Hello everyone and welcome to day 2 of fix your finances! One of the main aims of these series of posts was to make it the simplest straight forward process possible so that everybody can stick to it. So yesterday we started with budgeting, giving everyone and idea of their monthly expenditure and how much disposable income they may have, so the focus for the next few days is going to be cutting that expenditure, so here it goes…
Day 2 – fix your finances: Cutting your direct debits
If I checked your bank statements, how many direct debits do you think I would find coming out of your bank on a regular basis? I am sure the answer would be quite a lot, so today we will be looking into cutting these direct debits and will hopefully save you some money, by completing the following 3 steps:
Step 1 – Get searching for those direct debits
This can be done by either:
- Digging out the last 6 of your bank statements
- Logging onto your internet banking
- Ringing up your telephone banking service
Now find any direct debits you may have and write them all down, sometimes banks make this easier for you by putting them in a separate section so remember to look carefully.
Step 2 – Do you really need them?
So now that you have done that you can go down the list and ask yourself two questions:
- Do you really NEED the direct debit?
- Do you think your paying the cheapest price on the market?
If you answer no to either of these questions then you need to take action…
Step 3 – Take action
The key to saving money in this post is by taking action! If you answered no to question 1, get cancelling the direct debit instantly. Usually this will involve ringing up or putting it in writing, why not do it now? If you think you need the direct debit but believe you can get it cheaper elsewhere, take action and get finding a cheaper price!
I hope you have found today’s post useful, it would be great to hear how you get on and how much money you manage to save, see you tomorrow for day 3 of fix your finances : )
Hello everyone and welcome to day 2 of fix your finances! One of the main aims of these series of posts was to make it the simplest straight forward process possible so that everybody can stick to it. So yesterday we started with budgeting, giving everyone and idea of their monthly expenditure and how much disposable income they may have, so the focus for the next few days is going to be cutting that expenditure, so here it goes…
Day 2 – Cutting your direct debits
If I checked your bank statements, how many direct debits do you think I would find coming out of your bank on a regular basis? I am sure the answer would be quite a lot, so today we will be looking into these direct debits and hopefully saving you some money, by completing the following 3 steps:
Step 1 – Get searching for those direct debits
This can be done by either:
- Digging out the last 6 of your bank statements
- Logging onto your internet banking
- Ringing up your telephone banking service
Now find any direct debits you may have and write them all down, sometimes banks make this easier for you by putting them in a separate section so remember to look carefully.
Step 2 – Do you really need them?
So now that you have done that you can go down the list and ask yourself two questions:
1. Do you really NEED the direct debit?
2. Do you think your paying the cheapest price on the market?
If you answer no to either of these questions then you need to take action…
Step 3 – Take action
The key to saving money in this post is by taking action! If you answered no to question 1, get cancelling the direct debit instantly. Usually this will involve ringing up or putting it in writing, you are nearly there so don’t give up now. If you think you need the direct debit but believe you can get it cheaper elsewhere, take action and get finding a cheaper price!
I hope you have found today’s post useful, it would be great to hear how you get on and how much money you manage to save, see you tomorrow for day 3 of fix your finances : )
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