5 Foolproof ways to organise your personal finances in 2018

5 Foolproof ways to organise your personal finances in 2018

The gloom of January is almost over, and the New Year is in full swing. Have you stuck to your resolutions? After the festive expenses, have you aspired to clean up your personal finances and rebuild your bank account?

We’ve created five tried and tested techniques to give yourself some financial breathing space.

organise personal finances

1. Undergo a financial MOT

Whilst you economically recover from the nonstop spending over Christmas and New Year, you might find yourself on the sofa, rather than the pub. This is the perfect time to analyse your financial accounts and tweak any unnecessary costings.

Are you paying a direct debit you’ve forgotten about? Is your investment account performing? Do you have multiple pension policies that may benefit from being unified into one pot? Would you profit from paying more into a savings account this year?

Once the audit is complete, you may discover that you have freed up some extra money.

2. Clean the financial debris

Before you begin to save anything, it is always advisable to pay off any outstanding debts. Ignoring or neglecting your debts will only drag down your finances and create difficulty progressing.

By cleaning your financial slate, you are able to move onto planning your goals.

3. Mark your GOAL posts

By setting yourself financial goals, you will find the motivation to spend wisely and save. Targets which are built around your earnings can help to keep your wallet healthy.

Ensure the goals are realistic and not over-ambitious. This will help you to achieve your targets, stay focused and keep your personal finances in order.

If you have a particular goal in mind, such as a holiday, new car or moving house, print off a picture and stick it on the fridge. The visual reminder will help you to stay diligent in accomplishing your financial goals

4. Earn extra cash

Although it sounds obvious, earning more money means more cash to spend. Do you have anything around the house that might be of value? Any unused phones, DVD’s, CD’s, clothes, anything that could be worth something. These can be sold for reasonable prices online or at city shops.

You might fancy gaining some extra part-time employment. Another job will generate a new source of income and ease the reliance on your current role.

You even find some money making opportunities online, such as partaking in surveys.

5. Check the forecast

Setting up a rainy day fund helps to safeguard yourself for unexpected bills, fines or even loss of employment. Nobody wants to be on the receiving end of those unforeseen setbacks, but it’s always handy to have an emergency pot, just in case.

By setting aside a modest amount each moth, you will cash to fall back on.

Our secret recommendation

Our final bit of advice would be to discover whether or not you are owed any unclaimed money. Sources verify that there could be up to £77 BILLION of unclaimed funds owed to the UK citizens. Some of this cash could belong to you and you can find out for FREE at monimine.com.

Josh Cousens – Monimine. 

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UK government to use £330m from dormant accounts to combat homelessness

UK government to use £330m from dormant accounts to combat homelessness

Millions of pounds from dormant bank and building society accounts have been earmarked to tackle homelessness and aid vulnerable young people in England. This action has been taken by the government to create a “fairer society.”

dormant accounts money to help homeless

Tracey Crouch, minister for sport and civil society says that the money will help to make a real difference.

“This is part of the government’s commitment to building a fairer society and tackling the social injustices that hold people back from achieving their full potential.” 

The unclaimed money will be taken from personal financial accounts that have been inactive and untouched for at least 15 years. Financial institutions will have unsuccessfully attempted to trace the owners of these accounts and contact will have been lost.

Using financial assets from UK dormant accounts to fund charitable causes was first demonstrated in 2008. The Dormant Bank and Building Society Accounts Act was passed in 2008 under Gordon Brown. This law authorised, ‘the distribution of assets from cash accounts that have been inactive for fifteen years.’ 

Over the next four years, £135m has been allocated for homeless housing initiatives and on social enterprises and local charities. An additional £90m is promised to help disadvantaged young people into employment. Whilst a further £55m will be spent on tackling problem debt and aiding ‘financial inclusion initiatives.’

The remaining £50m has been designated to the developed administrations of Scotland, Wales and Northern Ireland.

Good News

If you think that you may have lost contact with one of your financial accounts, you don’t have to worry. Although this money may be put towards homeless initiatives, you are still able to reclaim any money which is rightfully yours.

The Reclaim Fund are the organisation that is used to recover money from dormant UK accounts. Their chief executive, Adrian Smith said;

We will continue to work hard in ensuring that consumers can at any time reclaim money owed from their dormant accounts while working with the government to deliver further funds for good causes.”

The Reclaim Fund are required to retain a chunk of their money in order to repay any account holders who come forward to claim their cash.

If you are interested in discovering whether you are owed any unclaimed money from a dormant account, we can help. By registering for FREE at monimine.com, we can help you determine whether you are the owner of any outstanding assets.

Josh Cousens – Monimine. 

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Top-up your New Year finances with unclaimed money

Top-up your New Year finances with unclaimed money

The Christmas and New Year celebrations are not cheap. Parties, presents and 2017’s hangover will undoubtedly be weighty on your finances. I’m willing to guess that any ways of boosting your bank account will sound very appealing. Particularly if you don’t have to pay a penny. We have a solution – unclaimed money.

New Year unclaimed money

A quote taken from Helen Coulson in the Financial Times revealed that, “we seem to be talking about some billions, if not trillions, of pounds [of unclaimed assets] across the industry, but nobody really knows what the size of the problem is.”

This gigantic sum of unclaimed money has been lost in the financial system. This occurs when one of the financial service industry loses contact with their customers. If they cannot communicate with their clients, any cash within that particular financial account becomes trapped.

Are you thinking this could have never happened to you? It is a lot more common than you think. The predictions of £billions/£trillions of unclaimed money demonstrates that there has to be more than a few people who have lost money.

Something simple, such as moving house or changing surname can be the catalyst for lost funds. If you forget to notify your bank account or pension provider of your new address or name, and they subsequently lose the ability to contact you, cash can easily go missing.

The Solution.

Throughout the UK, we predict millions of unclaimed money pots are waiting to be claimed. Some may contain modest quantities, but some could enclose a fortune. Monimine’s website allows you to search for any lost assets, for FREE.  If your records match with the data of unclaimed funds from a financial institution, you will be united with the cash that is rightfully yours.

So what do you have to lose?

Start your search today, boost your New Year finances and discover your unclaimed money treasure.

www.monimine.com

Josh Cousens – Monimine. 

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