If you want to improve your finances, then it’s really easy to keep putting things off until another day. It’s a task that so many of us find pretty boring, and we’re often more inclined to bury our heads in the sand and just hope for the best.
But making positive changes doesn’t have to involve a load of complicated work. There are many things that you can do this weekend to improve your finances, even if you’re short of time and you’re busy taking care of your family. Here are seven action points to consider…
Cancel any subscriptions you’re not using
Paying for a Netflix subscription that you’re not using? Still paying insurance on an electrical item that you’ve since replaced? If you go through your bank statements with a fine toothed comb, it’s likely that you’ll realise that there are several things that you’re paying for that are totally unnecessary. Make sure you cancel them.
Sell your unwanted items on eBay
One person’s trash is another person’s treasure, and it’s almost guaranteed that you have things sitting around your home that you no longer use, that other people would be more than happy to pay for. You can sell clothes, baby items, homeware… Pretty much anything you can think of! An added benefit is that you’ll also be able to have a good declutter. Check out these tried and tested tips for selling on eBay.
Create a budget for the month ahead
Budgeting is an excellent habit to get into, and it helps to ensure that you’re really accountable when it comes to your money, and that you’re spending intentionally. Have you ever reached the end of a month and wondered where in earth your cash went? If so, budgeting is something that you should definitely consider.
Open a savings account
If you don’t have any savings, then you’re not alone. Statistics show that almost 10 million households in the UK have no savings whatsoever. Having a little cash put to one side though can give you a huge amount of peace of mind, and ensure that any emergency costs don’t create a big crisis. Open a savings account, and make a promise to yourself that you’ll add to it every month, even if you only have a few pounds spare. It’s a great habit to get into.
Check that you’re getting the best deals on your utility bills
As a nation, we’re a loyal bunch. You might think that’s a good trait to have, but it’s not when it comes to paying less for your utility bills. Switching is often simple and straightforward, and could save you a significant amount of money each month. The best place to get guidance on this is the Money Saving Expert website, which is a treasure trove if you want to improve your finances.
Prepare to ask your boss for a pay increase
Do you dream that one day you’ll go into work, and your boss will tell you that you’re getting a generous pay rise? It would be nice, for sure. But you don’t have to just sit back and wait for it to happen. If you go through the right steps, you could be taking a home a chunkier pay packet quicker than you might think. Reed have published a great guide to negotiating a rise with your employer.
Check that you’re getting the best deal on your mortgage
This is another one where being loyal doesn’t pay. If you’ve reached the end of the fixed term period on your mortgage, then switching could save you several thousands of pounds each year. Check out this article that helps you to decide if remortgaging is right for you. Remember too that even if you’re on the best deal, it’s worth looking into whether you can make a small overpayment each month. It’s amazing the impact that it can have on the total amount that you’ll repay. Play with the numbers to work out what you could save.
If you’re serious about wanting to improve your finances, these things could all make a big difference to your future. Which of them will you be trying first? Come back and let me know how you get on!