Finance expert Sinead Ryan joins Lunchtime Live to share her top tips for getting on the road to financial freedom in 2022.
To help kickstart your year of good financial habits, Lunchtime Live has welcomed financial expert and presenter of The Home Show, Sinead Ryan, to talk about all-things personal finance.There could be value in overpaying your mortgage For example, the well-known Boots Advantage Card is a loyalty scheme that offers good value and savings for consumers. Whereas, a coffee shop offering one free coffee after you've already bought ten others isn't actually great value because you have to spend significantly more than the cost of the single free coffee to be entitled to it.is to not be loyal at all and join every scheme relevant to you and where you spend your money.
One of the most common examples of bad debt is credit cards. You can be charged high interest on credit card purchases and most people are only making the minimum monthly repayments. By simply paying more than the minimum requirement each month, you could free yourself of this bad debt much quicker. On top of managing debt, budgeting is important when it comes to financial security. Sinead suggests sitting down and categorising your outgoings at the beginning of the year or each month so you can get a clearer picture of just how much you have going out and what your true disposable income is.
Walking around money: This is the money you spend every week on things like groceries, transport, coffees, etc. You should get an average for this type of spending by reviewing a weekly or monthly bank statement.
ISIbackontrack Great having advice on how to save money.. Shame all programmes are vigorously pushing a new daily gamble, capitalising on popularity of top presenters
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