As we move into the New Year, it’s a good time to take a long hard at your finances, especially if you’re struggling. Creating a plan to deal with your finances takes time and effort, but it can help you regain control for the long term.
So to help get your finances in order, take a look at our five top tips.
Whether it’s finding a new job, increasing your income, or paying off debts, set yourself goals. Goals help us to define the future, and enable us to create the steps to achieve them. So write down those goals, and then create a plan to get there.
Less than a third of us set a weekly budget, but if you stick to a budget then you’re able to see how much money you have to spend. Write down all of your income, expenditure and debts, and then work out what you can afford.
If money is tight, then always pay your most important bills first. These include; rent, council tax and utility bills, where the consequences of not paying can be serious.
If you’re struggling with debt, then make sure you let your creditors know. They are often sympathetic and happy to work out affordable payment arrangements. The same applies to debt recovery firms. Always be honest about your situation and try and come to an affordable agreement.
If you feel overwhelmed by debt, always seek help from a free debt advice organisation.