Five Minute Financial Fixes
No one has enough time anymore.
We’re all busy. Too busy to see our friends; too busy to do all the things we want around the house. The busy phenomenon has become so pervasive, there’s now a thousand and one oped pieces discussing why we’re all so busy. The snake is beginning to eat its own tail because, of course, we’re all far too busy to read them.
However, there’s no doubt about the fact that we do live in a busy world, where we all have to juggle more aspects of life than we ever would have thought possible. Inevitably, some things fall by the wayside – and personal finance is usually one of the first to go. Provided you’ve got enough money coming in and your debt isn’t too high, chances are that you’re going to see personal finance as… well… that thing you’re going to deal with eventually. Someday. Just as soon as you find the time.
Now don’t worry; there’s no forthcoming lecture on how vital personal finance is and how you should definitely be finding the time to focus on it. That’s a song we’re all well and truly tired of hearing. Instead, let’s be practical about it: how can you improve your financial status in less than five minutes?
We’re going to bend the rules a bit; each of these five tasks will probably take you five minutes each. However, for less than half an hour of your time, there’s no doubt your finances could be in a better state in the aftermath. Ready, set, go.
Task #1 – Check Your Credit Report For Errors
Errors in your credit report can and do happen. The consequences of this can wreak havoc on your finances, as you will find yourself being subject to higher interest rates and potentially even refused credit. So check your report to ensure all the information being held on you is accurate. If you do find any problems, then repair.credit have some suggestions for your next steps.
Task #2 – Call Your Utilities Supplier
Ask them what your current tariff is. Ask if they have any better deals available. Ask them for details of your current electricity and gas supply usage, too – you’re going to need those for…
Task #3 – Get Quotes From Other Suppliers
Switching your supply can save you a fortune. Obtain quotes from other suppliers and then go back to your existing supplier. Ask if they can beat the quotes. If they do, great! If they don’t, then switch supply – it’s easier than you might expect.
Task #4 – Check Your Direct Debits
Go through all of the payments that go out of your bank account on a regular basis. If you’ve not done this in awhile, it’s inevitable you will stumble on something that you’re paying out for, but no longer using.
Task #5 – Actually Read Some Small Print
For insurance, particularly – but any small print that commits you to a financial payment schedule is worth reading just to be sure what you’ve signed up to. Knowledge is power, after all.
So, are you up for the challenge?