Are you tired of wrestling with your finances?
5 Ways to Make Finances Easier
by Brandon Schmid
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Wouldn't it be nice if you could make your finances easier to deal with? I've compiled a list of 5 ways to make finances easier to help with personal finance basics. The nice thing about making your banking easier is you can usually save money and create more free time for yourself. Banking can be easy.
- Use Direct Deposit: This is the first and easiest way to make your finances a lot easier. Amazingly many people don't take advantage of this opportunity and still venture to the bank every week to deposit their paycheck. Your place of employment probably offers the option for direct deposit and it will save your time and, in some cases, money.
- Create Two Checking Accounts: This is truly helpful and helps you to analyze how much money you can spend each month and how much money must be allocated for bills. One way to make this work is to have one account into which your paycheck is deposited and the other used for bill payments. By doing this, you are less likely to over spend and will always have enough to pay all of your bills.
- Create a High Rate Savings Account: Many financial institutions offer a high rate savings account and you should really consider taking advantage of this. A high rate savings account is a wonderful place to store money for your emergency fund and often offers competitive saving rates. It's easy to make small contributions from one of your checking accounts to quickly build up the balance and it builds up your savings better than most other types of accounts.
- Automate Your Banking: Every bank has the online option and it makes life incredibly easy. Online banking is personal finance basics at their best. You can check your account from anywhere in the world and schedule monthly bill payments. The options are limitless, online banking is perfectly safe and banking can be done from the comfort of your own home.
- Create a Bill Calendar: Even if you have email alerts or automated bill payments, you should consider making a calendar for yourself, just in case. It's good to write down when your bills are due in a journal or on a personal organizer as a regular reminder. Make sure it is written in a place you will look at around once a week. Having a written reminder will help prevent over spending and is a just a great way to prioritize your finances.
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Banking doesn't have to be difficult. The more you simplify the personal finance basics in your life the more likely you are to save more money and make all of your regular payments. Although you will have to make a little effort to start out, it should be smooth sailing from that point on.
Brandon Schmid is the President of Angulus Marketing Ltd.
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- Find out what a high school economics teacher can teach you about your finances.
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