January money reset

January money reset

14 steps to start the year with your money sorted.

1. 1Gather December's statementsSee what came in and went out in the last month of the year.
2. 2Make January's budgetWrite a planned amount for each category before you spend.
3. 3Review your subscriptionsCancel the ones you haven't used in 3 months.
4. 4Check your payslipConfirm your take-home pay and deductions for the new year.
5. 5List your yearly billsInsurance, car tax, memberships: add them up and divide by 12.
6. 6Set up a transfer to savingsOn payday, even if it's small.
7. 7Set your emergency fund target3 to 6 months of fixed costs.
8. 8List debts from most to least expensiveBalance, interest rate and payment for each.
9. 9Renegotiate one fixed billBroadband, phone, insurance or energy: ask for a better deal.
10. 10Put 2027's key dates in your calendarTax deadlines, renewals, MOT or car checks, birthdays.
11. 11Plan any bonus or extra payDecide now what it will be used for.
12. 12File your paperwork in one folderPaper or digital, for everything important.
13. 13Pick 1 savings goal for the yearWith an amount and a date.
14. 14Review the month at the endWhat went well and what you'll change in February.