**This post may contain affiliate links.
“New year, new me!” How many of us have uttered those words before? While it’s great to feel motivated in January for a year better than last, putting that into practice for all 365 days is hard work.
Organising finances is something many of us do at the start of the year. It’s the best time to do it, too. If you set yourself up well in January, it can have a ripple effect for the whole year. Now is the time to sort your PPI Claims, open that savings account and declutter your home to sell old stuff for extra cash.
There are a few ways to bring in cash when needed. But, we’ve listed three of the very best ways — from saving just a penny, to making a PPI claim — to to get organised with your finances and long-term solutions for the whole year.
- Start Saving — Whatever Way Works Best
Not everyone is good at saving. For those on lower incomes, it can be hard to put away £50 or more each month. The key to saving is to start small and do it in easy, manageable chunks.
Have you heard of the 1p money challenge? This is a great way to save and it’s such small increments that everyone should be able to do it. By the end of the year, you’ll have saved over £600. On the first day of saving, you save 1p, on the second day, 2p, on the third day, 3p — you get the idea.
Even if you start late, you could put in pennies from the days you’ve missed, or, just start from whatever day you can. That £600 at the end of the year will be so useful for Christmas.
- Make PPI Claims Before it’s Too Late
Have you heard Arnold Schwarzenegger yelling people to “do it now?” That’s because all payment protection insurance claims must be made before August 2019. You’ll no longer receive cold calls from companies or hear the adverts on TV. But, it’s imperative to make a claim within plenty of time before the deadline.
Many people have claimed thousands of pounds and not even been aware that they bought the insurance in the first place. Now is the time to dig out that paperwork and use a PPI calculator to estimate how much you could be owed.
A PPI claim could be a huge cash boost to help you throughout the year. A PPI claim can take up to six months to complete, so start now and enjoy the financial benefits later in the year if your claim is a success.
- Check the Best Current Accounts and Credit Cards
With so many banks and credit cards on the market, the competition is high. Each bank is eager for your custom and will offer some pretty incredible deals to entice you. From giving you £100 to swap and top-ups for staying longer than a year, you could receive some instant benefits. Switching your current account has never been easier, so there’s no excuse not to be getting more money!
The same is true of credit cards. If your 0% interest deal expired on a previous card, now is the time to switch. Better yet, switch to a provider that gives you the most personal benefits. Love shopping at M&S? An M&S credit card allows you to reap the benefits in store. Look at what else is out there and you’ll be sure to find something that suits you.
These three tools will vary with the amount of money that you can receive. But, whether it’s a few thousand pounds from PPI claims or £600 in pennies at the end of the year, you’ll be grateful. If it goes well this year, be sure to try again in 2019!
Thanks for stopping by today, I hope you have found these tips useful for improving your 2018 finances.
*This is a collaborative post