Five financial resolutions for 2020

Looking for some financial inspiration for 2020? Here are some tips from Laura Suter, personal finance analyst

1. Start a "money club" with friends that focuses on any aspect of money, so a savings club, an investing club, or a paying-downdebt club. Firstly, it will start you talking about money. But also, much like weight loss or pregnancy groups, having the support of people in the same situation will help you to learn tips to achieve your goals - as well as holding you accountable.

2. Tackle a bill a month. Pick one bill each month and cut the cost. The simplest way could involve calling your current provider and asking what their best rate is - this is "low hassle" and often results in a saving. It can also help if you can point out what a competitor is offering.

3. Build an emergency fund.

Lots of people will struggle if they have an unexpected cost. But if you squirrel away a little bit of money each week or month it can add up - even by starting with a small amount. You can also use rounding-up services offered by many banks, where they round up your purchases to the nearest pound and save the difference.

4. Have "no spend" days. Try to have at least one "no spend" day a week - or more if you can manage it. By avoiding spending any money on one day it will make you more aware of the money you spend on other days - and highlight where you're spending without thinking.

5. Tackle your pension. Make sure you know who your provider is, how much you're paying and what that money is invested in. You could also use online calculators to look at how much your pot is likely to grow to by the time you retire.