We all want to boost our finances and feel more in control of our money. 2020 could not be a better time to do this as there are a wealth of options that can be seriously fruitful for you. In this article, we are going to be looking at 3 excellent ways to boost your finances this year and help you get on top of them for good.
3. Ways To Boost Your Finances In 2020
1. Switch Your Bank Account
No one likes change, but when it comes to boosting your finances, change is actually a very good thing. Whilst you may be comfortable with the bank account that you have held for many years, changing it can help you reap a lot of benefits.
There are a lot of banks in the UK which offer a welcome bonus for new customers and in some cases, they will even pay you to join! In some other cases, you will also find that you will be offered a much better rate of interest on your account which is not something to be sniffed at.
Switching your bank account has never been easier with a lot of banks doing all the hard work of changing direct debits and other payments for you, so all you need to do is sit back, relax and enjoy the advantages of your new account.
2. Shop Around For Everything
In the current day and age, it couldn’t be any more simple to compare products, and this extends to pretty much anything. Your energy bills are a great example, using a price comparison site to find the best energy deal could help you in saving a lot of money. Similarly, using a website such as NowLoan where you can compare loans, will ensure you get the best bang for your buck on financial products. The list goes on, you can compare mobile phone tariffs, broadband offers, and TV packages to name a few.
If you want to boost your finances this year, taking the time to compare everything you spend money on should prove to be very lucrative.
3. Take Control Of Your Direct Debits
Many of us are guilty of setting up direct debits for things like subscription services, then forgetting about them despite no longer using the product or service.
A great way of boosting your finances is to take a look through your direct debits and cancel any which are no longer required. Do you have a gym membership that you aren’t taking advantage of? Are you ever going to use it? No? Then cancel the direct debit.
It is important to remember to also notify the service provider in order to avoid a barrage of phone calls and letters reminding you that you no longer have a payment option linked to your account. In some cases, you may be under contract so it is wise to check before cancelling the direct debit to ensure you aren’t in breach of any terms. But once you are sure, cancelling these unused subscriptions can save you a lot of money.
There are so many ways in which you can boost your finances and feel more in control. Switching your bank account to gain new benefits, comparing products, and cancelling unused direct debits are all excellent ways of giving you a boost and helping you to save money in 2020.