Wish your wallet a happy new yearPosted on: 09 January 2019 by 50connect editorial
The new year may have started but there’s still time to think about making those financial resolutions for 2019.
The new year may have started but there’s still time to think about making some money management resolutions for 2019. We've put together some top tips that could help get your bank balance back in shape, if not your waistline!
- Keep track of your money. If your bank offers Real Time Banking, whenever you check your balance it will be up to date – using ATMs, over the phone, online or in a branch. You’ll also get regular bank statements that will show every transaction you make.
- Arrange for your salary to be paid directly into your account – so you know it will always get there quickly.
- Avoid the headache of paying bills by setting up direct debits. Payments are easy and convenient because they are collected automatically from your account and you could get a discount on your bills.
- If you have overspent at Christmas and could use some extra help, ask your bank about overdraft facilities but be sure to clarify the overdraft limit and what charges accrue.
- Consolidate any borrowing to make it more manageable. If you’ve got outstanding balances on more than one credit card, think about moving all of them onto one.
- Choose a current account that can help save you time and money. Many banks offer current accounts which include a range of benefits such as free travel insurance, AA breakdown cover and card protection.
- Start saving so you’ll be able to afford those luxuries. Get used to accounting for your spending and make savings where you can. There are many budgeting apps for Android and Apple devices - such as PocketGuard, Wally and Clarity Money - that you can dip into and keeps tabs on where you stand with your money.
A lot of new year’s resolutions are meant to help you get back in shape again after the Christmas excess but these tips could help your financial health and may even help you gain pounds!
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