How to survive until payday from selling your stuff to getting the cheapest loan

MAKING your money last until payday can be a stretch in January, but there are several ways to help yourself get to the finish line.

An easy option is to get a cheap loan, but there are also other ways that won't see yourself racking up debt.

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The average family forks out £821.25 on Christmas so it's no wonder our wallets are feeling a little flat.

Many people are also paid early in December, meaning it’s an even longer stretch until the next payday.

Below we've made a roundup of easy ways to see yourself survive until payday in January, and it includes tips such as selling your stuff to putting your subscriptions on hold.

Work out how money you have

The first step to budgeting until payday is to work out what money you actually have.

Scrutinise bank and credit card statements to determine where your money is coming from, how much there is and where it is all going.

Many of us overlook the little extras that can send a more balanced budget into the red.

There are also loads of budgeting apps out there, and some banks even have their own online or app budgeting functions.

Citizens Advice also has a .

Use cash, not your debit card

Once you know how much is in the bank, withdraw a set amount for the week.

Using your debit card can be misleading as it's easy to lose track of what you're spending.

If you have hard cash in your hands it's much easier to see when it's running out.

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And once you take a set amount of money out for the week, try really hard to not go the cash point again.

Give up luxuries and unnecessary expenses

The first month of the year doesn't have to be boring even if you're feeling the pinch as there are plenty of things you can do for free.

From museums to light festivals, here are some of your options - and they're great for the little ones too.

You can also treat yourself to an evening in with a good film and nice bath as opposed to heading to the high street and splashing money you don't have in the sales.

Just because the item is reduced doesn't make it a good deal - only buy the item if you really need it.

Explore savings opportunities

When you have cash it's easy to turn a blind eye to wasteful habits, but when money is tight it's time to explore ways in which you can cut back on spending.

Can your mobile phone contract be reduced if you shopped around for a new one?

Is there a cheaper broadband deal you could get?

Another option could be switching your gas and electricity supplier - in fact, regulator Ofgem estimates you could save around £300 on your yearly bills by shopping around for a better deal and then switching.

If you haven't switched for a few years it's likely you're on an expensive tariff.

Just bear in mind that the savings will take more than a month to kick in.

It may seem a hassle but these small savings could mean the difference between a desperate month and a doable one.

Sell your stuff

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If you have a load of stuff you no longer need, January is the perfect time to get rid of it - and eBay is a great platform to use to sell them.

You've just gotten a load of new stuff for Christmas so make it a case of out with the old, in with the new and make some extra money while you're at it.

Or if you got Christmas gifts you're unhappy with, you can make a lot of money by selling these too.

Make your own lunch

At lunchtime it can be very tempting to buy a meal and a drink at work, but over a year this small indulgence could cost you big.

It’s estimated that the average Briton spends over £1,900 a year buying their lunch at work, with this working out at almost £160 a month.

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One top tip to help you save money this January is to make your own sandwiches for work instead of buying your lunch to save yourself a nice little sum.

Or as an alternative to sandwiches, make a larger portion of your evening meal and take the leftovers to work with you instead.

Buy groceries in bulk and freeze them

By making the most of your freezer you could help to make budgeting till payday a little bit easier.

If you buy in bulk, you can store the excess food that you have in your freezer and use it later on in the month.

You could also cook larger meals for yourself and freeze whatever food you have left over.

Using your freezer this way will help the food that you buy last longer and you shouldn’t have to throw away food left in the fridge.

Rent out your driveway

British homeowners could make an average of £1,090 a year by renting out their driveways, according to recent research.

Perhaps surprisingly, Sheffield is the city where you can expect to make the most cash at £1,539 per year.

It is then followed by £1,525 in London and £1,363 in Leeds.

There are a number of websites you can use to rent your driveway, although be aware that some will charge a fee.

Work from home

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Are there a couple of days in January that you could work from home?

By staying in, you’ll save on commuting costs although there is also a risk that you’ll spend more on heating.

If you can handle wearing a few more clothes and only turning the heating on at night, then go for it.

Put subscriptions on hold

The new year is a busy time of year with lots of things to organise, so will you really have time to flick through that magazine or watch all those TV channels?

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By putting your subscriptions on hold you can make January a bit easier financially – if you have a craving for the latest gossip you’ll be able to find it all online.

But not all providers will allow its customers this option, so we'd advise you to check your contract and contact the company directly.

Spend reward points

If you've spent a lot of money over Christmas through loyalty schemes, you should have saved up a healthy balance balance of reward points.

So why not put them to good use and spend them on essentials like food and toiletries this month?

With hundreds of different loyalty cards out there, these are the ones worth keeping in your wallet.

Get a loan

It can be tempting to seek shortcuts when you're struggling, and a loan should be considered a last resort.

But if you really not able to pay for everything in January, you can get personal loans to see you through a set period.

You should try to avoid payday loans though, as the interest on those are usually extortionate high, meaning that even if you make it through to payday you'll have to pay a huge chunk of your wages to the loan provider once you get paid.

Luckily for borrowers, a price war between providers means you can now get a personal loan for as little as 2.8 per cent per year, but those are only available with banks such as and if you borrow more than £5,000.

Also remember that all loan rates are "representative", which means that only 51 per per cent of successful applicants have to get the rate, so you could successfully apply but then still get a more expensive deal.

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