Money management is “common sense”

Keeping a record of ingoings and outgoings can help people stick to their new year budget, according to the Fair Investment Company.

The firm claims that finding the most competitive deal on energy providers, credit cards and mobile phone contractors are all effective ways of managing a tighter household budget.

“Most money-saving is down to common sense,” said director of the firm James Caldwell.

“The less you spend, the further you can stretch your finances; however there are some simple steps to take to ensure you make the most of your money,” he added.

Switching credit cards and taking advantage of zero per cent balance transfer offers can give people more time to sort out their borrowings, Mr Caldwell advised.

However, it is important to be aware of how much interest a credit card charges once the introductory offers are over, he warned.

Debt counselling service Thomas Charles recently claimed that new year is psychologically the most optimum time to sort out finances.

© Adfero Ltd

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