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money habits
money habits

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5 Ways To Improve Your Relationship With Money

Discover the financial gamechangers your bank account will love you for.
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Like with any relationship, the one you have with money can have its ups and downs. However, with commitment, patience and a little wisdom, you can strengthen the bond between you and your finances to help you manage your money with confidence. 

Be honest about your spending  

Do you struggle to pay off your credit card, or are you always in your overdraft? Perhaps your monthly salary never quite seems to last the entire month. That jacket bought on the spur-of-the moment, or a cheeky Deliveroo here and there can all add up without you even realising. Maybe you’re an emotional spender, buying things when you’re feeling stressed, or even as a reward. By honestly reviewing what you spend your money on – and why - you'll be able to identify what you can cut back on, saving you money in the process. 

Keep communicating 

It can be all too easy to avoid opening your bank statements, bills or messages about missed payments. However, don't ignore them, otherwise you could create an unmanageable spiral of debt. Instead keep the lines of communication open with your bank and credit card or loan providers as they may be able to help with a new payment plan or agreement, if you’re struggling. We believe it’s always better to face the fear and do it anyway! 

Set boundaries for your bucks 

Learning how to create a manageable monthly budget – and being able to stick to it – can be one of the most effective ways of setting healthy financial boundaries. A realistic budget can be a powerful tool in your financial armoury, giving you some spending structure, especially when you want to keep track of your expenses. You can find a great, free budgeting template at Stepchange.  

Make a date with your finances 

All good relationships take some work. That’s why it’s important to regularly check your financial fitness - say, once a month - to review your outgoings. By doing so, you can spot where you may be able to spend less or even postpone certain things to a more affordable time. Schedule a day in your diary just like you would for a romantic date. You could find yourself saving money rather than having to spend any! 

Build a strong financial foundation  

Becoming financially resilient for the long term can really help, especially when life throws an unexpected curveball, like a higher-than-usual bill. Maybe your focus is on building a savings pot or you want to access credit. Whether you have a poor credit rating or haven't managed your cash well in the past, it's never too late to strengthen your money habits. An easy win is to start tracking and improving your credit score – this builds trust with credit lenders and could, over time, help boost your eligibility for their products. 

To gain valuable finance tips and monitor your own personalised Stability Score to see how financially robust you are, join Creditspring’s free membership

This could be the start of a beautiful relationship, don’t you think? 

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