As we’re now well into the new year, we can start putting 2020 a little further behind us and can continue to help get this year off to a better start.
One way to do this is to set yourself some targets and objectives to meet with your finances and to help with this, we’ve put together a list of tips and helpful ideas to get you ahead with your financial goals in 2021.
From budgeting advice tips, to avoid debt and how to be flexible with your money this year, read on to find out more.
First, take a look at your finances and assess where you can improve or what you need help with - then you can set your goals and see where you can go from there. You may find that you’re spending money in areas that you don’t need to for instance.
A great way to get started with this is by using a budget planner. Creating a plan will make you feel better and more aware of your finances - then you can assess where you can improve.
If you’re struggling with budgeting, we can help you. Our MABS team work in partnership with Housing Leeds, helping tenants who are struggling to budget their money and pay their bills - they will be able to help you create a realistic budget to get you back on track.
If you’re in debt and are struggling to pay it off try and attempt to work out a plan around it. It can be hard to know where to start when it comes to debt and how to exactly pay it off.
Which? have provided 44 tips that can help you if you are struggling with your finances and debt - these tips can help you get back in control.
Once you understand your current financial circumstances, you can then set your goals.
These can be big or small, as long as you feel you’re heading in the right direction. Try and set a financial goal in 2021 that is achievable and personal to you, here’s some examples of goals you could set:
Write your savings goal somewhere you can see it often like in your diary or even as a note in your phone.
With all the above sorted and in place, one of the best ways to achieve these goals is to start saving.
It can often feel like it isn’t worth saving until you have a substantial amount of money to put away - but saving is a great idea, however small the amount. Start small and once you get used to it you can always start increasing the amounts if you start earning more or feel more financially secure.
You can save with Leeds Credit Union, take a look at all of our money saving options and loans and make this year a Happy ‘You’ Year with us. If you’re looking for quick changes you can make to your spending habits, you should also take a look at our Money Saving Tips blog.
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