8 Tips for Making It Through to Your January Payday

Making It Through to Your January Payday

It could be challenging to make your money last throughout January. According to The Bank Of England, an average UK household spends an additional £740 in December, which is higher than the average of £2,500. Also, people are paid earlier in December, making it a long stretch until the next payday. If you feel like your wallet is a little flat, here are some of the best ways to save money and tide yourself over until January’s payday.

Figure Out How Much Money You Have

You cannot draw up a viable plan if you don’t know how much money you have. Scrutinise your credit card and bank statements to see how your money has moved in the past month. Though it is challenging to take a good, long look at your finances, doing this can help you create a more focused budget for the next month.

Explore How To Cut Back On Regular Spending

If money is tight, you can explore ways you can trim your expenses. Do you have a mobile phone contract bloated with fees? Are there cheaper energy or broadband deals you could have? 

If you haven’t changed in years, you are likely to be spending more than you should, and you could save hundreds of pounds when you shift. Your supply would not be interrupted when you switch, and the entire process should not take longer than three weeks.

Request For Help From Your Suppliers

Suppose you are already on the cheapest bills and you are still struggling. In that case, you could ask your provider for help. Many companies are willing to find solutions and could even give you a payment holiday. 

For instance, struggling homeowners can get a payment holiday until July 2021 as COVID-19 relief. This mortgage support is available for households that had not gotten a payment break. You can apply for a payment holiday or an extension of one until 31 March 2021. Note that you shouldn’t ask for a mortgage holiday unless you need it since interest still accrues during the break.

See If Your Landlord Offers Flexible Payments

If you are a private renter, speak to your landlord about support. Social renters, meanwhile, can speak to their housing association. Ask if you can defer or reduce payments until when you can pay full price again. You do not have to worry about evictions for now; the government has changed the law so that tenants have until 11 January before bailiffs start enforcing evictions again. No evictions should be in effect until 25 January.

Ensure You Receive The Benefits You’re Entitled

One of the best ways to save money, especially for low-income households, is by claiming benefits. Check what benefits you can claim by going to Turn2us, Policy in Practice, entitledto, and similar websites. These tools can only provide indicators and do not have means-tested benefits so you could be entitled even more.

Apply For A Grant From The Government

Around 8,000 charities and organisations all over the country offer cash for workers made redundant by the pandemic. You don’t typically need to pay back a grant, but do double-check if this applies. There are around 8,000 charities and organisations in the UK that offer cash to help struggling workers who’ve been made redundant. Most of the time, you won’t need to pay a grant back, but check this is the case before you apply. The amount depends on the organisation, but it is usually between £500 and £10,000. 

Find Ways To Make More Cash

You could also find ways to earn money. January is the best time to sell unwanted clothes on Depop, eBay, Facebook Marketplace, Shpock, and similar websites. Check if the site charges listing fees or takes a percentage of the sale, though—you might end up with much less than you want. 

You can also fill out online surveys which are a quick way of making money if you have time to spare. YouGov, i-Say and Swagbucks could pay anywhere from 5p to £1 for each answered survey.

For telly-loving people, there is money to make from sharing opinions on the latest shows. The Viewers, which puts together research panels for programme-makers, gets feedback from focus groups. It is possible to earn up to £50 for a 90-minute Zoom research panel. You could also earn up to £10 for a programme review, or anywhere from £1 to £3 for a survey. 

Be Wise About Borrowing

If you cannot pay for everything in January, though, you can get a personal loan for a short period. Find the cheapest ones through comparison sites like MoneySuperMarket or Moneyfacts. Note as well that all loan rates are “representative.” Only a little over half of successful applicants get the advertised rate, which means you might end up paying more than you’re ready to pay.


If the first month of the year is a little tough to get through, don’t worry. There are various ways you can make enough to get by or until the next paycheck. A combination of these items could earn you a few hundred pounds, which should be enough to last throughout January.

Keep reading Frugal A Lot for the best ways to save money. We compile tried and tested money-saving hacks for you and your family. Bookmark our page for more tips!

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