Financial Spring Clean
Financial spring clean
Its that’s time again when we all start to make our New Year’s Resolutions. A ‘biggie’ on most our lists is to tidy up our finances so that we can have a better year than the last one. Well let’s look at what we can do to save a few pennies here and there.
Tidy up that Credit score – Yes you can do it, start by checking out what your score is through one of the many companies out there such as Experian, Equifax or Checkmyfile, some charge fees, some don’t depending on what level of check you require. See what is effecting your score, it can be simple things such as not being on the Electoral Register that can lower your score and unbelievably its one of the top things that people forget to do and simply don’t realise effects their credit score. Making sure that you are up to date with any payments will help increase your score as well as having as permanent address and having a bank account. So, check out your score, make little changes to the things that you can alter and watch your credit score increase and this will go a long way to cleaning up your potential borrowing.
Watching where your money goes is another thing to keep an eye on with many of us popping into the local pound store to just get one thing but coming out we didn’t actually need but couldn’t resist seeing as ‘it’s only a pound’. Yeah I am certainly guilty of that one!
Sometimes it’s hard to keep the spending down though and no matter what we try we seem to constantly have an ultra slim line wallet, well in cases like this there are people we can turn to companies like the National Debt Line, The Money Advice Service, Stepchange or Citizen Advice who can provide good advice on how to manage your debts and control your expenses. Sometimes we have to admit that we need to take a step back and let others help us, whether we like it or not it’s a necessary intrusion that can only help. One thing that I have found which helps me is to have a series of money jars set up in which I’ve written the name of where that money need to be allocated to, each week I separate my money into these jars and then when it’s time to pay a bill I know that I have it and this way I don’t have to panic that I need to find the whole sum on one go – because I have put a little aside each week towards it, good huh?
I have found that in some cases you don’t ‘get’ unless you ‘ask’ for it, there is often help available to us but we simply don’t know about it, some people are quite cleaver and ‘savvy’ when it comes to entitlements and I must admit that I’m getting better at it. This year I aim to make a start from day one and have my finances sorted so that I can relax and watch my pennies grow into pounds and then spread the costs of the things that I can so avoid any scary lump sum payments later one. Holidays will be saved for – slowly, yes but nevertheless I won’t be panicking as the weather gets warmer.
But most of all, don’t bury your head in the sand and leave it, main to make the New Year a year of finally getting round to putting things right and this time next year you might have a little extra cash to really celebrate!