Dry January: Money-Saving Expert Reveals How Much money You Save By Not Drinking For a Month

Money-Saving Expert Reveals How Much money You Save By Not Drinking For a Month

VoM News Desk | January 3, 2025 | 07:00 PM IST | Featured by VoM, Featured Edition | Follow on Google News

Dry January: Money-Saving Expert Reveals How Much Money You Save By Not Drinking For a Month

Cutting out alcohol in January isn’t just good for your health …

Key Findings:
● An expert reveals how much money doing Dry January can save you, and
what you can do with that money
● Financial advisor Fred Harrington shows how a little New Year abstinence
can go a long way
● Dry humor is great at Christmas, but Dry January can save you serious
coin that you can use to spend well.

After the costly excesses of Christmas and New Year celebrations, some feel that a little austerity is required in January. This month seems like a good time to hold back and make do with a bit less of everything – including alcohol. Hence why people take part in the ‘Dry January’ challenge – a month without liquor (or any forms of alcohol) that’s intended to cleanse the body.

But while participants of Dry January are focusing on their New Year’s health, they tend to overlook just how much money the commitment can save them.

“The savings associated with cutting out alcohol for Dry January can be substantial,”
says expert money-saver Fred Harrington, CEO of Coupon Mister. “After the expenses
of the festive holidays, January can be a good time to tighten the belt, and giving up
alcohol for a month is a great way to do it.”

Below, the expert reveals how much money can be saved by Dry January.

Go Dry, Stay Fluid

Fred looks at how good going dry can be for your financial fluidity in the New Year.

“Dry January demonstrates how much abstinence can positively impact financial
well-being,” Fred continues. “When you look at how much you can spend on alcohol
during a month in detail, you realize how much you can save by cutting it out.”

How much the average person in the West spends on alcohol per month obviously
varies a lot. What someone drinks, how often they drink it, and whether they drink it at
home or at bars or in restaurants must be taken into consideration.

Location comes into the equation too, with, say, uptown New York being much more
expensive than somewhere out in the sticks, however good that place is. But averages
can of course be determined.

How Much You Can Save During Dry January

If, on average, you consume 10 bottles of beer per week, each costing $7, you could
save about $310 in a month. That may cover your monthly gas costs! If you drink six
single shots of a mid-price gin and tonic a week, you’ll spend around $250 per month. If you typically consume three $13 drinks a day, five days a week, you could save over
$800 per month!

Various alcohol tracking apps data and studies in the USA suggest that by observing
Dry January, you can save around $15 per day, which is $465 over the entire month. If
two people in one household do this, that’s almost $1000 per month.

$1000 can buy you a week’s holiday somewhere sunny, and there’s no better time to do that than at the end of January, when the weather may feel like it’s at its worst.

Fred Harrington, CEO of Coupon Mister, commented:
“Even if you’re an occasional drinker, you’ll see a noticeable difference in your spending by giving up alcohol for a month. What better time to do it than January, when you may still be feeling the pinch financially after Christmas.”

“If you feel you need support from technology, there are great apps like ‘I Am Sober’
and ‘Try Dry’. Apps like these enable you to estimate probable money savings based on.the volume of alcohol you aren’t drinking. This can really help. You can use these apps as encouragement throughout the month – like virtual partners who can show you the rewards that will motivate you.

“You can put the money you save by doing Dry January to great use by, say, spending it on a health club membership, a new bike for exercise, savings, or a holiday. Better still, you could give the money you’ve saved to charity.

“Dry January is good all round – great for health and good for your wallet. You never
know – by the time you get to February you may want to stay dry, or certainly drink a bit less. That means the benefits will continue throughout the year.”

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