While we’re all keen to see the end of 2020, making plans for 2021 could really seal the deal for it being your year. With savings still to be had, investments to be made and hopefully a little more freedom ahead, make 2021 a success for your finances and your own peace of mind.
Making some tweaks to the way you save could really change how the course of 2021 goes. Online banking is a great way to track where your spending goes and what you could cut back on. Banks like Monzo and Starling are great ways to keep an eye on your finances and really get a picture of how much you could save. If you own a business you can even use business online banking to track your company’s expenditure from a simple app. Most personal online banking apps also allow you to create saving pots and even lifetime ISAs that deliver on top interest rates that could seriously boost your savings.
A piece of property
One of the best places you can always put your money is property. And while you may be thinking it’s not that easy to just buy a property these days, that’s where schemes such as shared ownership come in. Shared Ownership essentially allows you to buy a share in a property with a super low mortgage and an even smaller deposit. This means not only can you get on the property ladder with less savings but you don’t have to wait till 2025 to boost your credit score to maximum effect and rack up an idealist pot of savings. Many of Shared Ownership properties are in some of the most sought after or up coming areas in and around London making them a great way to invest your cash and watch your property accumulate equity while putting in very little effort. You can browse these homes in West London at connectwithhome.co.uk and should you fancy a seamless step by step process to snatch up a shared ownership home propertybooking.co.uk is the place to be. If there’s anything we need in 2021 it’s a good long break and a bit of distress.
We all know Knowledge is power and your credit score is no different. Keeping an eye on your credit score could really make a difference to what you can invest your money in, in 2021. With trackers out there like Credit Karma, Noddle and Money Supermarket you can keep an eye on those numbers and also get advice on how to boost your credit. Adding your details in terms of employment status and direct debits can also help boost your credit each more and prove to those computers you’re well worth trusting. A good credit score is often the key to making smart money decisions and unlocking investment opportunities from property to business loans. So while you may track your steps, your calories, your sleep and even the money you spend on petrol per month, don’t forget your credit score! I could make a big difference to the doors open to you in 2021.
However this year may have played out for you, get to grips with your finances could really make 2021 a lot easier. And while its not hard to beat the car crash that 2020 has been for many of us, looking forward to a fresh start with a sprinkle of optimism is something we could all do with going into the new year.