Beat the financial blues this January
We are already half way through January, and Christmas is but a distant memory. Everyone is back to work and we start to dread the postman arriving everyday with bills.
But what can be done get your finances back on track. We have compiled a list of ways below to get your finances on track for 2016. We also show you simple techniques to avoid getting back into debt next year.
The first thing we need to tackle is our credit card debt. Everyone’s situation is different but a great way to clear credit card debt is to transfer the debt to another card that has an introductory period of zero interest. However these companies do charge a fee to transfer the balance so shop around for the lowest rate. Also once the interest free period is finished you will revert back to paying higher levels of interest so monitor it carefully. The key to saving money this way is to pay as much off the debt during the interest free period as possible.
Second on the savings agency is our insurance. All insurance companies want us to auto-renew our policies. If you do this you can be guaranteed you are not getting the best deal. Although it can be time consuming looking for new quotes it will be time well spent. For example if you spent 2 hours shopping online for the best deals and saved £80 it would be worth it. We need insurance for our homes, motors, contents and travel and if we can save a little on each it will add up to big savings.
One of our biggest outgoings every month is our mortgage. If you are not tied into a deal you should keep an eye out for better mortgage deals. There are new deals coming onto the market all the time so checking this regularly will undoubted save you money.
These are only a few ideas of how to get your finances on track for 2016. As we go through the year we will have lots more tips and we will also direct you to the best deals and voucher codes as they happen.