Personal Finance

As spring approaches and the weather warms, it always seems like there's something more fun to do than plan your finances. But don’t put it off any longer. It will make you feel better to know you are in control of your financial situation.

1. Get it together

First, get a full picture of your finances. Gather all your documents, such as annual statements, tax documents, or vendor invoices. Put out-of-date paperwork through the shredder. Keep everything together in one place for handy reference to save time in the future.

2. Make your money work harder

Check all your accounts – could you get a better deal? Although some banks have cut back on their offers for new customers, it’s still worth checking to see where you can save, or even make money. For example, are you paying monthly service charges? Perhaps another provider offers the same service for free?

3. Change all your passwords

Stay safe online. Once you’ve phoned the contact center to retrieve your forgotten username (!), give your passwords a refresh (especially if you have been recently notified of a security incident), making sure they’re secure and memorable, and change them regularly in future. Make a habit of giving your statements a quick check to spot any fraudulent activity – easily done via your banking apps.

4. Spend it wisely

Spending money brings us happiness, so it's rarely "wasted," but we can all admit to non-essential purchases that were not value-for-money. That dress you never wore. That hot tub. Check back through your statements. Ask yourself honestly, was it a waste of money? Add up that spend. What could you spend it on in future instead, a little more wisely?

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