Spring has sprung, so tidy up your finances with these top tips.
The weather is looking up and the days are getting longer, so right now is the perfect time to give your finances a spring clean with our helpful hints and tips.
1. Update your budget
You’d be forgiven for forgetting to update your budget every time you find out yet another bill has gone up by a few pounds. But soon, all of your bills have increased, and those small changes add up to a fairly big one. Avoid that by reworking your budget now, and make sure you keep a close eye on it over the next couple of months in particular so that you’re accounting for everything.
2. Spring clean your home
While you’re spring cleaning your finances, you may as well do your home, too. Not least because it could help you make some extra money. Give your home a thorough clear out and you may be surprised what you find. From old CDs to unwanted Christmas gift sets, you can sell anything. Why not try a local car boot sale to get rid of everything you don’t want or need? Your trash could be someone else’s treasure.
3. Set (realistic) goals
Spring cleaning your finances doesn’t just mean sorting through what’s there right now. It also means planning for the future. Decide what you want from the next year to 18 months, then put those dreams in order of priority. Whether it’s a holiday, a new car or just clearing off old debts, knowing what you want to do first will help keep you on track.
4. Insure everything
Now is a great time to review your insurance policies and make sure you’re completely covered. It’s not enough to simply have policies in place, you need to make sure that they’re comprehensive enough to protect you should the worst happen.
5. Assess your suppliers
We all know we should regularly check that the deals we're getting with our suppliers, such as gas and electric, are the best available. But before you know it, you're two years in and have no idea what competitors are offering. Take this time of year to rectify that, getting quotes and making sure you're not paying over the odds.
6. Don’t worry, be appy
There are plenty of apps available to help you get on top of your finances. Whether you’re looking for one that will help you set up a budget, to one that monitors your stocks and shares, there are hundreds to choose from. Not sure which is the best for you? Check out our top picks here.
7. Re-assess your pension
While you’ve got money on your mind, take this opportunity to have a look at your pension. Are you paying in as much as you’d like or can afford? It’s easy to leave it running in the background, but it’s always worth keeping an eye on the make sure you’re getting the maximum value from it.
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