Managing money is rarely straightforward. After all, it might be coming from lots of different sources and then going back out to lots of different places. However, there are a number of ways to help you keep on top of your finances and manage your money effectively. Read on to find out what they are. Hire A Financial Advisor
Financial advisors do exactly what you’d think- advise you on your finances! Some will even come over to your house and meet you there. Have all of your banking, investments and earning information to hand, as well as any related letters.
Have A Meeting With Your Bank
If you don’t want to pay to see a financial advisor, you can get free advice from your bank. A member of staff will sit down with you in a private room and go through any accounts you have with them. They will be able to give you advice and ask any questions you might have. Make the most of their knowledge and remember that they’re there to help!
Pretty much everyone has a smartphone these days. There are dozens and dozens of apps out there to help with money management. This list here will give you some good ideas.
Have mobile banking
Most of us now have online banking, but do you have mobile banking? Download your bank’s apps and you can access your account from your phone. You’ll be able to access it with a short pin, or even just your fingerprint in some cases. You can also transfer money. This means less chance of getting a fine if you go over your limit, as you can quickly remedy it.
Use Online Calculators
Once you reach 55, you become eligible for equity release on your home. This equity release calculator lets you find out how much you could release by comparing different UK-based providers. You can also order a free equity release guide.
Keep A Contingency Budget
Even if you’re great at budgeting, you should always have some contingency. Unexpected fees and costs can crop up along the way and take you by surprise. It might be a speeding or parking fine, or an emergency dental treatment. Whatever it is, make sure you can pay for it.
Have Treat Money
It’s all well and good taking care of your money, but you can’t take it with you when you’re gone! Have treat money too. It could just be for a weekly trip to your favourite coffee shop for a hot chocolate and slice of cake!
Check Comparison Website
Companies need to be competitive to gain and retain customers. If you’re not checking up on the better rates and offers every now and again, you’re missing a trick! Check whether you could be saving money on things like electricity, car insurance and your mobile phone, for instance.
Pay By Direct Debits
If you pay your bills yourself each month, you’re running the risk of forgetting one time and getting charged. Bills can also really start to stack up this way! Take some time to set up direct debits for all your bills. It’s far easier in the long run.