20 January 2021

Financial health check

Financial health check

If your car breaks, you take it to the garage to have it fixed. If you get toothache, you visit the dentist. But…have you ever considered giving yourself a financial health check?

Get 2021 off to a great start and ensure your finances are in ship shape. You can reflect on 2020 and consider what you want to achieve this year.

Here are some ideas to get you started:

  • Download a budgeting app – manage your money on the go using an app such as Emma, Money Dashboard or Wally.
  • Check your standing orders – you might be paying for something that you don’t use anymore or might be paying too much for.
  • Shop around – if you’re due for a renewal or want to see if you can get a better deal elsewhere on your utility bills, it’s worth having a look around at different providers.
  • Review current subscriptions – don’t pay for what you don’t want or need.
  • Set new budgets – have a think about what you need to save money for this year whether it’s for a holiday, festival (here’s hoping) or house.
  • Consider adding 1% extra a month to your pension – not only does this help your future financial self, you’ll feel good in the knowledge that you’ll be one step closer to retirement. It will all add up!
  • Money Advice Service financial health checker tool – take five minutes to take this quiz to see what stage you’re at. The results will give you things to you might need to work on.

It’s worth writing your goals down somewhere to you can monitor your progress. Why not get your friends and family involved too?

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