You Need To Plan For

January has two public holidays – New Year’s Day and Martin Luther King Jr. Day. Add to this, once in every four years is Inauguration Day. Both Martin Luther King Jr. Day and Inauguration Day are on Mondays.

Some people use these long weekends to get away to warmer places like Hawaii or Miami. Is this on your horizon? Make sure your budget can accommodate this expense.

Holiday sales

These sales start soon after Christmas (sometimes even before). As January progresses the pickings become slimmer but the discounts are huge. You may be able to score items at 75% – 90% discount off their regular price.

The key here is to buy only what you need and have planned for.

Taking down holiday decorations

Most people take their holiday decorations down in the first week of January. And if you have bought new stuff this year you have to plan how to store all those new ornaments for next Christmas. Do you need new containers? Do you want to organize your entire storage space – be it your basement/garage/attic?

New Year goals, resolutions, and more

January is the time to plan out your year, set goals, make resolutions and create new habits.

Do you use a planner or a bullet journal? In that case, you will want to buy new ones this month.

Related reading:

100+ New Year Financial Resolutions To Make 2020 Your Best Year
New Year Goals Setting: How To Make Goals That Stick
5 Ways To Be Purposeful & Achieve The Life You Envision

New sinking funds

Want to save money so that you can spend without guilt next Christmas? Or for birthdays, specials occasions or maybe even for back-to-school?

Even the most frugal people do like to spend money at the right time and for the right occasion. That is why they save for them in advance.

I start planning and saving for the following Christmas in January itself. Each month I set aside a little money into a dedicated savings account. This is my Christmas Sinking Fund. So, by the time December comes I have my holiday budget saved up and I can spend without guilt or stress.

Sinking funds are a great budgeting tool to have in your arson. They can be set up for many different purposes.

And you can keep track of them using the free trackers available in my resource library. Get access to them here?

How To Save Money In January

Build a fresh budget

As your life changes from year to year, so should your budget. Take a look at your last year’s budget, spending patterns and see where you have room to tighten.

Shop at thrift stores

Donations to thrift store increase during December and January. Many of us like to declutter and organize our closets in the new year. People make way for the new clothes they were gifted and give away their old ones.

Some people do this exercise in December ahead of Christmas. That means thrift stores have a lot of stuff for you to choose from. So if you are looking for clothes, do check them out.

Dial down on your heating

This may be the coldest time of the year. But be careful about those costly heating bills. Dialing down the temperatures by even a couple of degrees can have a big impact on your costs. Make that up by huddling in a warm blanket. And remember to keep rooms not being used closed and sealed to prevent heat from dissipating.

Best Things To Buy In January To Save Money

Holiday Decor & Gift Wrapping

If you need some new holiday decorations, lights, or some wrapping paper, this is the right month to stock up. As long as you have a place to store them you will be able to get stuff at attractive discounts. As for wrapping paper, try to scour the aisles for neutral patterns and plain colors and you could use them all year round. Don’t forget your stash of ribbons, tape and packaging materials.

New planners

Towards the latter half of January, stores and retailers will want to get rid of their supplies of yearly planners and diaries. So if you wait for a bit you could save money on these things.

Outdoor stuff

Many people renew their health and fitness goals in January. They make a fresh commitment to lose weight and exercise regularly. While gyms do good business, this is a good time to

Winter clothes

Once winter has peaked you can find some great deals on winter and snow gear. Think gloves, hats, and goggles. Need skiing and snowboarding clothes, gear, and equipment? January is the right time to buy them.


Once the holidays are over stores are eager to get rid of their excess stock of toys. If you have kids whose birthdays are coming up in the next few months why not go ahead and stock up now.


Linens have traditionally always gone on sale in January. You can find great deals on them. So, if you are in need of new sheets or duvet cover, this month would be a good time to budget for them and shop.

Plan Ahead For The Next Months

In addition to planning for this month, it is important to keep in mind what is happening in the next few months. Do you have any birthdays, important festivals and celebrations coming up?

If you have a few things coming up in the next few months then start planning for them now in order to avoid any financial curveballs.

Valentine’s Day

According to the National Retail Federation, Americans spent an average of $161.96 on Valentine’s Day. While most people spent on their significant other, more and more people are including their children, parents, friends, dogs, and co-workers in their list.

So if you are planning to spend money on flowers, candy, dinner dates, and toys then make sure you have money set aside for it.


how to save money January

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