Recent changes in circumstances have led me to reassess my finances and really go back to basics with how I manage my funds. Here’s what I have done to try and redress the balance, and here’s what you can do in one day to overhaul your finances:
1. Phone your utilities supplier and check that you are on the cheapest tariff you can be. Cancelling your paper bills and managing your account online can save you money. I think I saved £12pa by going paper-free which sounds like nothing but is better in my bank account than in my utility supplier’s clutches. Like, stop funding some big shot’s Caribbean bolthole and look after #1.
2. Check your energy usage so you know exactly what you are using in excess. You can always reduce that. I’m so bad for having the heating on full blast all the time. I mean, being cosy is like my favourite thing ever. Today, you can go round your home and switch things off that don’t need to be on. Do that every day.
3. Phone your tv, internet and phone providers and check you aren’t paying for anything you don’t use. I reduced my phone bill by £5pcm by removing a data bolt-on I didn’t touch, and also saved £15pcm on sports channels I didn’t know I had.
4. If you don’t have mobile banking you need to get that right now. Every morning I wake up and check how much money I have. It shapes my spending for the day, and helps to reaffirm my determination to save.
5. Cancel any non-essential direct debits. That means you should probably stop sponsoring that orangutan. Heartless, I know.
6. Open a savings account. Transfer a small amount of money into it. Make the pledge that any money that goes into your savings account stays there. I’m guilty of saving up a substantial amount of money and then slowly frittering it away on non-essentials such as manicures and Nandos.
Lastly, REMEMBER: Rich people are the stingiest.
Born to be wild,