Posted on: 10th January 2020
2020 is finally here! It’s a time for new starts, smart changes and making promises to ourselves. One common resolution people make each year is to be smart with their money. However, many find themselves back to square one after only a month. So, let’s make 2020 the year you stick to your financial resolutions with a little bit of help from!
Get into the savings habit
No matter what stage you are at in life, money weighs heavily on our minds. However, January is the perfect time to put together a plan of action for the year ahead. It’s a time for you to sit down, look at your current financial state and make note of the changes you could be making to save money. Perhaps you’re paying for a gym membership you hardly use, or you spend more than you need to on the weekly shop. The smallest changes can make a huge difference to your monthly spending.
Get a better rate on your savings
When it comes to looking for a place to put your money, it’s always worth shopping around for the best rates available. There are so manyoptions available, so if you find yourself feeling overwhelmed by choice, seeking independent financial advice will help. It’s not just about the highest interest rate on offer, but how that interest rate benefits your circumstance.
For some, January can be a good time to look into remortgaging your home, especially under these circumstances:
- Your introductory deal is coming to an end
- The value of your home has increased
- You have seen a better deal elsewhere
However, remortgaging isn’t something you should take lightly. There are numerous occasions where remortgaging could be the wrong choice for your home, especially if yourdebt is quite small. Again, speaking to an adviser will help you make the right decision.
Make a date and set goals
It helps to make yourself aware of the big financial dates coming up this year as it will help prepare you for anything that might affect your current financial circumstances. Make a note of all key dates, including when any minimum period contracts are up, or when any 0 per cent interest deals expire. Go through everything you currently pay for and see if anything is due to change this year.
Plan for your
Finally, planning ahead and preparing for retirement is one thing you should be doing all year-round. The sooner you start, the greater the chance you have of retiring with a comfortable income. You can read our guide on 2020 , or get in touch to speak with one of our advisers. here