Track your spending: This is probably the number one thing any of us can do to start building better financial foundations. It’s hard to make changes for the better until you know exactly where your money is going. Include everything from bills and bank fees, to nights out and online shopping benders.
Check your credit score: It’s never been easier to know exactly where you stand when it comes to your credit score. Check it now via Credit Simple, and consider requesting your credit file at the same time. Do it well before you think about applying for a personal loan or other types of credit, so you can address anything that may need addressing.
Clean out your wallet: We reckon a tidy wallet, is a sign of a tidy financial mind. Clearing out all those old receipts is another excellent way to track spending. It’s also a great opportunity to do a quick audit of what credit and/or store cards you have, if you need them all, and should you consider consolidating some debt?
Write a goal, make it bite size: This is the fun bit really. Think about what you’d want to be spending your money on, or saving towards, if you made a change to your current habit. The dream can be as big as you like, but break it down to achievable monthly targets such saving a certain amount from every pay packet. Write the goal and your monthly target down and leave them somewhere you can see it.
And pick yourself a prize. It can’t be all homework. When you hit that monthly goal, reward yourself. Keep it small and inexpensive, so you don’t immediately derail yourself, but something you’ll find satisfying. It should help keep you on track.