Find out how setting clear financial goals for the new year can help you take control of your money and build a more secure future.
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00:00Are you looking to boost your finances in the year ahead?
00:04Whether it's saving for a dream holiday or planning for early retirement, defining clear
00:08financial goals is the first step towards success, according to the experts.
00:13One of the most crucial steps is tackling debt.
00:16Around 3 million people rely on overdrafts or credit to manage household bills, according
00:20to StepChange.
00:21Once debts are under control, focus on building an emergency savings fund.
00:26Other systems include the 50-30-20 rule, which allocates 50% of income to needs, 30% to wants
00:32and 20% to savings.
00:34If the cost of living has stretched your budget, think about asking for a pay rise.
00:38Prepare your case by highlighting achievements, additional responsibilities and qualifications.
00:44Reviewing contract changes can also free up funds.
00:47Many providers are set to increase broadband and mobile fees in 2025.
00:51Switching to better deals or negotiating with current providers can help mitigate some of
00:55these costs.
00:56And finally, in life, spending is inevitable, so when you do, do it smarter.
01:00Are you making the most of loyalty schemes, coupons and discounts?