IT IS the first week of January and millions of us are feeling the pinch after the festive season.
Christmas costs us an average of €1000 off per household this year, and that number is even higher if you have children.
With the cost of living soaring and so much uncertainty ahead, 2022 won’t be cheap.
That’s why now is the time to cut costs and be more sensible in your spending.
Instead of burying your head in holiday debt, you can actually save some money in 2022 by making some lasting changes to how your money is managed.
Creditcards.ie We’ve rounded up some top tips on how to “detox your finances” this January.
Here they are and take note, because you can save a fortune.
GET CLEAR IMAGES
Start with a thorough look at your income and expenses. List all your bills, subscriptions, debts, insurance, and other regular expenses. Be honest with yourself and highlight areas where you can change and then make a plan to address it.
CHECK YOUR CREDIT
The higher your credit score, the better your chances of getting a mortgage, auto finance, or loan. Your credit report will help you spot any problems and help you manage your finances in the future. You can check it by registering with the Ireland Credit Bureau (ICB).
Its easy to spend on Christmas, so if you do, it’s important to have a plan to pay back what you owe. Expensive interest rates can add to your balance, so check to see if you can save by taking out a transfer credit card to give you more time to pay off your debt.
REDUCING ENERGY COSTS
Energy bills make up a significant portion of any household budget, so it’s a good idea to look at ways to cut energy use at home and how you can cut costs by switching to energy bills. change supplier. You can save up to €570 just by switching to a different electricity and gas tariff.
Most of the householders home and car cover, But insurance is often a forgotten expense. Insurance companies take advantage of our financial oblivion and repay loyalty by auto-renew at inflated premiums. Use comparison sites to search and switch to a better value insurance company.
If you’re taking out a standard variable-rate mortgage, chances are you’re paying more than you need to. Talk to your mortgage provider or broker for free about changing to a fixed-rate deal and making the most of a lower interest rate.
If you are looking for TV streaming platforms like Netflix and other digital entertainment services check how much you’re using them and if it’s worth it. Some of these services offer family plans that can save you money if there’s more than one plan in your household.
https://www.thesun.ie/money/8165986/heres-how-seven-key-steps-change-spending-2022/ Here’s how to save €570 on your energy bill and change your spending with seven easy steps by 2022