You dream of a clean house, but it’s not always easy to motivate yourself to do it. The same goes for our finances. We can’t make the chores disappear, but we can definitely help you breathe new life into your finances, one checklist item at a time.
- Subscriptions. Scan recent bank statements to see what’s regularly dipping into your account. Then start cutting. If you’re not willing to part with a subscription, try downgrading.
- Financial paperwork. VIP docs to keep forever: tax returns. Toss bank account statements and pay stubs after a year (or go paperless!).
- Fees. All the extra charges for credit cards, checking accounts, getting cash, etc., add up. You can avoid a lot by being deliberate about where you put your money. For example: switching to a free Kasasa Checking account with no service charge ever. Did we mention ATM fee reimbursements? Run. Don’t walk.
- Financial accounts. Sometimes, separating your money – like in a checking account, emergency fund, and sinking fund – can help you organize your savings goals and track progress. But having too many accounts can be overwhelming. Consolidate where you can and close accounts you no longer use. For retirement accounts, consider rolling over old 401(k)s into an IRA.
- Credit cards. Like everything, credit cards can be helpful in moderation. They make large charges manageable with monthly payments, cover you in a pinch if your emergency fund is out of commission, and help you establish credit. Finding the right one with the rate you deserve is key.
- Debt. Consolidating loans or transferring your high balance to a better, low-rate card can streamline your debt repayment plan and minimize your monthly bills. You might also think about refinancing.
Phew. Though this list might not cover it all, it’s a great place to start!
Now is a great time to take inventory and repurpose, sell, or donate items you don’t need anymore. If your items are in good condition, you can sell them just about anywhere. Your front yard, Facebook Marketplace, Depop, and more are great ways to make extra money.
Now, let’s keep it up.
Consistency is key. Whether that’s twice a year, quarterly, or every month, finding a routine and time to review your finances ensures they’re working for you. Keep up on new expenses, set reminders to review payments, and avoid paying for things that don’t serve you anymore.
If you’ve got goals, let’s meet! We’re here to support you and answer any questions.