New Year, New Financial security
Fed up with being in the red? Wish you were more organized when the end of tax year comes around? We thought you might need a little tidying up in the finance stakes, Busy Girl. Well, don’t fear. We Experts at The Busy Girls Guide have compiled this quick guide to spring cleaning your finances…
Bin it
Although it’s good to keep your up to date records, holding onto ancient credit card & bank statements is pointless. Get yourself a shredder and get binning! Throw away bank statements and invoices which you’ve had for more than 24months. Keep personal and business tax statements for up to 7 years and ensure your personal documents, like car, marriage, passport and insurance documents are kept somewhere safe.
Consolidate your Accounts
Did you know most Busy Girls have up to 4 personal bank accounts! That’s a whole of confusion that you really don’t need. Start consolidating your accounts now. Figure out which one is the best in terms of easy of access, interest rate and overdraft facility and get all of your funds moved over to that account.
Streamline your savings
Consider moving all your savings funds into one account. If you haven’t had an ISA this year, you have until April to deposit up to £4000.00 into an account, tax free. You may even be able to qualify for discounts on loan rates or avoid fees if you have more savings in a single account.
Swap your bank
Don’t feel you have to stick with your old bank – ensure you’re getting the best deal or ship out!
Cut up the plastic
Did you know the average person has six credit cards in their wallet! Too many credit cards increase the chances of you forgetting to make payments, or overspending in the confusion of which account’s which. To clear up and keep clean, rotate one single credit card, using up the annual 0% offers that lenders give. Find the best in the market for balance transfers and move everything over. Then, a month before the interest free term is over, get a new credit card arranged, with 0% interest on transfers and move the remaining sum.
Direct debit it
Get yourself set up with direct debits, for all your usual monthly payments, your credit card payments and phone, etc. Once the direct debits are set up, you can relax safe in the knowledge that you don’t have to remember payment dates. Just don’t forget to cancel them when you change supplier or move banks!
Make some plans
What stage in life are you at, Busy Girl? Would it be helpful to start saving for a rainy day? Financial independence is a wonderful gift and a state of safety which can really help you to concentrate on getting the most out of life. By saving and planning now, you can save yourself pain and problems in the future knowing you have a little on the side for whatever crosses your path.
Hope this helps Busy Girl - good luck!
The Busy Girls Guide Team x
Send us your thoughts...
|
|
