Six smart tips to get your finances back on track in February
IF your finances took a hit in January, now is the time to get back on track.
Get into the habit of saving little and often with these tips.
TARGET STORY: Define your savings goals and be specific. Maybe you want to save a certain amount or enough for a family vacation.
Create a vision board with images of what you are saving for and review it daily. This will keep you motivated so you can achieve those goals.
TRACK RELEASES: The easiest way is to write down in a notebook what you spend for a month.
You can also do this by downloading a free Microsoft budget template or using the Snoop app. Link the app to your bank account and your expenses will be categorized.
READ MORE MONEY SAVING TIPS
SET A BUDGET: Once you know your income and expenses, you can see what's essential and what's not, then set a budget for categories like food, entertainment, and transportation.
By setting a monthly amount per area, you are more likely to stick to it.
TRIM THE BILL: Use the short month of February to cut back on non-essentials. Pause a streaming service or consider whether you really need Amazon Prime.
Add the money to your savings. One takeaway meal of €20 less per month can save you up to €240 per year.
AUTOMATIC SAVE: Implement an automatic transfer to your savings account every month, using a “pay yourself first” mentality. Try a savings round-up feature, available at most banks, so you can automatically save a little every time you spend money.
For example, if you spend €4.50, this will be rounded up to €5 and the extra €50 will go towards your savings. Chase Bank offers this, and you can earn 5 percent AER on savings.
INTEREST COUNTS: Take full advantage of savings accounts with a high interest rate.
Currently, NatWest customers can save £1 to £150 per month on a Digital Saver account and earn 6.17 per cent AER interest on up to £5,000.
- All prices on the page are correct at the time of going to press. Offers and offers subject to availability.
Deal of the day
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VIEW programs on the Samsung Galaxy Tab S9 11in 128GB tablet.
Normally priced at £799, it's now £679 – and you get 12 months of Disney Plus for free at ao.com.
TO RESCUE: £120
Cheap treat
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Enjoy a Dairy Milk Pot of Joy. A four-pack, which cost £2.69, now costs £1.50 at Morrisons.
TO RESCUE: £1.19
What's new?
SKIP the coffee shop and try Kenco's new plant-based range at home. Buy a six-pack of almond lattes for £1.90 from Sainsbury's. It works out to just under 32 cents per cup.
Great exchange
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Slip into a pair of Tasman Uggs for £100. Or buy a similar style for £21 at ego.co.uk.
TO RESCUE: £79
Little helper
Make the most of B&Q's huge kitchen and bathroom sale before it ends tomorrow.
Get up to 25 percent off kitchen cabinets and bathroom suites.
PLAY NOW AND WIN £200
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Join thousands of readers taking part in The Sun Raffle.
Every month we give away £100 to 250 lucky readers. Whether you're saving or just need some extra cash, The Sun can help.
Each Sun Savers code entered equals one raffle ticket.
The more codes you enter, the more tickets