Back to work reality check

The holidays are nearly over and soon it will be back to the usual (or maybe not so usual) grind. Whatever’s next for you, there’s no ignoring the fact that the cost of living is rising but salaries aren’t keeping up. Winter is coming and Christmas is closer than you think! But it’s not all doom and gloom – here are some tips to help you get MoneyFit.

 

Do a budget

It’s always a good time to look at where your money is going, so you can make it work harder for you.

Start off with our nifty little  Budget Planner – put in your income and your expenses and let it work out what you have left.

If there’s money left over, then build up an emergency fund before anything else, unless of course you have expensive debts to pay off.

If there’s not much left over

Short of winning the lottery, you’re going to have to cut back on something. So be realistic and maybe a little ruthless.

Having worked out your budget, you can see whether you’re spending too much on leisure, hobbies or subscriptions. So cut back, cancel and save.

Use that money to reduce your credit card and other debts. Try our Credit card calculator to see how quickly you could pay off your debt if you paid a bit more each month.

Think about ways to save

Even if there’s money left over, it’s still a good idea to check that you’re making the most of your money and not spending more than you need to on the necessities in life.

Compare, switch and save is a MoneyFit Mantra you can use for most expenses. So, as winter approaches, start off with your energy suppliers , then move onto your phone and insurance products. You can switch energy suppliers even if you live in SFA.

Most of us can cut our costs in this way. It takes a little bit of time, but could be well worth the effort.

Set a savings goal

Christmas is fast approaching and we all want to treat our loved ones to a memorable time with special gifts. Well the good news is you can start planning now, with our Christmas GoalSaver.

We’ve listed almost everything we think you’ll need, but you can add your own things, so give it a try and don’t keep any secrets from Santa!

Take the MoneyFit Challenge

Use the MoneyFit Challenge tool to take a look at all the financial aspects of your life. From budgeting, debt, savings, planning and protection - answer some quick, simple questions and get a smart action plan of what you need to do to get MoneyFit. It's the best way to prepare yourself for what's ahead!

More information

Are you ready for an interest rate rise?
Get MoneyFit with Armed Forces discounts
How Smart is your home?
What’s your cold weather plan?

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