Hints on Looking After Your Finances – Whenever you read about looking at your finances, the articles usually tell you about how you should save 1/3 of your wages, buy a house rather than rent and skip the odd coffee before work in order to be frugal. However, in the real world money doesn’t work like that and if you’re anything like me – the money you get in each month is money you need, so saving up seems so hard. However, I wanted to share some tips for looking after your finances, that actually work in the real world.
Track Your Spending
One of the biggest things that made a difference to my finances, was taking responsibility for what I was spending. By tracking my spending, I no longer had trips to the cashpoint when I was trying to draw out money with my fingers crossed. Losing track of my spending in the past meant that my balance was something that I never know how good or bad it would be. Now, I try to keep much better track of what I am spending. As a direct result I am a little more sensible in what I spend my money on – although not always, that’s a lesson I have yet to learn.
Be Sensible About Borrowing
Although borrowing money isn’t always the right decision, I do know that there are times when it is the only option – or indeed, the best option. The only thing I would say is that you should always make sure that you research who you are borrowing from and make sure that you make the best financial decisions for you. Choose a direct lender such as Polar Credit who offer a credit line that allows you to borrow only the money you need, when you need, with flexible repayment options. The information provided on the Polar Credit website is easy to understand – so there are no nasty surprises when it comes to what you’re borrowing and how much you’ll need to pay back; which is super important when making any borrowing decision.
Work on Your Credit Score
When I was younger I didn’t really understand or care about my credit score, but it is something I have been working on over recent months. Although I’m not likely to be applying for a mortgage or anything anytime soon it’s handy to know that my credit score would be good enough to do that if I wanted. Paying bills by direct debit and on time is the best way to work on your credit score. However, the first step is looking into what your credit score currently is and make sure that there are no old debts or inaccuracies on your report that could be bringing your score down.
Be Sensible
Of course, if you’re interested in looking after your finances then being sensible when it comes to what you’re spending your money on is a must. I know saving is hard, but if you’re able to save even a few pounds a week this will soon add up. Lots of bank accounts offer small savings accounts so that’s a good place to start.
If you have any hints or tips for looking after your finances I’d love you to share them below
Debz
*Collaborative post
Debz Louise is a plus-size blogger based in Yorkshire. Behind many nationwide campaigns such as #WeaAreTheThey & winner of Best Blogger at the UK Plus Size Awards, she talkas about life as a plus-size 40-something woman in South Yorkshire.
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