“Blue Monday” was devised by psychologist Cliff Arnall in 2004. The theory is that a combination of bad weather, limited daylight, and post-Christmas debt makes the third Monday in January the most depressing day in the calendar.
 
In 2026, Blue Monday falls on 19 January.

While Arnall has since confessed that the claim (made for a travel agency) had no foundation in fact, there’s no doubt that January in the UK can be challenging – especially if your finances took a battering over the festive holidays.
 
Whether you buy into Blue Monday or shake your head at such nonsense, it could be a good day to sort out your finances. Here are five suggestions to help get you started.

1. Review your financial outgoings

Monday is often the quietest evening of the week, so why not use Blue Monday to review your budget?

Go through your latest bank statement, noting your income and expenditure, checking that the correct amounts are being debited, and that no unexpected payments are leaving your account.

You may find that a cancelled arrangement is still being collected, or that you have paid a higher amount than expected through a Direct Debit.
 
Also, check to see if there are any regular outgoings you could cancel – do you need access to all the streaming services? 

Then, use what you’ve saved to boost your savings and investments or reduce debt.

2. Tackle your debt

Unless you pay off your credit card and other unsecured debt in full each month, it’s easy for the amount you owe to rise as you suffer from being on the wrong side of compound interest. If you only pay the minimum each month, you’ll end up paying interest on interest.

Note down all your unsecured debts and put a schedule in place to clear them. 

To help reach your goal:

• Be realistic about what you can afford to repay each month.
• Pause non-essential spending and savings to prioritise debt repayments.
• Set up Direct Debits to make repayments as soon after you get paid as possible. 

If you need help or advice about how to manage debt, please get in touch. 

3. Consider switching your bank account

One smart way to both make and save money is to change who you bank with. Many banks offer as much as £200 for you to switch current accounts, and they’ll handle the admin for you.
 
If you and your spouse or partner bank separately, switching could earn you up to £400!

Before you go ahead, make sure you won’t end up paying higher bank charges and that the facilities offered meet your needs. 

4. Start paying yourself first

Paying yourself first is a great habit to get into. 

Instead of waiting until the end of the month and saving any surplus cash you have left in the bank, flip it and transfer a set, affordable amount into savings, investments, or your pension on payday.

Rinse and repeat every month, and you’ll soon start to see positive results from your consistent approach. And the potentially profitable effects of compounding could help maintain your motivation.

5. Speak to a financial planner

Setting financial goals and following through can be tough.

Even with the best intentions, plans can easily slip – especially if you’re busy working, taking care of your family, and trying to squeeze in some you-time.
 
Your Titan Financial Planner will help you create a plan that makes the most of your wealth now and in the future, and keep you on track with regular reviews.

Get in touch

We’re here to help power your financial ambitions all year round.

If you need help or guidance when you’re managing your personal finances, please get in touch.

Email [email protected] or call us on 0800 048 0150.

Please note
The information contained in this article is based on the opinion of Titan Wealth Planning and does not constitute financial advice or a recommendation for any investment or retirement strategy.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. 

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

ID:1725