Question: are you a list person?
I love ticking items off and the feeling of completion – and relief when the last item is ticked. Even if I don’t get everything done it feels good.
Number 1: Check your bank statement to make sure you don’t have any direct debits or standing orders you don’t recognise.
Action: If there is, do you recognise the people who are getting your money? If you do and have authorised it, that’s ok. If not ring them and find out what the money is for. If you do not recognise it and cannot contact them then simply stop the payments, they will soon chase you and you can decide whether to re-start.
Number 2: Be aware of your energy costs, do you know when your gas and electricity contracts end?
Action: Make a note in your diary to check when they are due to renew. You should be receiving a letter explaining the new tariff and if you do nothing they will move you onto the higher rate. Most people will ignore the letter, maybe not even read it, and do nothing. This means the rate you will be offered may not be competitive. I know it is a real bore but it is really worth looking around. The comparison websites are helpful. Find out how much gas and electricity you used last year to make the comparison easier, you should have the meter reading for the last 12 months making the maths easier to calculate.
Number 3: Don’t impulse buy food. Shop when you are not hungry.
Action: Know what is in your cupboards. Do you have lots of bottles of olives and sometimes run out of salt? Make running lists so as you run out you add it to your list. With so many of us using our phones for so much why not add this to your list.
Number 4: Save every day, pennies grow into pounds.
Action: Have a piggy bank, could be a jar or bottle and put your loose change in at the end of the day. You may decide to save only £2 or all change under 50p, whatever works for you. It is amazing how quickly this money grows. A client of mine saved £330 last year putting bits of change into a big jar.
Number 5: Do you find money a really difficult subject? Does all this sound too much for you? Maybe you need a money coach/ buddy to help you.
Action: Look at my website; maybe my money seminar will be good for you. Just pick up the phone and get in touch.
I often spend time with clients trawling through their statements to help them, perhaps I can help you. Pick up the phone and call 0113 268 9102.