Spring is here again and as always, many of us turn our houses upside down – for a thorough cleaning and freshening. This season can also be used to cast a careful eye on our household spending.
- Go through your accounts: Read your bank statements. Check which payments are no longer necessary and put a stot to them. Stop paying for what you no longer need.
- Watch those automatic renewals also. You may be paying too much.
- Go through your paperwork and decide what to keep and what to shred.
- You can save hundreds of pounds by switching your utility providers and insurance policies. Why not take a weekend this season to go through all those things you are shelling out cash for to see where you can make those savings? Failure to do anything will mean you continue to languish on the most expensive deals offered by your providers. It’s temptingly easy to keep putting this off – even when you know action can make your finances better in the long run.
- By the way, if in the process of cleaning you find old £1, £5 or £10 notes and coins. there’s nothing stopping you from exchanging them for the current ones at the bank.
Do yourself a favour, spring-clean your finances.Niyi Adeoshun
Money Management Coach
Author of "The Price of Financial Freedom"
(3 Essential Steps for Breaking the Cycle of Debt)