The start of the year is the perfect time to take control of your finances and set yourself up for a stress-free year. Whether you’re just starting out or looking to refine your money management skills, here are some easy tips to help you boost your financial wellbeing.
1. Keep track of your money
Understanding where your money goes is the first step to better financial health. Start by tracking your income, expenses, and spending habits. This will give you a clear picture of where you might be overspending and where you can cut back.
2. Put together a budget
Creating a budget helps you see what and when you can spend—and might even help your money go further. A budget planner can guide you through the process. For a simple and user-friendly option, check out the free online budget planner on the MoneyHelper website. You can save your progress and return to it anytime.
3. Get to grips with your bills
Organising your bills is key to staying on top of payments. By tracking due dates, you can decide whether to consolidate payments into one or two monthly dates or spread them out to align with your budget. If you’re unsure how to prioritise your bills, MoneyHelper’s Bill Prioritiser tool can help identify the most important ones to tackle first.
4. Set up low-balance alerts
Avoid surprise overdrafts by setting up low-balance alerts with your bank or building society. These alerts notify you when your funds dip below a certain level, helping you manage your spending without constantly checking your account.
5. Check your credit report
It’s a good idea to review your credit report annually to spot any errors or issues. Don’t worry—this is a ‘soft search’, is not visible to lenders and won’t impact your credit score. Websites like Money Saving Expert explain how to check your credit report for free.
6. Be aware of benefits
You might be entitled to benefits or financial support you haven’t explored yet. Use resources like our benefits calculator to ensure you’re not missing out.
Taking even small steps to improve your financial wellness can have a big impact on your financial confidence and peace of mind. Start with one tip today and build from there.
Our helpline is available 24/7 for more practical and emotional support for financial challenges. We also provides financial assistance for people of reduced financial means, facing hardship. The ways we can help starts with a conversation. Contact our friendly team on support@theprintingcharity.org.uk or 01293 542 820 to discuss our available support.