New Year, New Finances

It is a well known fact that January is the longest month in the calendar year. It may only contain 31 days, the same as half of the rest of the months in the year, but somehow January is definitely longer. The days are shorter, the darkness seemingly endless; the cold no longer seems festive – it just seems cold; and worse than that, there’s no one to share a pint with as everyone is hibernating, detoxing, or broke – or all three.

It doesn’t have to be this way though. January can be a time of renewal, fresh outlook and new goals and plans, especially where your finances are concerned. With no play mates your bank balance will get a breather, allowing you time to rethink your finances and make any changes to what may have become unattractive or unviable since you last checked. It is a great time to bag a bargain on personal loans and credit cards, as many banks jump on the January sale bandwagon and offer reduced interest rates or extended deals in order to attract new business. It can be an excellent time to consolidate your Christmas debts, find a new deal or refinance existing credit card debts. You can also go further and give your household finances a winter-clean, save yourself money by switching your energy suppliers, insurance and even your mortgage if your fixed rate deal is approaching its end. You can’t do anything about the weather, but at least your finances will be in good shape to welcome in the New Year.

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