THE SOFA CHALLENGE

When I started blogging about personal finance I did ask my readers to go and check what money was just lying about and they were unaware of. It is all about taking stock of what you have and what you owe. Reduce what you owe with what you have and then build the what you have up to replace the income you have to earn to live. Hope you are still with me after that. It sounds a simple formula and if you apply it, you will get there.

I received an email today from a reader which I would like to share with you :

I have finally got round to hunting down the back of the financial sofa and checking if the accounts I still had cards for had been closed (as I've opened my ISA today and wanted to transfer all balances across).

Two were still open.

One had 74p in it, so it's hardly worth the price of a stamp to the bank requesting it be closed down.
The other had £4 according to the last entry in the pass book, but has grown to £18.

It's better than nothing - so I'm going down this afternoon to collect my balance!

Thats a least one person who benefitted from that post, yeah, happy about that.

If you took the sofa challenge and looked at the accounts you have lying about , let me know what you have found. Believe me it can be worth it to go and have a look at what there is. You might be surprised.

Now don't spend it all at once, take it to the bank and pay off your creditcard debt or whatever debt you have.