Today is a special day on TwinCitiesView, we have a new writer appearance, the amazing, one and only Veronica Lewis. Give a warm welcome to her as we dive into her article on an important subject ‘finances!’ Enjoy!
Live Happier By Decluttering Your Finances
By Veronica Lewis, freelance blogger
If you’re like many Americans, 2017 is the year that you have committed to simplifying your life. For some, that may mean finally getting rid of things that you do not use or that hold no meaning for you. For others, it may mean getting control of your finances by decluttering your financial life.
Simplifying and decluttering your financial life can help ease stress and make it easier for you to reach your goals. With fewer accounts and bills to keep track of, you’ll be better able to manage your money — paying off your debt, saving for retirement or doing whatever else you would like to do with your hard-earned cash.
If you would like to get back to basics and make managing your finances a lot simpler this year, read on for some tips for how you can have a happier — and more productive — life by decluttering your finances.
In 2017, it is easier than ever to make sure that your bills are paid, your checks are deposited and your expenses are tracked. There are a variety of simple functions and programs that are available from your employer, online banking platforms and via software companies that allow you to automate your life and simplify your finances.
Start by signing up for direct deposit. Having your employer put your money directly into your bank account (or more than one bank account!) is a painless way to ensure that your earnings are in your account, without having to go to the bank every two weeks. You can also divert some of that cash directly into a savings account so that your savings are automated as well.
Next, use a bill pay service. Many banks and billers offer an electronic delivery service so that the amount is automatically paid each month. If this isn’t available or you aren’t comfortable with this option, you can still pay your bills online with recurring monthly payments. This is particularly helpful for bills that are the same each month, such as your student loans, the cable bill or a budget amount on your electric or gas bill.
Finally, track your expenditures using a software program or app. There are many options available that can help you take charge of your spending, without the tedium of collecting receipts and manually entering the details into a spreadsheet yourself. These programs can be synced with your bank account so that each time you make a purchase, it is automatically logged in the app — and you know exactly where your money is going each month.
If you truly want to declutter, going paperless for your bills may be a great option. Not only is it more environmentally friendly, but it will save you considerable time. Instead of having to physically store, file and ultimately shred physical bills, you can review them online at your leisure, and won’t need to take any further steps.
However, there are some people that may benefit from getting bills in the mail. If you use a credit card, it may be helpful to review the actual bill and make sure that the charges are valid. It may also be helpful if you are struggle to remember to pay the bill — having a physical reminder in the mail can be helpful. But if you automate your payments and review your bills online, going paperless should work for you.
Pay Off Debt Early
If you are like many Americans, you likely have multiple accounts for each financial category — several credit cards (major cards and store cards), several bank accounts, several retirement accounts, multiple student loans, multiple mortgages, and more. Consolidating and refinancing these accounts when possible can save you money and make your life a lot simpler.
For example, by choosing one bank for your credit cards and money and one company for your insurance, you will likely be eligible for better rates or terms because you are bringing more business to that particular institution. It will also be easier to keep track of your bills when you are writing a check to just one company, rather than multiple different ones. For debts such as student loans and mortgages, refinancing can help you get a lower interest rate on your loans, and will leave you with just one payment to make each month. Research your options for consolidating your various accounts and debts, and consider whether simplifying these accounts will save you both time and money.
Decluttering your financial life doesn’t take much time — but it can make your life a lot easier and happier in the long run.
I know I’ve learned a thing or two from this informative article and I hope you readers did as well! Thank you Veronica and hope to see you again on TCV.
Take care readers!
photo 1 by: blog.itdcommodities.com
photo 2 by: techlicious.com
last photo by: dailyworth.com