Four things you can do to feel more positive about your finances

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According to our Retirement Voice report, less than half of people in the UK (48%) feel positive about their finances. If you’re not in the best of spirits when it comes to your own financial situation, what can you do to feel a bit brighter – especially at this time of year?

It’s not unusual to feel a little flat in January (particularly if the days are still short where you live!). But here are some money tips that could help you turn the month around and put you in a better mood as we kick off 2025. 

1. Know what you’ve got

We know December can involve higher-than-usual spending – so checking your bank balance in January isn’t necessarily going to fill you with joy. But at this time of year, it can be really useful to take stock of how much you’ve got in your current account, as well as any savings and investments you might have. Do you have money in a pension plan or Individual Savings Account (ISA), for example? 

Knowing exactly what you’re working with can make it easier to budget and could mean you’re less likely to overspend – which could help you feel more confident going forward.

Your bank, building society and other providers might have an app or online platform so you can see how your money’s doing, even while you’re on the go. 

Got a pension plan with Standard Life? You can check on it by using your Standard Life app, or by logging in or registering for online services.

2. Think about ways to make extra cash or cut costs

If you’re thinking about doing a January clear-out, there are plenty of websites and apps that can help you sell your stuff. Alternatively, you could check if there are any car boot sales in your area. As well as helping you make space in your home, this could bring in some additional cash for you – result! 

You could also look for ways to spend less money. Here’s a little life hack: if you know you’re going to be buying something, why not look online or check your emails for discount codes and vouchers? 

You could also sign up to a cashback website. Basically, these can give you a bit of money back when you use them to buy something from particular retailers. Some banks and credit card providers also have cashback offers for shops, restaurants, etc. Just don’t forget that cashback isn’t always guaranteed. 

3. Think about what you want – and how to get there

Taking some time to think about what your financial goals are could also help you feel more positive. Maybe you’d like to start an emergency fund this year to have a bit of a safety net. Or maybe you’d like to put more money towards your long-term future. Once you know what you’re aiming for, it can be easier to make a plan and think about how your money could work harder for you. Could you open a savings account, for example? 

If you want to get some tips on planning for your financial goals, you can read our recent article.

4. See what help you can get

Do you know whether you’re getting all the help you’re entitled to? Depending on your circumstances, you might be eligible for government benefits. This could give you a bit of relief if you’re feeling financial strain. You can find out what support you might be able to get on the government’s website. You can also try out a benefits calculator. 

And if it’s debt that’s weighing heavily on your mind, help is available. If you feel you need support, you can get free impartial advice from StepChange Debt Charity, Citizens Advice or Citizens Advice Scotland online or over the phone. You may also be able to get help from Citizens Advice and Citizens Advice Scotland in person. MoneyHelper can also point you in the direction of other organisations you can go to for debt advice.

 

The information here is based on our understanding in January 2025 and shouldn’t be taken as financial advice.

A pension is an investment. Its value can go down as well as up and could be worth less than was paid in.

Standard Life accepts no responsibility for information in external websites. These are provided for general information.