Are you where you wish to be with your personal finances? If not, you can improve your situation, but it takes time and dedication to learn how to handle money properly.
Before you start planning your finances, the very first thing to set some goals. We can give you all the financial tips you might like, but if you don’t have your goals clearly established, it won’t matter.
Whether that goal is to save money for something, to get you debt under control or anything else, you need to know what you want to achieve before you can start to get on top of how to make it happen.
Discuss with Your Partner
It is incredibly important that if you are in a serious relationship with someone that you talk to your partner about your financial situation. This is even more vital if you are, or are planning to, get married or live together as by then your financial situation is going to have an impact on them as well as yourself.
Some people find it difficult to talk to their partner about money. However, there are resources out there to help you with this is if you are struggling to discuss money.
Check Your Credit Score
In the UK you can check your credit score and your credit report at any time if you are signed up to one of the main credit reporting bureaus: Clear Score, Equifax, FICO or Experian. These agencies all use slightly different metrics for determining your credit score, so this is worth keeping in mind if you check your score with multiple agencies as your score will be different from each bureau.
Make Money (and Savings) In Other Ways
If you are short on cash, there are other ways that you can make some extra cash, vouchers or savings to help you out. For example, filling your online surveys can give you either a cash reward that can be saved up and withdraw, or you can be rewarded in vouchers that you can use to save money.
You can also use cashback sites like Quidco and Top Cashback to earn cashback on any online purchases you make with almost any retailer. This money can be saved up once it has been confirmed by the retailer and withdraw as cash.
If you haven’t already made savings a habit, 2020 should be the year you learn to be a saver and not just a spender. Begin by saving more and spending less. Set up a new savings account and make a commitment to put a little away each month towards a savings goal. Some banks will even allow you or round each purchase from your debit card to the nearer £ and automatically transfer those extra few pence from every transaction directly from your current account into your savings account – and you’d be surprised how quickly that can add up.
Getting on top of your finances is going to time and commitment on your part. However, once you have gotten your finances in control, you will notice positive changes in your life.