Starting off the new year right financially can really put you in the best position for the entire year. If you’ve ever experienced money struggles throughout particular times of the year you know how stressful it can be, taking control of your money now will help you later, you’ll find yourself reaching the end of the year in a much more comfortable position than you’ve found yourself in before.
No matter what stage of your life that you’re at it is never too early or too late to take a look at how you’re using and spending your money. Whether you’re at university, just buying your first home or even looking into investing in a pension scheme here are a few ways that you can make your money work for you in 2019.
There are so many things we pay out for every month and year that it’s hard to keep track sometimes of what we’re actually paying for these necessities, you may think you’re getting a good deal but at the end of the day it all adds up and there are always savings to be made. House insurance, car insurance, electricity, gas, life insurance, device insurance, phone bills, TV and internet packages, the list is truly endless in this day and age. Take advantage of the many comparison sites out there and compare car insurance for example, see what you can save today for tomorrow.
Taking Control of Debt
If you find yourself drowning in credit card bills, loan repayments and finance repayments it’s a good idea to take account of how much you owe and to who. Compare the interest that you’re paying on each repayment every month, you really want to minimise the amount of extra money that you’re paying. Work out which debts are best to focus on and put more money into paying off to get them out of your life to reduce the burden of credit in your life. Trying to figure out the best debt repayment plan can be tricky if you’ve got a lot of repayments with varying interests, it might be worth locating some free debt advice to help you take the first step in being debt free.
Your Money Entitlements
Make sure that you are getting everything that you are entitled to, the government has schemes set up to help people out in certain financial situations for a reason, they believe some people deserve extra help. Something as simple as checking your pay slip to ensure you’re paying the right tax and being paid the right amount can make a difference, check to see if you’re entitled to tax credits too. If you’re adopting or having a baby there are benefits available to you, similarly, if you already have a child you can claim benefits to help you cover childcare costs so you can get back into work to earn your own money. There are so many other benefits and financial help for people in a range of different situations, check to see if you are eligible for anything.