6 sensible ways to hop over the January hump

January is one of the toughest financial months to face. Not only did you splurge a bit in December on food, gifts and holidays, but the new school year brings with it a host of necessities and commitments which needs to be paid up. Here are a few tips to get you over the January hump.

1. Cash in your points
If you belong to loyalty programmes at a grocery store or pharmacy, cash in your points in January. You can buy most of the kids’ stationery, lunchboxes and schoolbags at these stores – so use those points now.

2. Start a car pool
With fuel price at peak rates and skyrocketing transport costs, saving on traveling is essential. Those first parent- teacher days at the beginning of the year are great times to meet other parents and suggest a car pooling system for children with similar activities. You will be surprised how much time and money can be saved.

3. Family plans for phones
Have a look at the special packages that mobile phone companies have on offer. With a family of four, there are many options available for shared data plans and cheaper call rates. Communicate via a family WhatsApp group instead of sending texts.

4. Lunchbox savvy
When you have to pack lunchboxes for school, it is so easy to buy those individually wrapped cheese snacks or little snack packs of nuts and biltong, conveniently placed at the paypoint. They are actually quite expensive. Do not buy single serving packs of snacks like chips, cookies, yoghurt and pudding. You are paying for the convenience factor. Instead buy larger packages and separate them into single servings yourself using bags and small containers. This is a real money saver especially if you used reusable containers.

5. Sensible stationery
Have a look at the school supplies you already have. If the kids still have scissors from last year, reuse them. That goes for rulers, pencil boxes and other supplies, too. Go ahead and buy new, folders and pencils. That way your children feel like they are getting something new but it isn’t necessary to replace everything.

6. Honestly?
January is a great time to take stock. Have a look at how you spend your money and ask yourself if it is really all necessary. Do you need all 756 TV channels or could you go with a cheaper package? Do you really use the option to go to gyms countrywide or are you always at your local gym? Do you really need to subscribe to all those magazines? Cut the unnecessary fat off your usual spending and rather put it towards a holiday savings account.