1. Reduce your bills

Staying loyal to companies actually costs you, rather than saves you money.  This can be staying loyal to an employer instead of taking new job opportunities for a higher pay or by staying loyal to your bill providers at home.

Things like your internet, phone contract, insurances and other policies should all be changed at the end of the contract so you’re able to make use of new customer deals.

If you’re continually accepting contract renewals and aren’t shopping around or changing anything then chances are you’re overpaying!

Spend a free morning running quotes through price comparison sites, see where you can get better deals and save yourself some money. It will all add up over the course of the year and is extra money in your pocket. This could be spent on debt, put into savings or just used on more exciting things. 

Here are some ways to start saving money and reduce your bills: 

• I saved £800 cashback in 2 years with Top Cashback
  
  
• Save money on your mobile phone bill with Airtime Rewards
  
  
• How to save money at every supermarket with Shopmium

Check out my website menus for even more ways!

2. Put together a new budget

Once your bills have been reduced, consider changing up your budget. This is something worth looking into at least once a year, as things can change in life and you need to prioritise the way your funds are spent. See where your money is going currently and if things need to change, if you’re overspending in one area then make an effort to cut this back.

Groceries are one place that many families spend too much- some simple meal planning and shopping to a list are easy ways to get this down.

See if you can reduce fuel costs by walking or biking more, or cut back on things like digital subscriptions if you’re not using them that often. 

Make it a priority to check your budget at least once a year and even more if you can.  As Ben and I are self-employed our income changes monthly, so we assess our budget monthly.  We pay ourselves monthly and work out a budget based on the unique amount every month. 

Try and leave some flexibility in your budget as random things might pop up.

Save money and increase your budget with these blogs posts:

• Save money with these UK Voucher Codes
  
  
• How we saved £6500 in 6 months
  
  
• 20 ways to make & save more money
  
  
• 6 easy ways to save money as a family
  
  
• 3 easy ways to save more money and increase your family’s savings balance
  
  
• How to properly manage your salary and budget throughout the month
  
  

3. Create new streams of income

Along with saving money and spending what you have wisely, to make a significant difference to your finances it’s important to make more money too. You could pick up more shifts at work or look into getting another job. You could start a home based business, build up a brand and sell in person or on social media. You could freelance or start a blog.  You could start a side hustle like matched betting.

There are lots of ways you can earn extra money, and anything you do get on the side can be saved, used for debt or spent wisely. Not only does it mean more money but you could build additional skills and have fun with it as well.

If you’re lucky, your side venture might take off and become something you can do full time.  That’s exactly what I did and you can read my ways to make money at home section to learn numerous methods to make your own income.

Here are just some of the ways you can make extra cash at home:

• How to get free money
  
  
• 5 tried and tested ways to make money as a stay at home mum
  
  
• Make money at home with Prolific
  
  
• How I earn up to £50 per hour matched betting from home
  
  
• Get paid doing simple tasks from your phone with Streetbees
  
  
• Make money online with OhMyDosh!
  
  
• Make money at home searching the web
  
  
• Get free cash with Curve
  
  
• How to make money in one hour
  
  
• Earn free gift cards with Swagbucks

 

Final thoughts 

It's so important to manage your money.  Staying on track prevents debt and overspending.  Getting your finances in order is a worthwhile resolution to make for 2020.  Our financial resolution is to pay back one out of our two loans by the end of 2020.  What will your financial resolution be?

Looking for ways to save money?  Check out my massive money-saving tips section and find some great deals on my UK voucher codes and free money pages!

Want to manage your finances better?  Here are loads of family finance tips and helpful debt articles.