New Year’s resolutions that could save you money

New Year’s resolutions that could save you money

author: Emily

By Emily

If you’re hoping to get to grips with your finances this year, these common New Year’s resolutions could help.

Whether you’re planning to slim down or cut out the booze, we all start the year with the best of intentions. Here’s how much you could save with these common resolutions.

Quit smoking

Cutting out cigarettes is a fairly common resolution many of us take on when the New Year hits. If you’re a smoker, you’ll likely know the health risks associated with smoking – but are you familiar with the costs?

Research shows that the average male smoker will smoke up to 12 each day (totalling 84 a week) and the average woman will smoke up to 11 (making it 77 a week). With a 20 pack of cigarettes setting you back an average of £10.26, smoking will cost you roughly £40 a week.

If you committed yourself to staying away from the cigs all year, you might be shocked to find that you’d save almost £2,000 by the end of the year! 

Dry January

Saying no to the booze this month? Whether it’s for charitable donations or part of a health kick, giving up alcohol can help your liver and wallet alike.

According to Cancer Research UK, the average drinker consumes £64 worth of alcohol a month, although this doesn’t include special occasions like holidays or birthdays. If you decided to extend your non-drinking streak for the entire year, you’d be pocketing an extra £768!

Making your own coffee

Every year, we promise ourselves we’ll make our own coffee instead of going to coffee shops. Not only is reusing a flask much better for the environment, but visiting coffee chains can costa-lot too (sorry).

How much exactly? Well, if you’re popping in for a cappuccino or latte (typically priced around £2.50 a cup) before work every day, you could expect to rack up a massive £50 a month. That tots up to a huge £600 a year, which is no small fee.

With a fancy pot of instant coffee and a flask that’s built-to-last, you can get your daily caffeine fix without the hefty price tag.

Taking your lunch to work

Nipping out for a bite to eat during our lunch hour is a treat many of us find hard to resist, especially if you’re located in a bustling area with lots of exciting places to try.

Research shows that the average worker spends £3.69 on their lunch each day, adding up to £860 a year. Spending a bit of time prepping your own sandwiches the night before could save you valuable pennies, which could be better spent elsewhere.

Say no to takeaways

In the age of convenience, time-poor Brits are turning to takeaways more and more. With sites like Deliveroo popping up, we can now eat restaurant-quality food from the comfort of our own homes at the click of a button – so it’s no surprise we’re splashing out on takeaways.

It’s been found that we spend an average of £80 a month on treats like pizzas, Indian and Chinese. This totals a whopping £960 a year, which certainly isn’t pocket change we just have lying around. Limiting our takeaway treats to just once a month or so could leave us feeling quite a bit richer at the end of the year – and our waistlines could be a little slimmer, too!

What’s your New Year’s resolution? Let us know on Twitter

Disclaimer: All information and links are correct at the time of publishing.

author: Emily

By Emily

New Year’s resolutions that could save you money New Year’s resolutions that could save you money