How to Beat the Winter Blues: Staying Motivated and Positive About Your Finances

January and February can be challenging months. The festive season is behind us, but you may still be feeling a financial hangover. Credit card bills from the celebrations and gifts arrive.
However, the start of the new year offers a clean slate, a new opportunity to reassess, refocus, and regain control of your finances. By leading with intention and a practical approach, you can achieve clarity and empowerment. So, we’ve provided some steps you can take to stay motivated and positive about your money this month:

1. Start With a Financial Health Check
Step 1, take stock of where you’re at. Have an honest look at your financial situation. List your source (s) of income, your monthly expenses and any outstanding debts.
Start small to prevent feeling overwhelmed. Begin by reviewing your bank statements, noting recurring expenses, and identify areas you might be overspending in. Having an awareness is pivotal to helping you make informed decisions.

2. Build a Budget to Reflect Your Priorities
Budgets aren’t just numbers; they reflect your goals and values! What do you want to spend money on? How do you want to feel when spending that hard earned money?
Once you’ve accounted for the basics, housing, utilities, groceries, and transport, then allocate funds for debt repayment and savings. Small amounts can make a big difference over time, so don’t be discouraged if progress feels slow at first.
Now comes YOU. Leave room for things that are important to you, that could be lunch with friends, 1, 2… okay 3 streaming services or a weekly coffee with friends. Small comforts can help you stay motivated. The goal is balance, not austerity.

3. Set Small, Achievable Goals
Big financial goals, like saving for a house deposit can feel distant. Break it down into bite-sized chunks and build the momentum.
Having short-term goals not only makes progress more tangible but also boosts your confidence. Achieving one small goal creates a snowball effect, making it easier to tackle larger challenges over time.

4. Mindset
As self-help books like 101 Essays* will tell you, shifting focus by letting go of the past is essential. Feeling guilty about past decisions won’t help but focusing on what you can control moving forward will. Adopting a growth mindset around money can make a world of difference.
For instance, treat financial challenges as opportunities to learn rather than setbacks. If holiday expenses were higher than expected, think about how you can better plan for next year. Shifting from self-criticism to problem-solving can make managing money feel less stressful and more empowering.

5. Lean on Tools and Resources
There’s no need to manage your finances alone. Use budgeting tools that are simple and intuitive- you may already have access to these for free via your bank. Automated savings features can simplify the process and help you stay accountable. Many banks also offer financial wellness tools or customer support to guide you through tough times.
If you feel stuck or overwhelmed, don’t hesitate to seek advice. Speaking to a financial professional or using free resources like citizen’s advice services can provide clarity and support without the pressure of navigating everything solo.

6. Focus on Long-Term Habits
True financial well-being isn’t about drastic, short-term changes; it’s about building habits that serve you for years to come. Simple practices like regularly reviewing your budget, automating savings, and living below your means can have a profound impact over time.
The goal isn’t, or shouldn’t be about, perfection. Financial success is about consistency, resilience, and learning from setbacks. Small, consistent improvements can lead to significant progress over time.

Summary
Remember, beating the winter blues and staying on top of your finances is a journey, not a sprint. By taking small, consistent steps and focusing on long-term habits, you’ll build a stronger financial foundation that can help you feel more empowered and confident.

*101 Essays That Will Change the Way You Think by Brianna Wiest