You will be better off and a better person this New year if you follow our tips!

If you have any other tips, then add them to our page to share with others.

Cigarettes and Alcohol

Some people may say that all you are doing is burning your money, or pouring it down the drain when it comes to these costs.

We all may enjoy one of these pastimes but when you look at the costs it may make you think again.

A packet of cigarettes every 2 days (20 for approx £5) will cost you over £900 per year. Cutting this in half or even changing to rolling tobacco could help make a big difference to clearing your debts or just giving you a few more pounds in your pocket.

If your New Years resolution is to try and wean yourself of the ‘cigs’, the NHS have a helpline that may be able to find you help and support in your local area, call on 0800 022 4 332.

If you normally socialise with friends by going for a drink in a pub or wine bar, you could cut costs by arranging to meet at someone’s home instead.

You can buy a bottle of wine or a pack of beer at a lot lower cost at the super market, but you still get to socialise. This can also save on possible taxi fares.

If you compare the costs, you could buy a bottle of wine for as much as one glass costs in the bar. And cutting back in order to save money may also mean you feel healthier, slimmer and more in control.

Keep In Control of Your Finances

Managing your finances carefully can instantly make you feel richer. By checking your bank account at least once a week, you’ll be able to plan your finances better and know where the money is going.

Take Packed Lunches to Work

Spending £3 a day on lunch at work adds up to £780 a year. You could save a bit of cash by taking lunch with you to work. If you find sandwiches a bit boring, try taking in leftovers from the night before to warm up in the microwave.

Trim Down Your Direct Debits

Go through your bank statements and check any direct debits you have going out monthly.

Shop around for better deals on things like central heating cover, house insurance, mobile phone calls, etc. If you are unable to swap to another company, then ring your current supplier and see if they will agree to a reduced package rather than you going elsewhere or cancelling altogether.

Try Cheaper Equivalents

Obvious really, but if times are hard, then it’s time to cut out the champagne baths and buckets of caviar. Try cheaper equivalents of the things you normally buy and your money will go further. Many supermarkets offer discounted brands so switching to these could make a huge difference to your weekly shopping bill.

Do A ‘Debt Remedy’ Budget

Use our financial planning tool located on this page to create a monthly budget. Plan out how much you need to spend on every area of your finances and see what’s left for any debts. If your income is not enough to cover your expenditure then we can provide detailed, personalised advice to help your situation.