Cash advice
If you ever look at your friends or family and think, ‘How are they so financially sorted?’ Don’t despair. Most of us struggle to keep on top of everything money-related, and it’s easy to feel like you’ve dropped the ball a bit. But we can all make quick changes that can help us keep our finances in order – it’s all about creating the right habits. ‘Start today and you’ll be a money whizz in no time,’ says financial expert Sara Benwell...
MAXIMISE YOUR MONEY
Whether it’s choosing a low-fee ISA or making sure you get cashback on all your shopping, financially switched-on women make sure they’re getting the most bang for their buck. Every time you save or spend money, ask yourself: is there a way to save more?
SHOP AROUND
Financial journalists say this a lot, but savings can easily mount up into thousands of pounds a year. And who wants to spend more than they need? Put simply, whether it’s a new top, a holiday, or renewing your mortgage or insurance, it’s always worth spending five minutes to make sure you’re getting the best deal.
KNOW YOUR BALANCE
At the very least you should be checking your balance every week but, in reality, you should check it more often. That way you’ll know how much you’ve spent and how you’re doing against your budget. It’ll also mean you’re aware of unexpected transactions, and you’ll spot fraudulent activity quickly, too. Now, it’s easier than ever before. All the big banks have apps and online banking, so five minutes on your gadget and you’ll know how you’re doing. After all, how can you be a financial whizz if you don’t know how much money you have?
DEAL OR NO DEAL?
When we’re trying to be good with money, it’s easy to get sucked in by a sale. But if you’re buying something you don’t need (or sometimes even want), it doesn’t matter how much it’s discounted, you’re still spending money for no reason. Take advantage of deals on stuff you actually want, but don’t buy the skirt that doesn’t quite fit just because it’s 75 per cent off – you’ll never wear it.
OUTGOING OVERLOAD?
Set aside a couple of hours every few months to go through your expenses with a fine-tooth comb. You may have a bill you’ve forgotten and it’s slipped on to an expensive tariff or, even worse, you’re paying for a service you haven’t used in a year!