4 Simple Tips for Organizing Your Finances
Disorganized finances can make it difficult to plan and set your goals. Following a pattern of established management guidelines can help you stay on top of your financial situation throughout the year. Whether you need to overhaul your budget, assess your credit standing, or get a better handle on your investments, here are 4 daily habits to make it easier to manage your financial life.
Set Goals and Monitor Them
One of the key principles in money management is to establish goals for yourself and track your progress toward meeting those goals. For example, if your aspiration is to save a certain amount of money for retirement, then you can set monthly and annual savings targets or a goal for a specific account balance and regularly examine your progress toward these goals.
Consolidate Accounts
People often accumulate multiple financial accounts, which can increase the burden of managing them. It also creates more opportunities for cybercrime.
It’s difficult to figure out how well or how poorly your nest egg is performing if your retirement assets are spread across multiple accounts. Consolidating as many accounts as possible will make performance evaluation a simpler procedure.
Set Up Automatic Bill Pay and Savings
Missing a bill or late payments are usually met with a steep fee and that’s money that could have gone to a better cause. To avoid this situation, set up automatic bill pay. Many online financial institutions provide this service and oftentimes there is no charge.
Team Up With a Financial Advisor
Sometimes the best way to find success is to bring a professional on board. Financial professionals can offer advice on a wide range of issues: retirement, estate planning, insurance, taxation, and more. With an expert guiding you down your financial path, you’ll be better able to make informed decisions that produce superior results.
By incorporating these changes into your regular money management routine, you may have less stress and more financial success. If you need help with any of these organizing tips, please feel free to reach out to us to see how we can help. Click here to schedule a call with one of our advisors.
If you are approaching retirement, I encourage you to click here to download our free retirement checklist to help you see how prepared you are.
This content is provided for informational purposes only. It is not a guarantee of future success, is subject to change, and is not intended to serve as the basis for an individual’s financial decisions. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Strategy Financial Group does not provide specific legal or tax advice. Please consult with a qualified professional for guidance on your individual situation. Investment advice is offered through Strategy Financial Services, LLC, a registered investment adviser. Insurance and annuity products are offered separately through Strategy Financial Insurance, LLC.