If you’re keen to make the most of your finances at the start of the New Year, there are a number of ways in which you can improve the way you manage money. Managing money in 2017 doesn’t have to be difficult and there are a number of steps you can take to ensure that you make the most of your time and money.
One of the first things that you should do is create a budget. Knowing how much money you have coming in and going out is the starting point for managing your money and this should provide you with a great starting point in understanding how to manage your money in 2017.
There are a number of online options you can use to help you create a good budget but you don’t need to use a computer to draw up a budget. A pen and sheet of paper is all you really need in order to draw up your budget. Some people prefer the peace of mind that comes with having a calculator but if you have a full record of your bills and income, you will have everything you need to draw up your budget and work towards managing your money in a more attractive and manageable way.
Be aware of sensitivities with respect to your finances
There may be things that impact on your cash and you may have to pay more money out at certain times. If you know that you have a lot of special events coming up, you will want to create more space and flexibility with your finances. If you believe that you are more likely to face more bills one month or around a certain event, try and plan for that occurrence.
Look to cut your costs
This is a piece of advice that seems obvious but equally, it’s a piece of advice that most people don’t want to hear. In an ideal world, yes, people would be able to improve their income levels at the drop of a hat and this would resolve any issues or problems a person may face when it comes to finances. However, this isn’t the case and it means people need to seriously review their finances and look for ways in which they can save money.
It doesn’t matter how big or small the savings you can make, you need to look towards making them and every item that you can cut back on or remove from your expenditure should be considered. If you regularly buy a coffee on the way to work, do you need to do this every day? Consider having a coffee at home before you leave the house or have a coffee in the office. The taste and benefit you receive from the coffee may be just as good and the money you save.
There is no denying that people struggle to save money but this is an area of your life that you have to take seriously, so sit down and look through your spending. If you are spending a lot of money on luxury items, you may want to think about how important these are to your life, because you may be better off taking the money and using it for different things.
Seek help or accept help when available
One of the biggest issues for many people when it comes to finances is the fact that they try and do everything by themselves. This doesn’t have to be the case and you will find that life can run a whole lot smoother if you accept help.
A good way to obtain help is through a guarantor loan. If you are looking for financial assistance and you don’t have a good credit score, you’ll find that calling on someone with a good credit score to help you out can be of benefit. A guarantor loan company looks at the lender’s credit score, so this means you are more likely to receive a more attractive APR, which will help you in the long run.
Managing your money in 2017 may not be easy but if you achieve it, you’ll find that you can take full control of your life.
Andrew Reilly is a freelance writer with a focus on news stories and consumer interest articles. He has been writing professionally for 9 years but has been writing for as long as he can care to remember. When Andrew isn’t sat behind a laptop or researching a story, he will be found watching a gig or a game of football.