6 Quick tips to spring clean your finances

6 Quick tips to spring clean your finances

Jan 2, 2018

Finances can be a messy and misunderstood subject for most. However, understanding how to save, invest and attain what you’ve always wanted is a rewarding experience and is a great way to progress. Here are six quick finance spring cleaning tips.

Easy budgeting – Tracking your expenses is a great way to understand where and what you spend on. There are some simple apps available at the moment like Mint.com, and You Need a Budget which are simple to use, yet very useful.

Emergency fund – Having an emergency fund is a safety net for you and your family if you lose your job or you are ill and need to take time off work. Look at saving a percentage of your earnings every month for this purpose.

Big-ticket purchases – Big ticket purchases are what eat up savings but if you have budgeted for it before you can look at putting something away for it every month.

Comparison shop – Comparison shop will help you compare insurances for auto, life, home, and even health insurance and it takes minutes.

Reduce credit card interest – Interest on your credit card is unnecessary. Look for credit card offers that provide zero interest for 18 months.

Check your credit – Always check your credit reports for errors and make a point to check your credit score. Keeping track of your score means that you will always know how much you can take on credit in an emergency without adversely affecting your credit score.