How to have a great financial year in 2020

If you're a regular reader then you'll know I'm passionate about helping people save money in all aspects of their lives and that I believe everyone should have access to help and advice that will help them get their finances on track. And that what I'm here to do, to offer on advice on money saving and help people with their finances, I'm no expert but it's something I love and something I've been writing about for almost 7 years now. So today I'm going to help you make 2020 your best financial year yet!

How to get your finances in order

Get your bills in order

A super easy way to see your finances more clearly is to get all your bills and outgoings in order. By having everything go out of your account on the same day or within a couple of days it's much easier to see what you've got left. If outgoings are spread throughout the month then you'll never really no how much you've got left because you'll just be paying bills all month. It's super easy to align all your bill payments and I really do think it's one of the easiest things you can do to gain clarity on your finances. I've wrote a whole post on how you can easily change you bill payment dates and why you should so I highly recommend checking it out and getting all your bill payment dates aligned as soon as possible on order to start saving and tracking your money as soon as you can.

Switch utility providers

Switching providers can save you so much money. You can switch pretty much anything and you really should. Often you'll be in a fixed term contract so you'll have to see that out first but I recommend making a note of all your providers and when the contract is up so you know when in the year you should be shopping around. You can switch gas and electricity providers, internet, any type of insurance, phone contracts and even mortgage providers once your term is up. So get looking at what you pay for, how much you pay and when your contracts are up then shop around. Switching is super easy and there's often very little you need to do as the companies your switching between will handle everything or in the case of insurance policies it's just a matter of cancelling one policy and purchasing another.

Save money every day

There are loads of ways you can save money everyday without even realising your doing it. A few simple changes can have a big impact on your daily outgoings and how much you save. It's really worth looking into small way you can save money each day as it all adds up. For example it might be a case of taking lunch to work instead of buying it, investing in a travel mug and making your own coffee instead of calling into Starbucks every morning or cutting back on the amount of takeaways you buy when there's food in your fridge. Of course there are bigger changes you can make too that are super easy to implement. I have a whole post on how to save money every day that covers the bigger things you can do, they're all super simple and you could end up saving hundreds of pounds!

Create a savings pot

Whether this is a physical pot, a savings account, a Monzo pot, a Paypal account, it really doesn't matter as long as you're saving somewhere. I appreciate not everyone is in a position to save huge amounts, I'm not and that's fine. What matter is that you're getting into the habit of actually setting some money aside and saving for something. Those savings you're making every day from the above point? Put it in your savings pot. Every little helps and this is about getting into good habits at the moment not necessarily saving hundreds or thousands of pounds.

Side hustle

Side hustling is great way to earn a bit of extra money. Before we go on though I should point out that if you're earning over £1000 from side hustling then you need to register as self employed. It gets a little complicated but it's all worked out on the previous tax year so currently if you earned over £1000 between 6th April 2018 and 5th April 2019 then you need to be filling out a tax return. 

Right with that out of the way let's get back to the good stuff, side hustling is a great way to top up your savings or create a pot of money you can dip into for things like birthdays, Christmas or the occasional treat for yourself without touching your wage. There are so many ways you can side hustle and I'm going to write a separate post on this but things like sponsored blog posts, surveys and selling eBay are all great ways to side hustle.

Educate yourself

The best thing you can do to improve your finances is to educate yourself. It's a real bugbear of mine that personal finance isn't taught it schools. Taking time to research things will help you save loads, that's why I like to write so many money saving posts and financial posts because if it helps just one person then I'm happy. If there's something you're not sure about, research it and educate yourself. I've had to teach myself everything I know about personal finances but over the years I've saved hundreds and thousands by taking the time to educate myself rather than rushing into things blind.

What are your financial goals for 2020? Let me know in the comments. I hope these tips help you achieve your goals!

Calling all blogging babes! I've created a Facebook group where we can all come together and discuss all things blogging, money saving and everything inbetween. It would be great to see you over there. So to be a part of a super friendly and supportive community, hop on over to Facebook and join us!

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