Today the UK goes back into lockdown. And while there aren’t many positives about being in lockdown, the extra time we’re spending at home does mean we have more opportunities to sit with our finances.
Over the next couple of weeks, work your way through these financial tasks, and set yourself up nicely for a more financially free 2021.
1. Compare and Switch Energy
The more time you spend at home, the more energy you’re going to be using each day. That’s why the first in our list of financial tasks is to compare and switch your energy plan.
Combat high consumption by comparing all the energy deals on Emma. Find a deal that suits you, and you might find that you can cut your bills by hundreds of pounds a year.
Head to the Save Money tab and click on “Save On Your Bills” to start comparing prices now.
2. Get The Right Broadband Deal
Have you experienced any connectivity issues during lockdown? Not happy with your internet speed now you’re working from home? Maybe having the whole household inside using the wifi for most of the day is causing you a headache?
Now is the time to take action. Visit the Save Money tab and in as little as two minutes you could switch to a better broadband deal. You might even find an offer that reduces your broadband bill by hundreds of pounds!
3. Reconsider How Much Mobile Data You Need
Staying at home for the majority of the day also means we’re using a lot less mobile data.
Next up on your list of financial tasks is to review how much data you’re currently using each month. If it’s way below your data allowance then use Emma to search for a cheaper plan.
We have access to deals from top providers like EE, Three, Vodafone and O2, and have plans starting from as little as £4 a month.
4. Readjust Your Budget
Many people find that they spend less money in lockdown. If this sounds like you, it could be a good idea to spend some time reconsidering how you want to manage your money.
You might find yourself wanting to put more money into a savings account. You might consider adding more to your investment portfolio. Or, you might just decide to allocate more money towards groceries as you find yourself wanting nicer home cooked meals.
Whatever you choose, readjusting your budget for the lockdown period will mean you don’t overspend.
Complete this financial task by using the budgeting feature in Emma. Then track your spending each week to make sure you keep within your monthly budget.
5. Start Investing
If you’re finding that you do have some extra money at the moment, but the news about negative/ low interest rates are putting you off savings accounts, then why not use your time in lockdown to learn more about investing?
We have a couple of really great guides on the Emma blog that talk you through common investing FAQs like why you should invest, what investment risk is, how you can invest, and investment tips for beginners.
With Wealthsimple you get the first £1,000 without any fees. With Nutmeg, Emma customers can open a globally diversified portfolio and pay no management fees for six months! And, with Etoro, you get 100% stocks, with 0% commission!
6. Finally Sort Out Your Pension
It’s extremely easy to forget about your pension. After all, that’s money that you’re not going to need for years to come. BUT, sorting out your pension early is crucial to a stress-free retirement.
If you’ve worked at multiple companies during your career, services like PensionBee help to combine your old pensions into one simple low-fee plan.
Sign up through Emma and you’ll be able to see your pension in the app, helping you to better understand how much you’ve saved for later life.
7. Create A Will
We don’t want to come across too morbid, but there’s never been a better time to think about creating a will. A will is the only way to ensure that the people you choose will receive what you want them to, in the event of your death.
A lot of people put off getting a will because they simply don’t know how to go about getting one. We’ve teamed up with Farewill – a company that is changing the way people get wills, by offering simple and affordable digital wills that can be updated at any time.
Buying a Farewill digital will through Emma will give you a 20% discount on your order. £10 will also be deposited straight into your Emma account. All you need to do is enter the code “Emma-20” at the checkout to redeem the offer.
8. Improve Your Financial Literacy
Knowing what’s going to happen in the financial world can really help you manage your money. Use the time spent in lockdown to read books about money. Listen to podcasts with money experts. Even follow financial bloggers on Instagram.
Or, learn the finance basics by reading Emma’s helpful guides below.
9. Treat Yourself With Special Rewards
We’ve saved one of the nicer financial tasks until last!
If you’ve followed the above steps, you could have saved hundreds of pounds on your energy, broadband, and SIM-only deals, so it’s only fair that you now treat yourself to a little something.
Emma works with tonnes of brands to give you special discounts across home, fashion, food, fitness and entertainment.
So, if you’re already bored of cooking home cooked meals, then why not try one of the delicious recipe kits we have? You can choose from Gousto, Simply Cook, Mindful Chef, Graze – or if you’re feeling especially fancy why not order all four and have a feast?
No meal is complete without a nice lil’ drink, and with all the pubs shut this is the perfect time to try out one of our various drink offers.
Subscribe to Beer52 and you’ll be sent a free case of 10 beers – you’ll just need to pay the small postage fee!
If beer isn’t your thing, how about joining the Craft Gin Club? Every month they select one of the world’s finest gins and send a full-size bottle, along with a range of complimentary treats. Sign up through Emma and get 2% cashback!
Or, opt for some delicious premium wine? Get 4% cashback at Tanners wine when you buy through Emma.
We also have a lot of entertainment offers to keep you amused during weekends in lockdown.
If you’ve already completed Netflix, then you should turn your attention to the Audible offer we’re currently running. All you need to do is sign up for the Audible free trial through Emma and you’ll be rewarded £3! With hundreds of audiobooks to listen to, lockdown will surely fly by.
If Netflix is more your style, then look into getting NordVPN. You get a £10 reward and 70% off when you buy through Emma, and you’ll then be able to access all the Netflix programmes available in the US!