Family Finances: How to Get Familiar With Your Finances & Start the Year Off Right! by Amanda Condio

A surprising amount of people don’t have a clue about their personal financial position. This is shocking considering how easy it now is to check our accounts and balances. Take advantage of the technology available and download online banking apps for your standard accounts and your credit cards. This means that rather than waiting for your statements to be delivered, you can keep an eye on your purchases and payments as and when you please. 

• You will be able to monitor any money coming into your account, as well as making changes to your direct debits. 

• You can then arrange for your bills and other payments to be taken out after your payday. This makes repayments a much easier business and results in fewer fees, fines and warnings for going overdrawn. 

By checking your balances more regularly, you will also have a more complete knowledge of your current financial position. This allows you to see exactly how much you owe out to each lender and begin to make more in-depth plans to clear your debt more quickly.