You should periodically review any assets you have
Are you a property owner?
Downsizing could be an option, but if you decide to do this, look at all these money saving ideas to maximise your return.
– Don’t discount the idea of renting a room out.
Do you have shares?
An obvious thing is to weigh up if you would be better off selling than paying interest – that’s your call. However, if you decide to hold your shares for the ‘long term’ you should ensure that they are placed in a shares ISA.
Cash in the attic?
Selling your junk on Ebay and at car boot sales is a no brainer!
Reclaim bank charges
Strange to think of bank charges as ‘assets’ but you may be ‘owed’ money by your bank due to mis-selling.
The car – think the unthinkable!
If you live in an area with good public transport ‘car hire’ for short periods is a serious option. Car rental for a few days a month would be cheaper than running a car let alone the capital tied up in owning one. Check out some car rental websites and if you must own a car it is important to shop around each year.