| Spring-clean your finances |
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Spring-cleaning your finances The New Year period is a popular time for reviewing and renewing, so why not take this opportunity to spring clean your finances and make sure you’re on top of your money? Whether you are financially comfortable or you are struggling to manage the post-Christmas burden, it’s never a bad time to ensure you’re making the most of what you’ve got. 1. If you have used credit cards or loans to pay for Christmas, now is the time to work out how you’re going to repay them. Don’t hide your head in the sand – it may seem scary but there will be a solution. Create a simple budget and work out how much you will be able to spare once you’ve covered all your essential outgoings. Arrange a regular payment (maybe a direct debit or standing order) to avoid getting late payment charges. 2. Take a look at your current service providers (gas, electric, insurance, car breakdown cover etc) and check if you can switch any of these to a cheaper provider. There are lots of comparison websites out there which can help you to find the cheapest provider and it’s easy to arrange – even a small saving will add up over time. 3. Take a look at your most recent bank statements – do you have any old direct debits or standing orders still being paid which should have been stopped? If there are any payments going out of your account that you can’t identify, ask your bank for more information so you can check that they are still relevant. 4. Are you getting any benefits you are entitled to? Use the website http://entitledto.co.uk to find out. 5. Get help with budgeting and money management by attending a free CAP Money course – this consists of just three weekly two-hour sessions and may help you to change the way you run your finances. Go to https://www.capmoney.org/findacourse/ to find your nearest course. Christians Against Poverty (CAP) operates through a national network of debt counselling centres offering free, confidential advice. For more information, visit www.capuk.org or call 0800 328 0006. |
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