This free six week course from the Times money mentor will help you to save £5000 this year.
Week 1- Warm up activities: Set up a personal financial goal, do a review of your finances and spending, set up and select your budgeting strategy, complete a quick win task. As part of your review look at what’s coming in and out, any debts, any emergency savings and what long term savings/pension pots you have.
Week 2- This week is all about crunching costs through doing tasks such as cancelling unused subscriptions, comparing switching and haggling your household bills, consider savings challenges and look to tackle unhelpful habits.
Week 3- Strengthen and boost your income through completing these activities: through reviewing bank products, start a side hustle such as selling unwanted items on an online marketplace, claim benefits and allowances that you are entitled too, reclaim lost money from forgotten bank accounts.
Week 4-Cut debt through this week’s financial routine: manage debt well, consider balance transfer credit cards, get free financial help from organisations like Money Helper and Step Change, consider options if you still need to borrow like 0% purchase credit cards or personal loans.
Week 5- Protect your finances through completing these tasks: Check your insurance and see if you can save, Look at insurance including income protection, pet insurance, life insurance and travel insurance. Guard and improve your credit score, get a will and look to draw up a cohabitation agreement to protect you and your partners income.
Week 6- This week is all about pumping up your savings through activities such as maximising your savings interest rates, consider your investment options including pension contributions and overpaying on your mortgage, Select an ISA to protect your profits/savings.
You can find more information about this course here:
