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Happy New Year 2020.
Mow that is a New Year a lot is going to start to change again and the one thing that everyone need to do is to try and keep up to date with those changes.
You can not really afford to have a NIMBY attitude because you just never know if those changes may effect you.
Saving is one thing that people will be looking at again this year but with banks offer no really incentive to save what could one really do with their money?
Most people who are young are probably already feel the financial burden with very little in the way of a steady income so saving g is not something most people can do.
Most people are on the bread line living hand to mouth, pay check to pay check so what should one do?
Their ate a few money saving tips out there like collect all your pennies and put them in a jar for a year.
You could collect all your 20p's, 50p's or £2.00 coins too.
If you have children open up a child account the interest is still hight for childrens saving than adults.
Open up an ISA, credit Union look at stocks and shares too.
You could set a budget of how much to save each month and keep it in a jar in the house or buy something that may go up in valve in the future.
The list is endless.
But one thing that I believe people need to do is look at their budget for each month and try to avoid using overdrafts, pay day loan companies, buying things on PH.
This is easier said than done due to some if these things helping to build up your credit rating for things like applying for a mortgage but one thing that you want to try and avoid is getting into debt in 2020.
If you are already in debt you need to aim to be out of it by 2021 and use reportable support like debt line to achieve this.
If you go on MSE or Debt line or YouGov website information can be available to support you even the CAB could help.
With universal Credit Rolling in still people will be struggling and with you only allowed to have £6,000. In savings to qualify people will struggle.
Before applying for any benefits in the new year seek advice first.
Set up a budget plan and make sure that you have enough financial aid for at least 6months before applying that way you should be able to surport your self whilst the claim goes through.
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