Happy last Friday of 2024, Friend!
Is it too soon to start the countdown? We’re just days away from a new year and…New Year’s resolutions!
It’s easy to get caught up in the “New Year, New Me” narrative, but we don’t want to feed into the pressure of perfectionism.
Instead, we’re moving into 2025 with the same message as usual: identify what you value and pursue it unapologetically!
Our mantra is closer to “New Year, Better Spending Habits.”
The foundation of better spending habits? A good plan. So let’s kick off the year strong with a plan for the coming month!
What to Include in January’s Spending Plan 📝
-
Fitness memberships. 🏋🏻♀️ You’re going to see a lot of advertisements for gyms. At the very least, think twice before jumping into anything new—are you really going to use it? And if you already have a membership, evaluate if you still love it or if you’re ready to look for new deals.
-
Taxes. 🧾 Our tax documents should start arriving soon, so start planning for any taxes owed, professional fees, and software you may use.
-
Annual bills. 📑 A lot of our bills are invoiced once a year (like our car registration, Amazon Prime, credit card fees, etc.). Don’t let them catch you by surprise, especially if they’re coming up soon! Make a list of all your once-a-year payments and log them in your calendar now.
-
Increased utility costs. 🔌 Y’all it’s cold outside, which means we’re likely seeing higher utility costs over the next few months.
What’s on Sale in January 📢
-
Holiday decor. If you really need it!
-
Winter clothing. But try to wait until March for the best deals on snow gear.
-
Furniture and home goods. A lot of stores clear out inventory this time of year.
-
Small home appliances. Things like blenders go on sale to align with those healthy eating resolutions!
-
Beauty products. Probably also related to those new year, new me resolutions.
But, remember— a habit we hold central to our values is only buying what’s in the spending plan, not just because it’s on sale.
Still, it’s great to know when must-have items are most affordable, so we offer this list as an FYI!
January’s Big Money Move: Complete a 90-day Transaction Inventory 📝
Looking back at our previous spending is the key to knowing ourselves better, understanding our buying habits, and identifying the types of purchases we make that are aligned with our values, and the ones that aren’t. It’s this activity that will help us make a better spending plan. But we gotta start here before we move on to the math!
Unsure of how to do a 90-day transaction inventory? Listen to our recent BONUS episode releasing TOMORROW (Dec 28) on exactly how, why, and what to expect; called Budget Better Bonus Series: Step 1 – Look To The Past.
AND get a video walkthrough of a 90-day transaction inventory when you purchase Buy What You Love Without Going Broke. We have a free resources page with a video walkthrough so you’ll know exactly how to execute your transaction inventory!
If reviewing your money highlights a need for some extra help keeping everything in order and staying on track we recommend the Monarch Money App. AND right now they are offering a whopping 50% OFF your first year with code: NEWYEAR2025. Sale ends 1/12/25**
What to Cook 👩🍳
-
Whole30 White Chicken Chili by 40 aprons (pro-tip: add white beans!)
-
Lemon Chicken Chickpea Soup by Simply Recipes
-
Immunity Bombs by Eat.Drink.Pure (Perfect for dry January and as a pick-me-up for winter colds!)
On Tuesday, Jen and Jill were joined by a guest to talk about what to do if you find yourself dealing with unexpected medical debt: Negotiating Medical Bills with Dr. Virgie Bright Ellington (Ep 470)
Today, they go into more detail on Budgeting Tips for 2025 (Ep 471).
Tune in wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!
To an exciting year ahead,
Misti
⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?
**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our own.
