I'm a business expert - go vegan, give up booze and coffee, and sell your clothes to save cash in January 2025

• One in five Brits are setting New Year's resolutions to save more money in 2025
• Markus Lindblad from Haypp offers tips on saving nearly £1,000 in January
• Suggestions include participating in Dry January, quitting smoking, and reducing coffee spending
• Other ways to save include eating in rather than dining out, clearing out your wardrobe for extra cash, and going vegan
• Small changes, like brewing coffee at home and selling unused items, can add up to significant savings

New research has revealed that one in five Brits are setting a New Year's resolution to save more money in 2025, while 40% have reported feeling "extremely stressed" by the cost of Christmas.

But while January is often a tight month for many, there are several ways to give your bank balance a boost and start the year on a strong note - such as participating in Dry January or Veganuary.

Amid this festive financial strain, Markus Lindblad from Haypp shares his tips on how Brits can save nearly £1,000 by reducing unnecessary expenses this January.

Dry January

“Going tee-total might be just the trick to getting you a bit of extra cash this January, and Dry January is the perfect time to start.

“On average Brits spend around £15.30 a week on alcohol, looking at this cost over the month, you can save around £68. Not only will it benefit your bank balance, but it will also make you feel better too.”

Stop buying coffee

“Brits have definitely developed a strong coffee culture over the years, with oat flat whites and matcha lattes becoming popular on the coffee scene as a daily essential for many.

“With the average Brit spending £3.40 a day on a cup of coffee, this equates to £105 across January. So next time you fancy a coffee, brew up at home!”

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Quit smoking

“With the price of 20 cigarettes now costing around £15, it’s certainly not a cheap habit for smokers. Not only is it better for your health, but stopping smoking can also bring lots of financial gain too.

“With the average smoker spending around £52.50 on cigarettes a week, quitting the habit throughout January will save you a huge £231.”

Stop eating out

“On average it’s said that Brits eat out at least 1.5 times a week, spending approximately £53 per meal. If you do the maths this works out at nearly £80 a week, £79.50 to be precise.

“Whilst it’s more convenient for Brits to buy their lunches at work or order in a takeaway, they don’t realise the impact this has on the bank balance. By eating in for the whole of January and making your own meals, you could save a huge £352.”

Clear out the wardrobe

“January is the perfect time to clear out your wardrobe to make space for all the gifts you’ve received over Christmas. Even better, you can make some money from it!

“Apps, such as Vinted and Depop, are the perfect way to make a bit of extra cash, with some people even making up to £800 a month.

“However, on average, if you sell something for as little as £4 on Vinted, up to five times a week, then over the course of four weeks, in January, you could boost your bank balance by £80.”

Go vegan

“A study by Oxford University revealed that those who are vegan save up to a third on their food shop.

“On average, Brits spend £64.50 a week on their weekly shop, meaning you could save £21.50 of this, just by going vegan! In fact, taking part in Veganuary for the whole month of January could give your bank balance a boost by £93.”

What changes will you be making this January to boost your bank balance? Whether it’s Dry January, Veganuary, or cutting back on daily coffee runs, we’d love to hear your thoughts and savings tips! Share your ideas in the comments.