With January on the horizon and new years resolutions being written it can be a time to make changes to your life. One thing on many peoples new years resolutions list will be to do with money! The thing we never want to talk about but the thing we always have to deal with. If you want to improve life for yourself financially whether that be on a big or small scale I have got 5 tips to help or to prepare you for those unforeseen circumstances.
Budgeting is mundane and boring but so worth it and it can save you so much money a month. The easiest way to do it is to have a dedicated notebook or online spreadsheet with all your outgoings for every month. Once all of that is taken care of you can decide what to do with the money you have left. It could be put into your savings, used for the summer holidays with the kids or to buy some much needed new clothes. Remember when you are budgeting to include everything in your monthly plan, from the mortgage to a birthday present. It is so much easier when you have everything laid out in front of you in a monthly budget.
Check your direct debits
We sign up to all sorts of things through the year and often forget about them or stop using that service. Always remember to regularly check your direct debit list to make sure nothing is going out that you have forgotten about. It might only be a fiver here and a fiver there but it mounts up and whats the point of spending it if you don’t have to?!
Do your research
If something unexpected happens in the new year such as the car needing major repairs or the washing machine breaking and you simply don’t have the money to pay for it then make sure you do your research when looking for short term loans. If you need a cash loan make sure that the company you are borrowing from is reputable. A company like CashLady who care about their customers and explain everything properly before you sign on the dotted line will make everything a lot easier for you. Getting a small cash loan like this can ease the pressure when you are waiting for pay day and something happens which is out of your control.
So much of our money goes on food so why not budget there too? Make a meal plan every week, make a shopping list for that meal plan and only buy what is on your list when you go to the supermarket. Online food shopping can make this easier too because you are less likely to just see things you like and pop them in the trolley. Meal planning can save you hundreds of pounds a year if you do it regularly.
When renewing your car, house, contents insurance this year make sure you shop around. Don’t just click on the renewal button without having a quick look on money supermarket sites first to see if you can get a better deal and save money. Sometimes we don’t realise how much extra we are spending when we really don’t need to.
Do you have any useful financial tips for the new year?
This is a collaborative post.