We tend to overspend during the Christmas and summer holidays and our bank balance take the most damage. But don’t wallow in a negative state, because there are ways on how to have a healthy financial standing this year by adopting a few nifty money making and money saving habits.

1. Answer market research surveys. Did you know that you can get paid when you attend focus groups or fill out questionnaires? Market research companies offer up to $200 if you travel to join one of their panels.
2. Switch banks. There are banks that are willing to offer a bonus interest rate is you need to open a new savings or deposit account.
3. Use coupons and vouchers. Those little discount coupons get thrown away a lot when in fact they are free money if you think about it. So, keep your shop docket and wait until you come across handy discounts.
4. Switch electric providers. The competition among energy companies is stiff. Don’t wait any longer when you can switch to a cheaper electricity price with another company.
5. Sell pre-loved items. Today is the perfect time to declutter cupboards, drawers, and closets for pre-loved items that you can sell on eBay or Gumtree.
6. Buy in bulk. When there’s a sale for your non-perishable staples at the supermarket, buy as much as you can and keep in storage. The savings will pile up in the future.
7. Open a second savings account. If you find yourself always giving into the temptation of withdrawing your savings even if you shouldn’t, here’s a trick that might just work for you. Open a second savings account and schedule a regular direct deposit from your old account every week. Let’s say you want to save $100 per month. If you will transfer $25 a week to your second account without fail, you will have saved $1300 in 12 months.

What money saving habits work for you? Let us know below in the comments.