So now that it’s February, and all the festive hullaballoo is officially done and dusted, we’d like to think you've finally found a routine and gotten into the groove of the daily work grind (or at least close to it?) Well if not, don't fret! There’s no better way to get organised than by buckling down with a budget and getting your finances in order.
But like we said, it’s February, and there’s a sudden romantic aroma in the air. Whether you think that scent really is the “smell of love”, or the result of a sickeningly sweet recipe of roses and chocolates everywhere you turn, Valentine’s day is just around the corner. Time to give some love to your savings!
Get to the heart of your finances and set up a budget
As they say, “you can’t love someone else until you learn to love yourself,” and the same goes for your savings! Before you can start saving a motza, you’ll need to learn to how to budget, baby! And it’s safe to say you've come to the right place. By crunching some numbers into our famous budget calculator, you’ll get an overview of where all your hard earned money is really going so you can determine where there’s room for improvement. With this insight into your finances, you'll be able to set up a regular budget, to avoid any silly splurges, and ensure you meet your savings goals asap!
The heart wants what it wants
Once you’ve worked out your 2019 budget, dig deep and have a think about what you really want to save your money towards, how much you’ll need to save and how long it’ll take for you to save it. Setting smart savings goals is a sure-fire way to stay motivated to save by painting a clear picture of what you can achieve by keeping your eye on the prize.
Make it official with a new savings account
Now that you’ve decided on a budget and settled on some savings goals, its time to make things official with your savings account soulmate. If you want to be swept off your feet by a savings account that ticks all the boxes, we suggest looking for one that rewards you with bonus interest for being a good saver. To really find ‘the one’, we recommend you do a quick savings account comparison and hunt down one with plenty of attractive features.
Make a date with yourself
Once you've tied the knot with your savings account match made in heaven, don’t forget to spoil yourself with some savings-TLC! Always remember to pay yourself first and then watch that bank balance multiply! Ideally, your new savings account boo will spoil you rotten with a great bonus interest rate to help you maximise your savings. An effortless way to go about this is by setting up a regular direct deposit into your savings account each pay-day. By arranging automatic savings deposits, you’ll never miss a payment and always get what you’re worth.
Break up with a bad deal
Never settle for second best! Regularly re-evaluate your finances to pick up on savings red flags so you can break up with any bad deals. If you’re currently paying a hefty interest rate on your car loan, or you’ve fallen out of love with your credit card, now’s the time to compare your options and find a better match. Think of it as the tinder for your finances!
Take control of your finances in 2019. Head over to our life & money hub for more savvy saving tips!