Get financially fit in 2024

Time for “New year, new me”? MCU has a few finance fitness tips and tricks to help you manage your money better this year and stick to those financial new years resolutions.

We are an ethical service with a dedicated team ready and waiting to help you reach your goals and stay on track. Keep reading and make that first step towards greater financial shape in 2024…

Step 1: Use an online budget planner

Get better control and understanding of your household spending with the free online Money Helper budget planner.

Before you get started, grab as much information (bank statements and bills) as you can. This is a good time to have a sort-out too. Failing to prepare is preparing to fail! Piles of paperwork can be overwhelming, filing your important documents makes life much easier when looking at your finances. So find a system that suits you. You’ll thank yourself later!

Step 2: Start saving, no matter how small

Gains without the pains! Get into a saving routine. We understand that it’s difficult to put away money right now, but by saving what you can, when you can,  you’ll be starting a great savings habit. Slow and steady wins the race!

Are you an employee of one of our BEESMART employers? Did you know you can save or repay a low interest loan through your payroll each month.

Step 3: Deal with debts

Don't start on Monday, start now! Dealing with debts early is key. The free debt advice service from government back MoneyHelper could help you with this stress and worry.  You will find information about you and your creditors rights when struggling with debt. Talk to us about your debt and we will provide you with all of the help we can… it’s never too late to start.

Step 4: Switch suppliers

Make positive changes! you may think it’s easier to stay with what you know than switch, but you could be saving money every month by switching your phone or energy supplier.

Compare deals for utility bills by visiting uswitch or the Martin Lewis Cheap Energy Club.

Racking up phone bills? Compare the latest mobile phone tariffs via MoneySuperMarket.

Look at your current subscriptions and see if you can “trim the fat” by cancelling any unwanted services.

Step 5: Improve your credit

It’s good to be aware of the factors that can negatively impact your credit. Help to improve your score by maintaining timely payments on debt and ensuring you’re on the electoral roll.

Learn what can help to build your score via Experian.

Step 6: Look out for everyday savings and help

Get searching for deals and discounts that will benefit and bulk up your bank account.

• Check which benefits you are entitled to using this easy tool
• Check if you’re eligible for a discounted broadband tariff (you’re likely to be eligible if you receive a means-tested benefit, such as universal credit or pension credit)
• Check which supermarket is cheapest every month - in February 2024, Aldi took the crown with a list of 72 popular groceries costing on average £125.43
• Compare fuel prices before you fill up
• Don’t automatically renew your insurance policies, shop around or talk to your provider

At MCU were committed to helping you get your finances in shape this year, talk to us to start your journey!