Published: 29/12/2021

New Year's financial resolutions

Here we have some tips to help you make and keep your New Year’s financial resolutions from 1Plus1guarantor loans 2022 is the year to sort out your finances.

1. Sort your debt out!

Spent too much? Carried away with your Christmas spending and in debt? Now’s time to sort that debt out.

Credit card balances built up? Paying a hefty rate of interest? You could try to transfer those balances over to a 0% balance transfer credit card.

If you can’t do that and you have a family member or friend who is prepared to act as a guarantor, a guarantor loan from 1Plus1 Guarantor loans may be a solution.

If you’re interested in a 1Plus1 Loan, give us a call on 0330 1200 313 and one of our friendly staff will be happy to discuss the process with you, or start your application here.

As we are responsible lenders, a guarantor loan is subject to both you and your guarantor passing our affordability and credit worthiness assessments.

2. Start a savings habit

In the New Year money can be tight, so saving regularly can be difficult. If you work out a budget and make some cutbacks, you’ll find it much easier.

If you aren’t working from home, take your own packed lunch to work rather than buying one every day. End that gym membership you’ve been paying each month.

Set a realistic target you can stick too. Even a small amount each month soon adds up. Telling yourself you’ll start saving half of your salary each month is likely to be impossible.

Once you’ve done this, it’s important to choose a suitable savings account to put all of that extra money into.

3. Lower your food bill

Save some pounds around the hips and start cutting those food bills!

Drop the big brands and go for supermarket own brands, buy from deep discounters and plan ahead, is better than impulse buying and can save pounds on your bills.

You can also check out how to save money on your groceries with these tips to cut your grocery bills and keep an eye on the weekly supermarket deals that will help you spot where the best bargains are to be found.

4. Save on your car costs

Reduce your car costs in 2022. Filling up with petrol each week can hurt your purse or wallet! To save money, try to avoid using your car wherever possible and walk or cycle instead. If you need to use your car fairly regularly, there are still lots of things you can do to keep the costs down. Check out how to find the best fuel prices near you.

Maybe a new more efficient car would help? A guarantor loan with 1Plus1 Guarantor Loans could be the answer.

5. Retirement planning

It’s easy to forget to plan ahead and prepare, especially when times are tight. The earlier you start, the better off you’ll be when you do retire.

Don’t put off starting your pension any longer. If you’ve already started contributing, try to increase your contributions in 2022.

If you’d prefer not to use a pension and are planning to rely on your ISAs or property instead, don’t leave it too late.

6. Cut your energy bills

Lots of us pay far more for our energy bills than we need to especially now! Make sure you shop around using comparison sites and switch to a better deal.

7. Earn rewards

You don’t always have to cut back to improve your finances. So, our final New Year’s resolution is about being rewarded for your spending. But don’t spend to save!

Every time you shop online, make sure you use a cashback website such as Quidco or TopCashback.

Whether you’re shopping online or on the high street, it’s a good idea to use a rewards credit card. Just make sure you can afford to pay off the bill in full each month to avoid getting high interest charges. 

Happy New Financial Year from 1Plus1 Guarantor loans.