This time of year is for reflecting on the previous 12 months, and also looking ahead to the next 12 months and what we can do to improve ourselves through little changes in our everyday life.

According to a poll1 , the top three most common New Year’s resolutions are: exercise more, lose weight and eat more healthily. We all know how important it is to look after ourselves, our bodies and mental wellbeing, but what about other aspects of our life?

In 2016, a survey found that half of people aged 35 and older stay awake worried about their finances2. Losing sleep over a prolonged period of time can impact other aspects of your life, such as your productivity levels, your moods and it can also disrupt your digestive system.

Here at PayPlan, we think that people should put more emphasis on looking after their money. After all, if you look after the pennies the pounds look after themselves!

To create a financial New Year’s resolution, write down what you want to achieve and also when by. Remember to make your goals achievable, otherwise they will feel as though you’ll never get there! Here are some ideas for financial goals and where to start:

  • Over the year, add one month’s salary to an emergency fund
  • Improve your credit score by 20 points by December 2018
  • Save enough money to pay for Christmas – (£20 per month January to December)
  • End the month on a zero balance rather than relying on overdraft

You can have as many or as few goals as you want, as long as they are achievable! Once you’ve written them down you need to review them regularly, for example once a month. By reviewing them, you’re reminding yourself of what you’re trying to achieve and this will help keep you focused.

Here at PayPlan, we understand that the unexpected can happen, and can have an impact on your finances. This is why it is important to have a rainy day fund, for those unforeseen events. For example, your washing machine breaking down before payday, or being off work sick without any pay.

If you’re starting 2018 worried about your finances, give PayPlan a call to get some free, no obligation debt advice on 0800 716 239 or visit

We’d love to hear about your ideas for New Year’s resolutions! Tell us over on our Facebook and Twitter pages.

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