Here are some suggestions to simplify your finances and hopefully make life a little less stressful for you.
1. Get Organized at home/work/school. Stop letting things pile up, and get rid of the clutter. Clutter can make us procrastinate and not stay on top of our finances.
2. Have a place for everything. For example, designate one place/folder to collect all tax-related information throughout the year.
3. Have one “inbox.” Have just one place in your house where all your mail goes. Then make sure you empty it at least two to three times a week – everyday would be best.
4. Automate. Sign up for automatic monthly billing for your regular bills.
5. Automate some more. Enable automatic transfers to savings and retirement accounts once a month.
6. Simplify your wallet. Have only one debit and one credit card in your wallet.
7. Get a receipt organizer. Only keep the ones you’re likely to need for taxes or returns.
8. Stop eating out so much!
9. Go grocery shopping only once a week. Make a list, and don’t buy anything that’s not on the list – this is a tough one for us.
10. Consolidsate insurance policies. Consider a single insurance company to consolidate billing and get discounts.
11. Slow down. Don’t buy impulsively. If you really need it today, you’ll really need it in 30 days. Give yourself time to think about your purchases.
12. Bundle expenses. If it makes sense financially, bundle certain services like cable, internet, and phone – we saved about $20/month doing this a year ago.
13. Consolidate due dates of bills to the same day of the month.
14. Consolidate debt or loans into as few accounts as possible.
15. Develop a plan to pay down your credit cards – feel free to contact me if you need help with this.
16. Use a software program to track your money.
17. Reduce/Limit your number of budget categories. Cut the number of budget categories you track to less than 15.
18. Keep only the files you need.
19. Stop checking the market everyday. If you’re a long term investor, stop checking the market and your investment balances daily. However, be aware of what you’re invested in and don’t be afraid to ask questions if you don’t know the answers.
20. Check the market occasionally. I know this seems opposite of what I just wrote, but some people never check the market.
21. Set a date. Once a week get with yourself/spouse to track/check your spending. Brandy and I are really working on this one. When we do get together, it’s usually for only 10-15 minutes, but it really keeps us focused and aware of our spending.
22. Find and eliminate unnecessary expenses.
23. Subscribe to my email list and get some really cool advice!
Contact me. We can review your situation and see if there is any way I might be able help to simplify your finances. I’m honored to say that many of my clients come to me for help with their budgeting.