Prosperis' top ten financial new year's resolutions

March 6th 2008

Mark Chandler, one of the directors’ of Prosperis Limited, gives his top ten tips for financial security in 2008:

1. Draw up a financial plan for the year. Make sure you include accurate income and outgoing information in order to realistically budget for financial objectives.

2. Pay off Credit and store cards - these are an expensive way to borrow money if not cleared quickly.

3. Check your mortgage is at a competitive rate. If you are tied into a fixed period, then diary two months before the expiry and shop around.

4. Put dates in your diary for general insurance renewals at least a month before expiry, and check out the competitiveness of your current insurer. Make sure the cover is at least at the same level as your current policy.

5. If you do decide to buy goods by hire purchase, shop around for the best deal you can find.

6. Review your life assurance arrangements and ensure they are sufficient to bring peace of mind to you and your loved ones.

7. Put all regular bills on direct debit - this avoids any late payment fines where you have simply forgotten to make a minimum payment.

8. Check out www.uswitch.com and see if you can save money with a different utility provider. 

9. Review your pension arrangements to ensure you are on track for the retirement you deserve. Better still appoint, an IFA who can undertake the review and provide independent investment advice.

10.  Check out the FSA’s Money Made Clear website which provides information and tools to ensure that you make the most of your money in 2008 and beyond.