When sitting down to manage your budget, you may feel overwhelmed by the amount of expenses you have to handle. By simplifying your finances, you can unburden yourself and create a budget that works more efficiently for you.
Creating a budget is great but remembering to routinely set aside time to go over your finances can be hard when you’ve got a busy life. Create a financial calendar to help yourself stay on track and meet those personal finance goals you set at the beginning of the year. Your calendar may include reminders about tax season, 401k contribution increase deadlines, insurance renewal dates, or debt repayment goal dates. Setting up your financial calendar in your phone or on your computer will ensure that you will have frequent contact with the calendar and hopefully use it!
We live in the digital age, it’s time to ditch the paper bills and go paperless. It may be useful to create a separate email account specifically for bills. Switch your bills to paperless so that you can file them digitally. You won’t misplace a bill or miss a payment if everything is organized in your email instead of lost in a pile on the desk.
Check Your Billfold
If your wallet is overflowing with loyalty cards and coupons, it may be time to clean it out and switch to an online wallet for those reward cards. You’ll feel more organized and save time by not shuffling through your wallet every time you shop. Just whip out your phone and pull up your card!
Meet your savings goals without the hassle and stress by automating your savings. You can accomplish this by electing to allocate a certain percentage or dollar amount from your paycheck directly into your savings account, or by having your bank automatically transfer a certain amount every week or month. If the process is automatic, you can set it and forget it. And if you do manage to forget it, you’ll be pleasantly surprised when you finally remember to check it and see how much your savings has grown!