Make your financial New Year’s resolution a reality

Calendar with number 10 circled in red, Dates

A recent Nielsen survey shows that saving more money and spending less was the fourth-biggest New Year’s resolution in 2015. If you had money woes in 2015, you can make 2016 a financially better year by learning to save and spending less. It is still February, so you have another ten months to give your finances a more decent appearance with our tips.

Transfer money to your savings account

The best way to save money is to transfer a fixed amount every month on payday to your savings account. Even if the amount is modest, it’s a start. It will help build your savings.

Take a second look at your spending habits

Most of us spend money on things we don’t need. Take a good look at your spending habits and refrain from wasteful spending. Forget those extras – coffee and sandwich for lunch, lottery ticket (the odds are against you) and frivolous purchases at the supermarket. Saving from your daily spending can make a huge difference to your overall finances.

Enjoy the free things in life

Instead of spending money going to the cinema, look at the free things that you can do during the weekends. There are some amazing things that towns and cities in the UK offer that are absolutely free and can be quite rewarding. This will stop you from spending money on wining and dining in restaurants.

Speak to your utility providers

Contact your utility providers to renegotiate your monthly bills. If that doesn’t work, switch to a more affordable company. This will definitely save you money.

If your finances are in a mess and your outflow exceeds the inflow, it is time to consult a financial adviser. This may sound daunting, but you will have a smile on your face at the end of the year when you meet your financial goals.