How to clean up your finances in 10 easy steps

The New Year is the perfect time to address any lingering issues you might be having in your life and for many of us, our biggest concerns revolve around money.

Sorting out your finances can seem like a daunting task. There’s so much to think about and things like budgets and banking can be quite tricky to get your head around on your own. At Gallivan Financial, we’re here to help. Follow these 10 easy steps and 2018 could be a very prosperous year indeed.

1. Be proactive.

If you’re serious about sorting out your finances, you can’t just go with the flow. Take time out to make plans and tackle problems.

2. Manage your credit and debt.

Credit cards can be a godsend at times – if used in the right way. Just because you have a certain limit on your card doesn’t mean you should be reaching that limit. It’s important to remember that this is the amount that the banks want you to spend, not necessarily what you can afford.

If you’re worried about your debt, it might be a good idea to seek professional help. The problem won’t go away on its own.

3. Save smartly.

It’s a factor that many of us don’t pay enough attention to but try to get the best interest rate possible. Don’t be afraid to shop around for better savings deals elsewhere. Work out how much of your income you can afford to put away every week or month and stick to that amount.

4. Get insured.

Life insurance can be expensive but think about the alternative. How would your family cope if something happened to you? When you think about it like that it really should be a priority. Talk to us today about getting the perfect life cover to suit your needs.

5. Stay vigilant.

Be very careful about whom you share your details with. Don’t give out sensitive information over the phone or via email unless you’re 100% sure that you know who you’re talking to. If a deal seems too good to be true, it almost invariably is!

6. Keep track of the money going out.

When you actually see a written record of your expenditure you will start to notice worrying patterns and unnecessary spending. You can then begin to make changes by limiting your spending to the essentials.

7. Avoid impulse buying.

Of course it’s tempting to splash out on something nice but try your best to exercise restraint. Make sure that all of your purchases are based on requirements. Plan what you’re going to buy and stick to the plan.

8. Home comforts.

Clear out your house by selling or donating anything you don’t need. People often find that tidying up their home helps clear the mind – and you could make some money in the process.

9. Maximise your earnings.

Are you getting a fair day’s pay for a fair day’s work? It’s possible that you might be deserving of a raise or promotion. If you don’t ask, you won’t get!

10. Education is key.

Always strive to learn as much as you can about your finances and all the factors that affect them. The more information you have, the better equipped you will be to make the important decisions that will shape your financial future.

Visit GallivanFinancial.ie today for more helpful advice on a whole host of topics!

Best wishes,

The Team at Gallivan Financial

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