The new year is a good opportunity to take stock and managing your money could be one area ripe for an overhaul.

It may sound too ambitious to say you will fill your ISA allowance or get on the property ladder in 2020 but there are small steps you can take.

Research by comparison website GoCompare has found only 43% of Brits believe they will start the new decade with their finances in good shape.

Over a third (35%) of people surveyed said they really need to reduce their outgoings in 2020.  Areas people will look to make savings include grocery bills, TV subscription services, energy bills and car and home insurance.

For some, just talking about money would be a start.

A separate survey by Lloyds Bank has found one in three (33%) adults said concerns about money are keeping them awake at night, with this number rising for those aged between 35-44 (41%) and 45-54 (43%).

Not limited to the bedroom, financial woes are also impacting people’s performance at work (16%) and taking their toll on personal relationships (24%).

Despite these concerns, a third of people said they don’t talk to anyone about the financial pressure they are feeling.

The top financial matters on people’s minds are housing costs (27%) such as their rent or mortgage, debt (24%) and saving for big events, such as a wedding (19%).

Almost one in five (16%) said financial pressures have had a negative impact on their work performance. This is most prevalent in those aged between 18 and 24, with one in four (26%), feeling under the strain whilst at work.

In fact, almost a third (29%) of 18-24 year olds said that they have avoided addressing their finances, because of the financial strain they find themselves under.

This also extends to personal relationships, with one in four (24%) saying their relationships with family and friends would be more positive if it weren’t for their money worries.

It is important to not hide financial issues from your loved ones and talking things through can help alleviate concerns.

A financial adviser can also provide a friendly and non-judgemental ear to help get your finances in shape for 2020 and beyond.