12 March 2019
Spring clean your finances
It’s that time of year when many of us will be looking at our finances after the winter downtime and before the new tax year kicks in.
From organising your home and personal finances to easy ways to make a bit of extra cash to help along the way, take a look at our top tips for spring cleaning your finances this month.
It sounds simple, but taking the time to sort through your paperwork is well worth it. Filing your bank statements, home and car insurance policies, household bills, mobile phone and council tax bills, and any other major expense coming out of your bank account, might seem like a laborious task but is a useful way of keeping track of your finances.
If you have gone paperless with your finances, make folders within your emails or on your computer and file them away. It is generally recommended to keep hold of bills for at least two years, as these can often be required when making big purchases, such as putting a deposit down on a house.
Get rid of unwanted payments
As part of your general organisation of statements and bills, taking a thorough look through your bank statements may highlight any direct debits leaving your account you’re unaware of, or subscriptions you no longer require. This could be anything from gym memberships to magazine subscriptions, but by cleaning up the unwanted subscriptions – no matter how small – you could save yourself money and see your funds looking much healthier as a result.
Compare and contrast
If you’re unhappy with the interest on your current ISA account, or feel you’re not getting good value from your energy provider, take a look around for better deals. Comparison websites make switching providers much easier, and most have a full run-down of the best deals on the market at any given time.
Clear your clutter
Giving your finances a spring clean doesn’t have to end with your bank statements. De-cluttering unwanted household items will leave your home feeling revived for the spring – and could even result in a bit of extra money in your pocket. Online auction websites or car boot sales are a brilliant way of selling on unwanted clothes, furniture or appliances.
If some of your items aren’t in good enough condition to sell, then donating to a charity shop or locating a local clothes bank is a good alternative.
Make the most of what you’ve got
While all of these options will give your finances a fresh outlook, for ISA holders there is still time to make the most of the current allowance.
It is also a good idea to look at the savings, mortgage and insurance market to see what changes and products are out there to help you make the most of your money.
Reviewing your finances doesn’t have to be a burden, and staying on top of your outgoings and savings will leave you ahead of the game in the case of an unexpected eventuality. From simply filing your bills, to making proactive tweaks to your accounts ahead of the new tax year, your finances will feel fresher than ever and leave you with a spring in your step for the season to come.
Pam y Principality?
- 6ed cymdeithas adeiladu fwyaf y DU
- Cymdeithas adeiladu gydfuddiannol, sy’n eiddo i’n 500,000 o aelodau ac yn cael ei rhedeg er eu lles
- Dros 150 mlynedd o brofiad
- Gofalu am werth dros £8 biliwn o asedau ein cwsmeriaid
- Gall Aelodau fynd at dudalen Gworau Aelodau sy’n cynnwys cystadlaethau, gostyngiadau a mwy.
Principality. Lle mae cartref yn bwysig.