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4 Financial New Year’s Resolutions for 2021
Posted on: 4th Jan 2021 by: CamOuse Financial Management Limited
The beginning of a new year is a great opportunity to get on top of some of the tasks you’ve been putting off for a while. For some people that means a good detox after a Christmas cake binge, picking up the exercise routine that didn’t quite make it out of last february, or committing to reading more books. Something to consider as we give ourselves an annual clean slate is making resolutions that centre your financial wellness. Nobody can be blamed for letting their focus slip from financial best practice during the year we’ve just had, but the best time to start getting things in order is always today (when yesterday is no longer an option, anyway!)
With that in mind, here are some ideas for resolutions you can set yourself to get your finances in better shape in 2021.
1. Work on your debt
It’s easy to get carried away with the credit cards over Christmas, and even if you haven’t, January is a good time to assess your debts and take stock of your priorities. Perhaps one of your credit cards is hitting you with a heavier interest rate than you realised, it’s often wise to focus on reducing your interest payments before worrying about saving your income, as it may save you money in the long term.
You could be eligible for a 0% balance transfer credit card which, for a fee, will give you the time to tackle your debt without accruing further interest. There are even balance transfer cards which don’t charge a fee, but do have shorter interest-free periods.
2. Get into a routine of saving
The time might be right for you to think seriously about how much of your monthly income you’re putting into savings. You should be aiming to have savings separate from any pension contributions, and while how much is the right amount to put away will differ from person to person, a goal of 10-15% of your income is a great resolution to give yourself.
Giving yourself a goal for your savings, whether it’s a total figure or a particular purchase, can be a helpful incentive. The most important thing is getting into the habit of putting money aside every month.
3. Start budgeting
It’s much easier to lose control of your finances when you don’t have a plan. Start deciding exactly how much you want to spend on a weekly or monthly basis and stick to it. Nobody said it was easy, but it’s certainly rewarding.
4. Learn more about personal finance
The more you know when it comes to your own finances, the better. There are self help books, blogs and podcasts widely available. While some topics can be complex and are best left to the professionals, understanding the basics of your financial wellness will go a long way.
If you’d prefer a helping hand on your journey to financial success, consider talking to a professional. If you have any questions, don’t hesitate to get in touch.
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Lee Pooley
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Lee Pooley
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Lee has provided me with mortgages and appropriate insurance for both my home and lease properties. He is professional and works to get policies in place in an extremely quick time frame. I would certainly recommend Lee and CamOuse to anyone and I personally will continue to use their service.
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Lee Pooley
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Jo Kurz
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Jo Kurz
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Jo Kurz
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The whole team at CamOuse are friendly, professional and always look after your best interests. Thanks for your help!
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Lee Pooley
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We've only been with CamOuse just over a year but would highly recommend them. We deal with Matthew who is an excellent adviser, always very responsive to questions and goes the extra mile to help.
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Matthew Theobald
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Jo Kurz
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Lee Pooley
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Would like to extend our thanks to you and your team for a fantastic customer service as always.
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Lee Pooley
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We paid a small fee to Camouse for whole of market mortgage broker services. As first time buyers, Lee and Eve were able to guide us through the process, find us a deal and sort out the applications in a really helpful friendly and efficient way. We were very satisfied and would recommend CamOuse to others for this service.
L Humphrey
Lee Pooley
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I was extremely pleased with the quality of the service I received when arranging a mortgage as part of a house sale and purchase through CamOuse. Lee and Eve were very easy to contact and always quick to respond. I would definitely recommend their mortgage arrangement services.
G Dewdney
Lee Pooley
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Jo has been extremely helpful and very patient and I will be recommending her highly to other family and friends of mine. I do sincerely appreciate the way Jo handled my issues and also the excellent and very professional way she conducted business. She is an absolute asset to CamOuse.
C Tate
Jo Kurz
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CamOuse have been our go-to financial advisers since 2008 and have assisted with numerous mortgages, remortgages, insurances, and general financial advice. Lee Pooley and Eve Nowakowska have been invaluable during this time. We've built up an excellent relationship with both and trust them completely to do what's in our best interests. Both are an absolute pleasure to work with and I cannot recommend them, and by extension CamOuse, enough!
I Murphy
Lee Pooley
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We used the services of CamOuse to help in buying our first home and setting up our mortgage and we were extremely happy with all the advice and help we got. We spoke to Lee mostly, who was really great! Very insightful, very friendly and helpful, very patient and all-round great service. Would happily seek their help again. Many thanks Lee!
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Lee Pooley
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We have been taking mortgage advice from CamOuse for over 20 years and are always impressed by their friendliness and professionalism.
N Amery
Lee Pooley
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Thank you to Matthew and Julie for making a huge difference in my life when I thought I was so stuck and felt there was never going to be a way to move forward.
L Smith
Matthew Theobald
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£5,772 |
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£41,865 |
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9% of Basic Salary of which |
4% is employer's (starting at 2%) |
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8% of Basic Salary of which |
3% is employer's (starting at 1%) |
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(Where basic salary is at least 85% of total earnings) |
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3% is employer's (starting at 1%) |
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