Now March is here, many of us will use the longer and brighter days as an opportunity to do a spring clean around the home. As well as tackling every room in your house, you must also ensure that you’re not neglecting one very important area in your life: your finances.
Spring is the perfect time to polish up your financial future. Now you’ve fully recovered from the financial excesses of Christmas, you can begin to create a solid plan as to what you want to do with your money for the rest of the year – and beyond. Here are some ways you can begin to organise your finances:
Say goodbye to your debt
You wouldn’t hold on to socks with holes in them, so why would you want to hold on to your debt for longer than necessary? Don’t let your debt hold you back – instead, take the first step and set up a payment plan that will allow you to say goodbye to it once and for all.
Hoover up bad spending habits
Have you been neglecting your budget recently? If so, it’s time to get back on track. On New Year’s Eve, when you stated that you were going to manage your money better, you meant it! A well-thought-out budget is one of the most effective tools you can have in order to reach a major financial milestone.
If you know that you’ve got to budget for a larger item this year, such as a new car or other big ticket item, ensure that you consider all your financial options beforehand. That way, you won’t let your spending get out of hand.
Ditch the unneeded subscriptions
If you’ve got subscriptions such as the likes of Netflix and Spotify that you’re not actually using, it could be time to consider cancelling them. It’s even worth taking a moment to go through your outgoings on your bank statement, as you never know what you might be paying out for without realising it. For instance, when you’re signing up for a free trial, a lot of services ask you to input your credit card details, then continue to charge your card once you’ve forgotten about them. Check now to see that this isn’t the case for you!
Write a to-do list for your future
Do you dream of owning your own home one day? A bigger car? A holiday home abroad? If so, these things aren’t going to pay for themselves, which is why you need a strict savings plan. Get your to-do list out and work out how much you can realistically afford to put away each month in order to achieve your dreams.