Christmas, while the most wonderful time of the year, is also one of the most expensive times of the year. This should be the time to relax and enjoy moments with family and friends, now more than ever. So, as a gift from Penguin to you, we want to relieve your financial worries by presenting you with 12 tips for saving and sorting out your finances.
You might be surprised by how much more your company could match you, so don’t leave any extra money on the table.
See how much you’re spending over 12 months and set yourself obtainable spending goals to save yourself even more money
When you receive your wages, if it’s an odd number, then transfer the odd amount into your savings.
E.g. If you get paid £875.90 a month, transfer that £5.90 into your savings.
Round up your pennies to the nearest £1! If you pay £3.35 for something, it’ll transfer the extra 65p straight to your savings account.
The loan will likely be much lower APR%.
You’ll get money back on your purchases.
Get income protection so you can be sure that, if anything happens to you, your income is protected and you can still afford to live if you cannot work.
Most companies will rely on you auto-renewing your insurance or utility policies, yet by spending a bit of extra time looking into new providers when your policy is up, you’ll likely find a better deal elsewhere.
Have some items you no longer need? Sell them to free up some extra cash around Christmas and get rid of the clutter.
On payday, make sure that, before you do anything else, you continue to build up your savings account. It’s important you have an emergency fund, should the worst happen.
Once you’ve built up a collection of loyalty points, you can spend them to get money off. Remember to look for bonus offers that will make your points go further.
Did you know you can claim for things like travel and uniform?
And that’s a (gift) wrap! We hope you found these Christmas tips useful. For more personalised financial advice on savings and managing your assets on the lead up to Christmas, contact Penguin Wealth where one of our Financial Advisors will help you plan your finances for your future. Book before the end of 2020 and receive 10% off your financial plan.
Image credit:Christmas vector created by macrovector – www.freepik.com