As the new year begins, it's the perfect time to take control of your personal finances. To help you navigate 2026, financial experts have compiled a definitive list of 26 practical strategies to stretch your pounds further and even boost your income.
Cutting Costs on Dining and Daily Spending
January might feel long, but it's packed with opportunities to save, especially when socialising. Numerous restaurant chains are offering kids-eat-free deals and discounted menus to help your budget go further.
For instance, at Browns, you can enjoy signature mains like Fish Pie or Braised Blade of Beef for just £15 from Monday to Friday until 30th January 2026. For an even better deal, Bar + Block serves a £10 Lunch and Early Dinner menu, featuring a Rump Steak and Frites, from 11:30am to 5pm on weekdays.
Families can look to chains like Bella Italia, TGI Fridays, and Las Iguanas for their kids-eat-free promotions. Beyond dining, banking specialists at Finansvalp suggest a simple trick: withdraw your spending budget in cash or use a dedicated debit card for discretionary spending. This makes you more conscious of outgoings compared to contactless taps.
Smart Financial Management and Earning Extra
Getting your financial house in order is crucial. For effective budgeting, consider the 50-30-20 rule: allocate 50% of income to essentials, 30% to wants, and 20% to savings. If high costs bite, the 70/20/10 rule is an alternative.
Therapist Vic Paterson recommends creating 'emotional spending speed bumps'. Use your bank's saving pots and give them blunt names like 'Stop Tiddles Dying Cash' to curb impulse buys. For those in debt, Michael Taylor from Shifting Shares highlights zero-interest balance transfer cards as a tool to pause interest and regain control.
Turning clutter into cash is another win-win. Professional organiser Janine McDonald advocates a mindful shopping pause, while investment coach Polly Arrowsmith makes over £4,000 a year selling items on Vinted. Her tips include listing daily and posting quickly.
Significant earnings can also come from side hustles. The app YouSpotProperty offers up to £10,000 for spotting derelict buildings for developers, starting with a £20 voucher. Renting out a spare room can generate up to £7,500 tax-free annually, and platforms like TaskRabbit let you monetise skills like cleaning or gardening.
Essential Checks and Long-Term Boosts
Don't leave free money unclaimed. Check if you're eligible for government boosts like the Lifetime ISA (25% bonus) or a Help to Save account (50p bonus per £1). Shockingly, £31 billion in pension pots are 'lost'. Use the Government's Pension Tracing Service to find yours.
For savings, ensure you're getting top rates. Principality Building Society and Yorkshire Bank offer 8% interest on regular savers, though these are often introductory. Book a free financial health check with banks like Lloyds or HSBC to review your products.
Slash bills by ditching the tumble dryer for a heated airer (4p vs 85p per hour), consider a water meter, and do a direct debit detox. As Martin Lewis advises, scrutinising subscriptions can save £200 a year. Finally, for a midlife financial review, use the government-backed tool at midlife-mot.moneyhelper.org.uk.
By adopting even a few of these 26 expert tips, you can transform your financial wellbeing in 2026, starting with a more prosperous January.
