Although there are some arguments about whether the new decade actually begins in 14 days time, or whether we should really be looking towards 2021 as the start of the 20s, it certainly feels like a new dawn. And whilst I am not always that sure about making new years resolutions, I also feel that sometimes we need to grab the initiative to make things better. The start of 2020 is the perfect time to get our finances in order, to look at our outgoings, our incomings, and our debt, and work out how we can save a little in the new year for a rainy day.
The good news is that there is all sorts of financial advice, hints and tips out there that can give you a good starting point when it comes to money. Finance Solutions have a whole raft of useful articles to help you save money on even the tightest of budgets, articles that focus on saving at different ages, how to make and save money whilst on maternity leave, and how you can save money even during the holidays by taking part in free activities.
Finance Solutions is a leading financial services company providing free information about debt relief programs designed to help consumers achieve payment relief and pay their debts faster. They may be a company that can help you with your needs, but in order to decide on the level of support you need to be debt free in 2020, you need to look at your overall money picture.
What do you have coming in?
First you need to look at your total,overall budget. This means accounting for every last penny you have coming into your home each week/month, whether this is wages or benefits or a combination of both. Get everything on paper so you can see it clearly.
What do you have coming out?
Again, this is all about putting everything down on paper, and I do mean everything. Where does your money go each month? How much do you spend on mortgage or rent, the bills and your food and living? Get it all down on paper, even your morning cups of coffee on the way to work, or a weekly take away treat. Only if you know what you are spending your money on can you actually be able to see where you can make changes, where cash is being wasted, and where you can make some savings.
What could you change?
Look at the cost of your utility bills and tariffs you are currently on. Could you be getting these services cheaper elsewhere? Using an online comparison site could help you find the answer. Maybe you could be better on a fixed tariff? Write down your current bill spending and your new quote side by side to see the saving.
Look at your current luxuries. Could you swap your current morning latte and take your own coffee instead. Do you really need to buy expensive packaged sandwiches for your lunch break every single day, or could you take your own at least half the week? Would meals be more economical if you cooked in batch and froze some?
Look at all areas but strike a balance, have your favourite latte once or twice a week, but swap the others to make some savings. This is all about improving your finances, but you shouldn’t feel that you work for nothing, or can never have a treat of something you fancy.
Are you making financial changes for 2020?