Resolutions to maximise your finances in the New Year

Wednesday, December 19, 2018

new year's resolutions


It’s that time of year again when we start to think about the resolutions we can make to improve our lives for the year to come. Taking control of your finances is a great way to start the New Year. Here are our top tips to get in better financial shape in 2019.

Plan

The best way to get your finances in order is to understand what you have and how you spend it. Start the year by making a budget and see where you can save. Write down your income and all of your necessary outgoings (rent, mortgage, bills) and work out what’s left over. If you have credit cards to pay off, try to up your monthly repayment to save on interest. Try meal planning to save on shopping and write a list before you go to the supermarket to reduce the risk of overspending on unnecessary items.

Make the most of loyalty schemes and free trials

Sign up to loyalty cards for shops and restaurants you use regularly to earn discounts and freebies. More and more restaurants, shops and service providers are bringing out apps that allow you to save on their products so get downloading! Also, make the most of ‘try before you buy’ incentives. Most online services offer a free trial, so why not use them? Which brings us to our next point…

Cancel any unwanted subscriptions

How many times have you signed up to a free trial and forgotten to cancel it? It’s easily done and could be costing you hundreds of pounds a year. Set a reminder to cancel before the next payment is due to be taken from your account and check your bank statements for unnecessary direct debits.

Look for better deals

Research conducted by Citizen’s Advice shows that around 80% of people are paying a significantly higher price by remaining loyal to their service providers. The research also showed that by not shopping around, consumers in the UK are losing out on around £4 billion a year, which works out to around £877 per household.  Imagine what you could do with that extra cash. Use a price comparison site or if you want to stay with your current supplier, call them and discuss your options.

Check what you’re owed

You’ve no doubt heard all about the PPI scandal but did you know you can also claim back unfair charges on packaged bank accounts? Our team is here to help with these claims and our service is no win, no fee – so if you don’t have a claim, you won’t pay a penny.