January is the most stressful month for finances, but taking action now could save you over £1,000 by 2025. Follow this 5-step guide to cut your bills and feel more financially secure.
January is widely recognized as the most financially stressful month of the year, with a new study from household money-saving app Nous.co revealing that two-fifths of individuals experience heightened financial anxiety during the first four weeks of January compared to any other time. This surge in financial worry can be attributed to the lingering expenses associated with the Christmas holiday season, coupled with the general winter blues that often accompany this period.
Greg Marsh, a household finance expert and the CEO of Nous.co, acknowledges the widespread financial strain experienced by many in January: “It’s hardly surprising so many people are constantly worried about money in January after an expensive Christmas. During the most depressing time of the year, getting on top of your contracts might feel like the last thing you want to do.” However, Marsh encourages individuals to take proactive steps now to mitigate their financial burden, emphasizing that doing so could potentially save them over £1,000 by 2025.Marsh outlines a five-step guide to effectively reduce household bills in 2025, highlighting significant savings achievable through smart financial management. He notes that the majority of households can lower their energy bills and secure substantial reductions by switching to budget-friendly SIM-only mobile phone plans. Transitioning to newer, independent full-fibre broadband networks, which often offer more competitive pricing compared to established providers, can further contribute to bill savings. Marsh acknowledges the common tendency to procrastinate on these financial tasks, attributing it to the complexity and perceived boredom associated with managing contracts. He emphasizes that suppliers often employ deliberate strategies to make it difficult for consumers to secure fair deals, leading to individuals putting off essential financial adjustments
PERSONAL FINANCE BILL SAVINGS MONEY MANAGEMENT ENERGY BILLS MOBILE PHONE PLANS
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