No one really talks about finance. It’s all a bit taboo really, isn’t it? Hush hush because wages, outgoings and expenditure are all a little personal. And because of this, sometimes we can get in a little pickle that could be avoided if we all just spoke openly about finances.
I DESPISE going to the bank. I hate entering my card into the machine, knowing full well the clerk behind the glass can see all my accounts, the negatives and plus’s too! Oh Crap, she probably things I’m shite with money and will take back my card to stop me spending.
Apparently, I’m not half as bad as I thought. In fact, I’m one of those considered to be bloody good with it – pah!
Anyway, my point is, without really discussing or speaking out about finances, you can be a little in the dark as to how to keep a hold and manage yours effectively.
This last month, I have been really trying to grapple a hold of ours. The last 18 months have been wedding wedding wedding. With the sudden flow of cash that is no longer labelled wedding, I thought it best to forward plan.
So what did I do this month? Here are the 5 steps I’ve undertaken to grab the financial bull by its horns!
Start a joint bank savings account
Hey, married life has its perks. Like a joint savings account! This was something we should have done agesss ago upon moving in together, but having to go and change my name gave us a good opportunity to do this too. We stuck with our current bank ( we are both at the same bank thank Christ ) and got the highest interest earning account. We have both made sure we have mobile access to the account too for those quick transfers.
Switched to a reward account
Many banks offer these accounts and it had been something I had breifly considered. However after adding up the figures, it was well worth the switch.
My reward account will essentially give me cash back for all of the direct debits for utility bills and those alike that come out of my account. Surely enough, the small rewards will add up monthly and will equate to a nifty wad of cash at the end of the year to splurge on what we wish – wahoo! Definatly worth a look!
Set up Direct debits for savings
Since we had sorted our accounts out, the next step was to set up direct debits and standing orders from each account to our savings. Like mentioned, we haven’t really had the ability to save prior to the wedding, other than for the wedding. We want to make sure we are putting away each month, so what better way than setting up an automatic transfer.
Overpay on our mortgage
This is something we have been considering for a fair while, and since we have the abiltity to do so, I have set up overpayments for our mortgage. Since we are unaware of the impact Brexit will have on the property market or property prices, I would prefer to take advantage of the low rates and build more equity in our currenty property.
Are you taking any financial steps this time of year?
Do you like seeing these kind of posts on my blog?
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