There’s no better feeling than spring cleaning, it’s the perfect time to have that fresh new feeling and know everything is in order. We know spring cleaning is usually focused on general cleaning tasks that aren’t done regularly. But why not spring-clean your finances too?
We’ve put together a checklist for you to take inspiration from.
Review Your Budget
Budgeting is the key to ensuring you not only live within your means, but you also feel in control of your money. It’s a good idea to place this at the top of your spring-cleaning list.
We always recommend doing a full audit of your spending, from there you can see what you are spending money on and identify triggers that encourage you to spend outside of your budget. You’ll also have a better idea of what you have left over after all your essentials like your mortgage/rent, food bills, etc. What you have left is known as your disposable income, it can be used for non-essential purchases. If you are yet to have a budget in place, we’d suggest checking out our budgeting guide and advice on how to make a spending plan to help you get started.
You should review your budget after any changes in income or expenses to make sure you’re still staying within your money limits. Mark a date in your diary each month for a budget health check – it’ll allow you to act quickly if you need to, so your finances stay in check.
Get to Know Your Money
A scary thought? They do say ignorance is bliss, but when it comes to your money, knowledge is power. We want everyone to feel empowered to make financial decisions with full confidence. If you’re in debt, facing all the paperwork and working out the total balance of money owed is one of the biggest steps you can take. After you find out your starting point, we can help support you in understanding your options and making a plan when it comes to your debts.
Adopt a New Money Mindset
The hardest part of starting fresh with your money is creating new habits. Getting into debt can sometimes be down to overspending, but if you’ve always spent money on something and you don’t know any other way or are brand loyal, it can be hard to break that habit. Changing how you think about money and implementing some rules and non-negotiables will help you feel more positive and in control of your finances.
Write down how you currently feel about your finances and how you would like to feel. You can then note specific goals you think would help you get to that positive feeling. It could be becoming debt-free, having three months of expenses saved in case of an emergency, or being able to allocate a socialising budget per month so you can have fun guilt-free.
Get Debt Advice
Our online debt advice tool allows you to input information regarding your current debts, income, expenditures, marital status, and renting situation, amongst other details, to gauge your current circumstances. It removes the need to speak with an advisor, so you can get your recommendation instantly on screen. You can also get your advice anytime, it’s available day and night.
If you prefer to speak directly with someone over the phone, you can call us or book an appointment at a time that suits you. You can also email us directly with some information regarding your debts, for example, how much you owe and who to, and we can get back to you to discuss your options. You can also chat with one of our advisors on WhatsApp. If you don’t have access to a private and secure email account, it’s a good option. This line is in place to make contacting us a bit easier if you don’t want to use any of the other options.
