Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
There is definitely something Spring like in the air, which means that not only are we all looking forward to some better weather, but we are also thinking about a touch of Spring cleaning in our homes. One thing that you might not think about tackling is your finances.
However, taking the time to Spring clean your finances could make a huge difference to the rest of the year. But where do you start? To help inspire you to grab your broom and dust off that budget book, we have put together our guide on how best to Spring clean your finances and set yourself up for the Summer.
Do you have a wardrobe that is absolutely packed full of clothes that you simply don’t wear anymore? If this is true for you, then you might find that it is time to sort out your wardrobe. Not only will cleaning out your wardrobe give you some extra space, but it could also end up making you some money too.
There are apps and websites that are designed to help you to sell on clothes and accessories that you no longer wear. This includes Gumtree and DePop. You can also head to a local car boot sale and try and see if you can sell your clothes there, this may be a little more effort than selling them online, but car boot sales can be a great way to make some cash. You never know, you could then put that money away to use on buying some new clothes.
Utilities are things that we all have to pay out for, but the annoying thing is just how much it costs you on a monthly or quarterly. What you need to remember about utility bills is that whilst you don’t have much choice but to pay out for them, a little effort is going to mean that you will save yourself some money. Many of us head to the big names when it comes to our utilities and whilst there are deals out there for you to grab, you may find that those big names cost more than some of the others out there, yet provide the same service.
One useful tool is to take a look at one of the many utility checkers out there, these tools are designed to help you to see if there are any other suppliers out there that could cost you less in the long term. Which means that it is definitely worthwhile having a look at them.
Debt is higher than it has ever been and this means that the majority of households in the UK have a credit card of some form. Credit cards are a great tool if you need to buy something that is expensive, but if you don’t use them in the right way then you can find that you end up paying a high level of interest and not ever reducing the amount that you have on the card.
Debt is something that you can consolidate, which means that you bring everything that you owe together in one payment. Many people will transfer their current credit cards onto one that offers 0% interest and others may take out a loan which will then allow them to pay everything off.
We might be a few months into the year, but we have quite a few still ahead of us. Not only this, but there are lots of things that we still need to pay out for. One of these being any Summer holidays or activities that we have planned when the weather is looking a little better. One great thing to do this Spring is to take the time to make yourself a bit of a budget.
Think about your current money situation. Consider things that might be coming up in the future. You should also think about things that you want to pay out for, such as a big holiday for you and your family in the Summer. Forward planning and thinking about what you need to save for and pay out will really help you to improve your financial situation and keep you on the straight and narrow for the rest of the year.
These are just a few of the things that you can do to give your finances a seasonal boost. No matter which approach you take, or whether you do them all, we can promise you that as soon as the sunshine starts to make an appearance and the green starts coming back into the world, your finances are going to look a whole lot healthier.