Article Bookmarked
Bookmark Removed

6 Easy Ways to Simplify Your Financial Life


Feb. 16, 2020 WiseBread

If you’re looking for some easy ways to simplify your finances, consider these straightforward ways to master money management:

1. Create a financial calendar: Many of us start the year with great intentions, but we fall off track along the way. I always recommend creating a budget as an essential piece of money advice, and I’m going to make a slightly different suggestion for those of you who already have a budget — make a financial calendar. Store your calendar on your phone or tablet, so you can set reminders and create a list of major financial tasks you intend on completing, along with their due date. For example, you might remind yourself to complete your taxes by early April, compile all of your tax documents by March 1, and increase your 401k contributions for the year by January 15. You can also use it to set financial goals, such as the date by which you hope to save $2,000 for a vacation, or to track goal milestones toward paying off debt.

2. Ditch the Paper: Paper bills, credit card statements and other financial documents can become easily disorganized. Take a moment to request all of your financial documents be switched to e-delivery, and if you have old files of paper document you still need, start scanning them into an e-format. They’ll be easier to retrieve and use, less likely to be misplaced, and may allow you to make better financial choices when you can see everything at once.

3. Clean Out Your Wallet: If you’re savings-conscious like me, your wallet is probably overflowing with retailer loyalty cards and coupons. These are powerful tools for reducing costs with perks like free shipping, early access to sales, and other special promotions and discounts. However, having too much plastic in your wallet can also leave you feeling disorganized, scattered, and less likely to use these many programs regularly. Consider downloading apps for your favorite loyalty and coupon programs, or better yet, an app to consolidate all of your accounts in one place.

4. Streamline Credit Cards: While you’re cleaning out your wallet, consider the myriad rewards credit cards you may have. You’re less likely to use multiple rewards cards as intended, and more likely to run up needless fees. I recommend using a single rewards card, such as Bank of America® Cash Rewards credit card, that allows you to switch your cash-back category on a monthly basis. That means a single card can earn you top-notch cash back for online shopping, travel or many other common shopping categories. You’re more likely to get all the cash back you deserve and can save on fees associated with juggling multiple cards.

Read More on WiseBread

Gene Upshaw Player Assistance Trust Fund

Apply Today

All Resources

Tell Me More

How to Get Out of a Bad Co-signing Situation

Keep in mind moost co-signers are family members. Take the right steps.

Read More

What Causes a Credit Card to Stop Working?

From maxed out to an error in the billing address. There are plenty of reasons.

Read More

12 Money Mistakes You're Teaching Your Kids

Experts share the harmful financial messages children learn from their parents.

Read More

What Does It Mean If Your Credit Card is Charged Off?

Know what it does to your credit report, and your available options.

Read More

Long-term, heavy coffee consumption and CVD risk

Too much coffee could take a toll on your heart health.

Read More

Is the Division of Labor Fair in Your Marriage? Here’s How to Figure It Out

Setting expectations about who does what — and adjusting them again and again — is crucial.

Read More

The Hedonic Treadmill: A Look at Our Relationship With ‘Happiness’ and ‘Stuff’

Money doesn’t buy happiness, but not stressing about how to pay the mortgage helps.

Read More

The Essential Role of Sleep in Immunity

Maximizing sleep for defense against COVID and the best vaccine results

Read More