WHAT EVERY WOMAN OVER 50 SHOULD DO – RIGHT NOW

GET WHAT YOU’RE ENTITLED TO

You might balk at the idea of claiming benefits, but at this stage it’s worth pulling in whatever cash is available, not only for yourself but also for your ageing parents and student offspring. Try websites such as Turn2Us.

org.uk or Entitledto.co.uk, which have calculators that will show you what tax credits or benefits you or your family members could be claiming.

GET SOME MONEY KNOWLEDGE

WHEN it comes to finances, knowledge is power. You don’t have to be an investing genius to get on top of your money day-to-day, but if you read just one article about finances each week, you will start to build up your understanding and find out easy and quick ways to keep and grow the cash you have.

Money Mail (every Wednesday in the Daily Mail) is a great source of easy-to-understand information. You can also sign up to free money newsletters, such as the one on MoneyMagpie.com.

SAVE A LITTLE EVERY MONTH

Frankly, even if you can save only a tenner a month, do it.

One of the big secrets to building wealth is to save regularly, which is why bank standing orders are so handy. As you make more money, you can increase that standing order. Don’t put off saving and investing just because you don’t think you have enough.

A tenner a month is enough to start. Just make sure you increase it as much as you can as soon as you can and don’t touch it until you absolutely have to retire.

MAKE CHILDREN EARN MONEY

AS SOON as they’re able, get your children thinking of paying their way instead of always scrounging off you.

Paper rounds, dog walking, even being a film extra (starnow.co.uk) are all fun ways to broaden their horizons while contributing to the family coffers.

PAY FOR EXPERT FINANCIAL ADVICE

IF you’re wondering about your assets, retirement and your family’s financial future, it’s worth paying an independent financial adviser to give you pointers.

Don’t just ask your bank or building society.

It’s worth paying for this advice. All advisers will give you a halfhour consultation for free, so you could even try out two or three of them and get lots of free advice before hiring one. Try Vouched For.

co.uk to find advisers with good references in your area.