The New Year brings a chance for reflection, renewal and a determined approach to the 12 months ahead. Now that most of those resolutions have lapsed, it’s time to start seriously organising your affairs for better financial health in 2015. With many people still finding their feet after Christmas and New Year, the time for making cutbacks is most definitely now. But that doesn’t mean you have to relinquish your standard of living, and with a few simple changes you can be well on your way to saving so you can have more money to invest in a more prosperous future.
Try A Few More Layers (Yes, Really).
It’s amazing what a warm, woolly jumper can do for helping deflect those early-year chills. Sure, it’s cold outside, but by opting for a few extra layers, you can control just how much heating you use. Switching the heating on even an hour later ever day can mount up into a serious saving over time, leaving you with more money to play with when the warmer months come round. If you’re serious about preparing to invest in 2015, this can be a good way to shave a few pounds off the edges.
Tackle That Stubborn Credit Card
Credit cards are in all probability your most expensive form of finance. Don’t fall for the trap of just paying the minimum amount every month – attack the balance if you want to reduce the overall principal, and the resultant interest you will have to pay. Alternatively, look for a 0% balance transfer offer and you can move your principal elsewhere, helping you save on the excess interest charges for any balance while you get your affairs in order for the year ahead.
Do Compare Prices
Price comparison websites can be extremely helpful in spotting inefficiencies in your current spending, and identifying opportunities for savings across your key utility bills. If you are looking to save to invest, the best types of savings are structural – those that mean you’re paying less month on month. If you haven’t done so in a while, get online and start comparing. You might just find it’s cheaper to survive than you think.
Other Ideas For Saving
– Find online coupon codes and vouchers
– Do food shopping in one store (think loyalty points)
– Search cashback deals for big purchases
– Cancel unnecessary commitments, e.g. that unused gym membership.
– Walk more (saves fuel costs, and improves your health)
– Buy for next Christmas early for extra discounts
– Cut down on alcohol
Freeing up unnecessary spending for investment is a great way to set your finances on the right course in the New Year, and start you on your journey to more controlled financial management. You don’t have to radically change your lifestyle to make small savings here and there, which when invested can quickly add up to something more substantial, and provide you with recurring benefits from there onwards. For more tips on saving money, and structuring your finances in a more effective way, visit us at ukhomeandpersonalloans.co.uk.