Last Updated: 13/01/2017
Tags: Are Finances Keeping You Awake At Night
If lack of finances are keeping you awake at night this January you will not be alone, as according to a new study 20% of us are kept awake due to financial worries, mainly due to overspending during the Festive season. Monday 16th of January, has been coined Blue Monday, because it’s the apparently the most depressing day of the year.
One of the best ways to tackle stress and depression caused by financial issues is to tackle the problem head on, most of us will want to bury our heads in the sand, but this is the worst thing you can do, as problems not dealt with tend to manifest themselves into our sub consciousness and then come out in other ways, such as lack of confidence.
So how can you improve your finances? First of all draft out a list of all of your income and expenditure, that way you will be able to see if there is a shortfall between the two and work out a plan of how to tackle it if there is. Set yourself a budget for expenditure each month, then you will be able to differentiate better between what you need and what you want.
Take a look at your expenditure, can you cut out any monthly direct debits, such television subscriptions, magazine subscriptions and so fourth.
If you have a large sum on your credit card, which has a high interest rate, as many have, then think about taking out a cheaper loan to pay it off. Think about changing to a different bank where you could get £200 for switching.
Make sure you using the cheapest energy company for your electricity and gas, some smaller suppliers can work out cheaper, check out sites such as moneysavingexpert.com. They also have a whole list of ways in which you can save money this year.