Five Finance Tricks That Are Made Simple For Your Busy Life
For many of us, minding our finances is too complex and involved to be done efficiently. We want to provide the things our families need today, plus plan for the future, but our busy life prevents us from achieving our financial goals. To help you overcome that dilemma, here are five finance tricks that are made simple for your busy life:
Live on a budget
Living on a budget can greatly simplify your busy life. Instead of having to make new decisions and readjust your finances every time situations change, simply use the budget as a guide to make the decision. Obviously, you won’t be able to do this all the time, but in many cases, the correct financial decision will be contained within your budget.
If you haven’t started this process already, make sure that you know how much you are getting on a monthly basis. The next step is finding where your money is going each month. This will let you know if you are living above or beneath your means and will help you in every other step along the way.
Organize your finances into the simplest form
If you are computer literate, set up an Excel spreadsheet that you can refer to and modify on a regular basis. However, if pencil and paper is your cup of tea, you can accomplish the same thing with ledger sheets. The important components are going to be the same and what is important is that you know where every aspect of your finances are being allocated.
Put your long range savings plan into auto mode
Once you complete the preparation of your budget and determine how much savings you need to set aside each pay period, have that amount automatically transferred into a savings account or some type of investment vehicle, such as stocks, bonds, or mutual funds.
Try doing it yourself
Perhaps you shy away from doing things yourself, because you don’t think you have the knowledge required to complete the task, or you won’t be able to locate the parts you need. Don’t sell yourself short: you can save a lot of money by doing things on your own! Get the help you need online or by watching YouTube videos. If you need parts for DIY repair, they are readily available online, in case you are not able to locate them at your local big box store.
Pay bills online
Most banks have bill-pay applications that you can use to pay your bills online. Bank of America uses this feature and it is both faster and more convenient than writing checks. You can even set up automatic payments to be triggered on certain days of the month to keep you from paying late fees.
Our finances shouldn’t be so complicated as to demand a lot of our busy time. Simpler is usually better, because it’s more manageable and more understandable. Hopefully, the five tricks presented here will help you simplify your busy financial life.
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Category: Financial Planning
