Tips to simplify your finances

If you’re having a lot going on in your life and wasting time on managing your bills and financial obligations is not your thing, then your journey to minimalism should start right now.

We might have specific time planned in a week for finances, but it is obvious that most of don’t get the time and usually tend to leave it late. A holiday might come in or just life, in general, might throw something at you and the time you allotted may not be available to you.

And if we leave it late, a situation arises where you are just loaded with information you end being on the bad side in terms of financial planning.

Here are some smart tips to simplify your finances.

1.    Consolidate your bank accounts:

Most people who end up with poor financial planning will be having multiple savings accounts as well as multiple credit cards.

The best thing to do if you have multiple bank accounts is to close the unnecessary ones and open a savings account and one checking account.

The checking account could be used to manage your day to day money flow, you can use it to deposit your paychecks and manage your bills.

The savings account can just be used to hold your savings and not for any other services.

2.    Automatic bill payments:

While many people still remain skeptical about using automatic bill payments, it is still an effective way to manage your bills and not worry about them.

You can enable automatic bill payments for any services that charge you a small amount per month like your internet bills and T.V subscriptions etc.

3.    Use your credit cards:

Credit cards are very helpful in helping you manage your purchases and expenses without having to dive into your account for every single transaction. The advantage of using a credit card is that you will also benefit from cash back offers and rewards offered by the service provides.

Most often you may be able to consolidate your reward points and use it for purchases. This will help you to get something back for all your transactions.

4.    Pay your bills once a month:

Settling your monthly bills in one day is better than having to go through them at alternated days. This will help you to manage your finances and calculate expenditures accurately without any hassle.

Paying all your bills at one time also helps you not lose money throughout other days of your month. If you have a credit card this becomes all the easier as all the bill payments can be made in minutes.

if payment on one single day is not possible for all your bills, program your billing cycle in a financial plan that would help you keep track of everything that’s is happening with your finances.

5.    Cut out on Debts:

Another essential tip is to reduce your debts.  debts won’t cost you anything severely in terms of finance but if you have multiple debts, allocating money out to all of them in one month, may become stressful.

Trying to reduce the number of debts you have, would be very helpful in removing complications in your financial plan if you have one.

6.    A certified financial planner:

A certified financial planner can help you get your life sorted in no time, they will take care of all your expenses and manage your in’s and out’s effective.

A certified financial planner like Wealthcare India can help you do all this without even look at details of your finances. We will simply take care of everything that you have to so that you can enjoy some time with the family. Our certified financial planning services experts can help you out with managing your accounts, helping with loans etc.

These smart tips will help you get rid of some of the hassles associated with bill payments as well as help you relive some of the stress you might have in your busy life.