A Beginners Guide to Getting Financially Organised

published May 30, 2022
1 min read

Do you find yourself constantly stressing over your money management skills? Are you financially illiterate or sick to the back teeth of worrying about your future retirement fund? If you said yes, you’re not alone by any means; money management issues would plague the thoughts of plenty of individuals all over the UK.

When turbulence defines the current socio-economic landscape, it’s best to focus in on what you can control, and if that means confronting your organisational demons, then it’s best to get stuck in.

Here is a beginner’s guide to help you get financially organised. Hopefully, it can put you on the right path to busting your stress and maximising your savings.

Search for the Best Banking Deal

While you may be more likely to get a divorce than swap banks, it’s still worth looking into because you might be missing out on some benefits if you remain on a banking plan that doesn’t suit your current needs. Switching is simply a case of shopping around and searching for a plan that’s going to benefit your money-saving journey.

Come Up with a Budget

A good budget should be fairly easy to commit to, as long as it puts your needs first, like rent and utility bills, for example, and accounts for your wants and savings after. Perhaps it’ll be easier to save if you’re saving up for something in particular, rather than just saving as a terrifying existential concept.

Paying Down Debt

Paying off debt should be a top priority in many cases, so it’s worth coming up with a savings budget that puts it first.

Get Help from the Apps

There are plenty of great money-saving apps online, and loads of them are free. If you’re struggling to stick to budgets or you’re overspending, an app may enable you to take charge of your finances once and for all.

Consolidate Your Pensions

The earlier you can start organising your pension, the better your monetary reward will be later on down the line (thank you, beloved compound interest!), so even though retirement seems a billion miles away, it helps to think about it now.

A great way to maximise your pension and organise your finances is to consolidate your various pots under one roof. If you combine pensions into one secure and easily manageable location, you can keep better track of it, and you’ll have an easier time investing it in the future, should you wish.

Organise Your Subscriptions

If you aren’t using your subscriptions, get rid of them!

This can free up a surprising amount of spending money in some cases. If you’re spending more than you’re making, you’ll need to think about areas you can cut back on, and subscriptions are a good place to start. Such is the tyranny of modern life.

Seek Expert Advice

A financial expert will likely be able to make you feel better about your money situation, so it won’t hurt to reach out for advice. Feeling down about money is a horrid position to be in, and sometimes, professional guidance is all that’s needed to put you back on the right path.