2020 is only a matter of weeks away, and while everyone is no doubt busy preparing for Christmas and New Year, it’s essential to get your finances in order as we leave 2019. Being able to plan and manage your budget from the off in 2020 will give you a fantastic head start, as well as a positive outlook for the year ahead.
One of the first things you should do when you’re looking to plan and manage a budget is to assess your current situation. Do a complete review of your finances and work out what’s going out, what’s coming in, where there’s room for improvement, and whether there have been changes to critical components such as household income, bills, debt and savings.
When you’ve conducted your financial review, look ahead to 2020 and draw up a plan for the year ahead. While some things will remain unpredictable, there will be fixed expenses and income, and this will allow you to put together a budget. If changes are to be made to the budget, now is the time to do so, before the end of this current year, which can be crucial.
For the more tech-savvy, there is a range of apps out there which can help in this situation. Whether you’re using an iOS or Android-based device, you’ll be able to download and install apps which will not only help you get your finances in order but ones which can help you plan, budget and even automatically save money. Furthermore, there should be some consideration given to cryptocurrencies, with the benefits of having a Luno Bitcoin wallet making a substantial difference in terms of security and convenience.
It’s always worth doing a quick credit check at this point too, something which is free online. It will give you a fantastic indication of where credit reference agencies think you are on the scale of being responsible with money. It’s a crucial tool, especially if you plan on obtaining finance throughout 2020.
Getting your finances in order and planning a budget that you can manage ahead of 2020 is crucial, but it can undoubtedly be tricky. A lot of frustration can arise, and a lot of time can be spent on this, but luckily there’s help on hand. There are various organisations out there which can offer independent financial advice. While there may be a fee involved, it will lead to less hassle and stress and more peace of mind as you leave it in the hands of the experts.
Whichever way you go about reviewing your finances and planning for 2020, make sure you’re thorough and as accurate as possible. Find which methods work best for you, be it completing everything yourself of asking for the help of others. Apps can be a godsend in this situation too, as they will allow you to do things on the fly and whenever it’s convenient. And if they help you perhaps pay off some debts and save money, even better, as when an unexpected outgoing arises, you’ll be well prepared.