If you want to change your financial future for the better, now is the time to take
action. The sooner you get started, the stronger your finances will be.
You will be surprised by just what a positive difference you can make, in a
relatively short period. All of the financial goals below can easily be achieved in
6 months or less.
Clear some of your debts
Firms like Creditfix.co.uk can help you to become debt-free. Their service is
designed for people who have large debts that are threatening to overwhelm
them. They can help you to set up IVAs and Trust Deeds.
If you have small debts, clear one or two of them. Reducing the number of
people you owe money to will make it easier for you to juggle the rest. You can
find out more about clearing your debt in this way, by checking out the debt
You will need to do a bit more research to work out which approach is right for
you. If you are going to use a debt consolidation service you need to find out
how much they charge and understand how their suggested approach could
affect your long-term financial life.
Simplify your financial affairs
To be able to stay out of debt and save for your future, you need to keep track of
your spending. The best way to do this is to automate things as much as
Apps like Money Dashboard enable you to set spending limits as well as track
all of your credit cards and bank accounts. Importantly, it has a planner built-in,
which enables you to see what your future balance will be. Knowing this can
help you to decide whether you can say yes to that weekend away.
Curb your bad spending habits
We all have bad spending habits. Some of us can’t resist ordering room service
when we are staying in a hotel. Others just have to own at least a hundred pairs
of shoes. We all have things that we find hard to resist buying. It is human
Using an app to keep track of what you spend will really help you to realize
where your money is going. But, you do need to sit down and take a critical
look at the results. For example, if you are spending £10 a day on coffees and
snacks you might want to cut that back a bit. Some of that £3,650 per year could
potentially be saved up for a rainy day. So, the next time your washing machine
breaks down you can get it repaired immediately. That is a far better option than
taking out a payday loan to cover the cost of going to the launderette for 6
Start to save regularly
Last on the list is saving regularly. Even if you are fighting debt, try to cut back
on something you don’t really need and put the cash you would have spent on it
to one side. This article will help you to get started with micro saving.
Paying off your debts does need to be a priority. But, once you are debt-free, try
not to simply spend the cash that you were using to make your repayments.
Instead, put as much as possible aside as savings.
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