If 2019 hasn't been great for your finances, don't fret. The new year is a chance to refresh and make a plan to turn things around.
From switching bank account to paying more attention to your pension, there are plenty of simple financial promises you can make that are easy to stick to and could make you richer.
So, when you're making your new year's resolutions, consider adding these money goals to your list to keep financially fit in 2020.
You should aim to check your credit score at least once a year and always do so before applying for new credit.
Whether you're just starting to save or have already built up a little nest egg, make 2020 the year to earn better returns.
Interest rates on savings accounts are depressingly low right now. But it's important to find an account that will help your money grow and beat the current inflation rate to protect your cash from losing value.
It's essential that your bank account suits your financial needs.
People in the UK owed more than £1 trillion in personal debt including credit cards and personal loans. On average, each UK household has around £2,603 of credit card debt alone, according to The Money Charity.
If your debts seem overwhelming, all hope is not lost. Making a plan on how to clear them will help you move from the red into the black.
Generally, you should start with the most expensive debts, which are often likely to be on credit cards.
Trying to clear a balance of £2,668 at the current average credit card interest rate - 18.5% APR - would take just over three years and cost £798 in interest if you paid in £92 a month.
By switching to a 29-month 0% balance transfer deal with no fee, for example, you could pay the same £92 a month and clear the debt in just over two years - saving £798.
It's vital to check over your direct debits and standing orders to make sure you're not paying for services or products you no longer need.
This could be anything from unused gym memberships and forgotten subscriptions to insurance products that aren't required.
If you find recurring payments you'd like to cancel, first get in touch with the company to check if you'll have to give written notice before cancelling.
Our research earlier this year found that couples need £27,00 a year to live a comfortable retirement or £42,000 a year to live a luxury retirement that includes a holiday every year and new car every five years.
To generate this income, you would need a pot worth £298,000 to have enough to get by or £695,000 to achieve the luxury lifestyle in your golden years.
So the earlier you make a plan for retirement, the less pressure you'll have to meet your saving targets.
One surefire way to improve your pension savings is to increase your pension contributions.
If you haven't opted in to a workplace pension you should consider joining as your employer is legally bound to pay in, too.
The table below shows the current minimum employer contributions. Some employers may offer more generous terms though so be sure to check to see how much of a boost you can get.
|Date||Employer minimum contribution||Total minimum contribution|
|6 April 2019 onwards||3%||8% (including 5% staff contribution)|
|6 April 2018-5 April 2019||2%||5% (including 3% staff contribution)|
|Until 6 April 2018||1%||2% (including 1% staff contribution)|
If you're already part of a workplace pension, you may want to consider increasing your contribution. Our research shows minimum contributions need to be closer to the 12% mark to give people a suitable income in retirement.
Not having a will could spell chaos and financial worry for any remaining family or dependents after you're gone.
Making a will can give you and your loved ones peace of mind, and make sure that your money and assets go to the intended people.
There are lots of different ways to put more money in your pocket in 2020.
Whenever a household bill comes up for renewal in 2020, don't automatically accept the price you are given.
First, shop around to see if you can get a better deal.
You can also try finding the best offers using a search engine yourself which will help identify companies that don't appear on price comparison sites.
Once you know what you can get elsewhere, it's worth haggling with your current provider.
In our most recent survey of more than 2,000 people, six in 10 said they had managed to negotiate a better deal by haggling.