How Much Money Could Taking Part In Dry January Or Veganuary Save You?

January 15, 2024 • Chris Bardsley

How Much Money Could Taking Part In Dry January Or Veganuary Save You?

The start of a new year is a great opportunity to make some changes.

Two popular health challenges to try in January include Dry January which involves quitting alcohol. Plus Veganuary which is where you opt for plant-based meals over eating meat.

While committing to any new health measures can seem tough at the start, both Dry January and Veganuary can offer far-reaching benefits including for your finances.

At Fair For You, we’re always keen to share tips that will help you to save money. So here is how taking part in Dry January and Veganuary this year could do just that.

Dry January Savings

The term ‘Dry January’ isn’t always met with the greatest enthusiasm. But this could soon change when you see how much money can be saved by cutting back on alcohol, let alone giving it up for good.

Creditfix has a Dry January calculator which allows you to enter how many drinks you have per week to receive a personalised savings calculation.

For someone who enjoys two small glasses of white wine, one gin and tonic and two pints of lager per week, they would save £110.32 in Dry January alone. If this person kept up being teetotal all year round, that would equal a potential saving of £1,323.84.

Now let’s look at someone who is a heavier drinker. If someone drinks three large glasses of red wine, four pints of lager, two rum and cokes and two gin and tonics per week, they would save £283.64 if they took part in Dry January. Over the course of the year, that would deliver a saving of £2,863.68.

Furthermore, Alcohol Change UK completed a survey of those who took part in Dry January last year. It found that 86% saved money and 70% enjoyed improved sleep.

Veganuary Savings

Going vegan even one day per week can have huge benefits for the climate, making Veganuary popular for lots of reasons. But back to saving money, and one huge advantage is that you can save up to 40% on food costs for plant-based meals, according to the official Veganuary website.

It adds that opting for a plant-based meal over meat can deliver a 71p saving per person per meal. Across lunch and dinner, that’s a saving of £1.42. If we multiply this for four people in the home that’s a potential saving of £176.08 for Veganuary. Keep eating plant-based for the rest of the year, and these savings could increase to £2,111.92.

Don’t know where to start with Veganuary recipes? The aptly named Plant Based On A Budget has hundreds of low-cost vegan recipes to explore. Remember, using an air fryer or slow cooker to cook your food could reduce those savings further still!

You’re also less likely to rely on takeaways if you take part in Veganuary since vegan takeaway options are often few and far between. Statista found the average person in the UK spends £641 a year on takeaways, which works out to £53 for the month of Veganuary alone.

Fair For You - Discover Our Loans That Work For You

It’s fair to say that when it comes to Dry January or Veganuary, these can help you not just shed the pounds but also save some too! We want to wish the best of luck to all those giving either or both challenges a go this year.

Another thing that can help you save money is opting for flexible repayments on the things you need for your home or family. Fair For You offers loans on household goods, and you can choose the repayment terms that suit you.

Follow Fair For You on Facebook or Instagram to keep up to date with our latest news, tips and advice to help your money go further.

This entry was posted in Health and Wellness, Budgeting Tips and Blog
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