The one thing we all look for in life is more time. I have never heard anyone say that they have too much time on their hands. In order to manage our time, we need to take a close look at the way we are running our lives. What are the time robbers and bandits in your life? One area that I find people having trouble managing is their financial items. Here are five ways to help you simplify that process.
1. Limit the incoming- Get your bills and financial statements online. You can even have your bills drafted out of your checking account to save another step if you feel comfortable with it. This will cut down on your paper management time and empty out that mailbox!!
2. How many checking accounts do you have? Can you cut them down and use one for personal? This will make a huge difference in your management of money.
3. Lets talk credit cards! How many do you have and what is the monthly interest on them? You can always call your credit card company and ask for a lower rate(I do this for clients all the time).Again, think about streamlining the ones that you use. The trend these days is to find one that offers rewards or mileage.
4. Keep good records. If you don’t choose to have your financial papers online, make sure that you set up a filing system to keep them in order. Clearly label each folder. These also need to be purged at the end of each year.
5. Set up a current tax file to keep all your tax related papers that come in during the year. If you have a lot of relevant papers, you might want to break them down by category.
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