Do them now and the impact will last all year long. Best thing is to put aside a couple of hours to blitz through them all – it could save you thousands.
This year I resolve to…
1) Shop & save for next Christmas NOW
Pre-Christmas is the most expensive time to buy, January sales the cheapest, so if you can, buy now to save next Christmas. Plus put a twelfth of the cost aside each month, in a savings account and let them pay you interest (see point nine).
2) Check if I can slash £1,000s off the year’s mortgage repayments
Mortgage rates are near all-time lows. So everyone check right now if you’re on the best deal. Use www.mse.me/mortgagebestbuy or MoneyFacts.co.uk to find your cheapest rate.
Then if it looks like you can save, use a mortgage broker who’ll be able to home in on which mortgage lenders are most likely to accept you.
READ MORE: Martin Lewis: Is it cheaper to switch heating on and off or have it on low all day?
4) Finally ditch my crap bank account and earn up to £175
If you didn’t switch in 2019 and don’t regularly sing your bank’s praises you’re missing out. As it’s the start of a brand new year, many banks have a new marketing budget, and they’re willing to pay you cold hard cash to get you to switch them.
Switch to www.hsbc.co.uk’s Advance account and you’ll get £175 cash bonus, or www.firstdirect.com is now giving a £100 bonus (up from £50), and many also get a zero percent £250 overdraft. With both accounts there are min pay-ins and criteria you need to meet so do your reading before applying. Plus you get access to a 2.75 percent regular saver.
5) Cut credit card interest by £100s or £1,000s this year
The easiest way to reduce credit card debt is by shifting debt to a zero percent balance transfer card – this is where you get a new card(s) that repays debts on existing cards for you, so you owe it instead, but at a far lower cost, for a small fee.Of course acceptance is the challenge for most.
That’s now easier to find out as many cards have eligibility checkers which give your chances pre-application. Or you can see most top cards together in one place via comparison tools, such as the one on my site at www.mse.me/balancetransfer.