Spring - time to refresh your finances
30 Sep 2020
It’s Spring, and what better time to clean up your finances. Throughout the year, it’s easy to become distracted and allow your finances to veer off in different directions. Now’s the time to clear the dust and make sure you have a plan that works for you and your family.
Here is the number of ways in which you can refresh your finances:
Re-look your budget
A realistic and balanced budget is key. Take a look at what you spend now, your salary and your financial goals. How can you change your spending to free up more money? Is your budget filled with wants or needs?
Create a plan to pay off your debt
Adjust your budget and commit to paying off credit cards and loans. If you feel overwhelmed or need advice, speak to your financial adviser or call Liberty on xxxxx.
Establish a bill-paying process
Use debit orders or stop orders to make sure essential bills are paid. Or create a calendar to track bills and due dates, and make sure your bills are paid on time.
Review your insurance policies
As your life changes, your insurance needs change. Speak to your insurance provider about securing lower rates on insurance policies. This will free up money in the rest of your budget.
Try out a mobile app
Mobile apps make it easy and convenient for you to organise your banking and finances. Each has features to accommodate your needs. For example, some help with budgeting and account payments, while others assist with paying off debt or monitoring your credit score.
Stop clutter before it starts
Avoid unnecessary spending, credit card debt and loans. This will help free up your budget and let you live with greater peace of mind.
For more information on how to declutter your finances, speak to your Liberty Financial Adviser.
- Carina Diamond, `Spring cleaning your finances’, CFP, letsmakeaplan.org
- Take Charge America,`7 tips for financial spring cleaning’, 18 March 2020