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Money saving tips: Achieve a ‘money makeover’ in 2022 in five key tips | Personal Finance | Finance


4.Debt
Managing debt, however big or small, is ‘essential’ when setting one’s financial goals for 2022.

Ms Conway continued: “Reducing or avoiding adding to any existing debt is something that should be made a priority when reviewing your finances.

“Prioritising is difficult when everything seems urgent. But it’s crucial to keep on top of your existing debts, like a credit card or personal loan, even if the balances are low.

“And if you do need to take out more credit, make sure you can make the required repayments and understand how much you’ll pay back and when. It’s particularly important to read your terms and conditions carefully and to do your research to help you choose a product that’s best suited to you and your situation.”

5.Set some goals

Lastly, as it’s a new year, it’s a great time to look to the year ahead and work out main goals for 2022.

By figuring out priorities, people can decide the best way to get the most out of their budget.



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