Simple Rabbit

I am pleased to have the opportunity to interview Christy King from Simple White Rabbit for this week’s Simple Inspiration interview.

She began to blog at The Simple White Rabbit after speaking with friends and acquaintances, she discovered she wasn’t the only one overwhelmed by the idea of simplifying.  She wanted to share what she learned, and began to blog about gradual minimalism.

Some posts are directly related to financial issues, but most relate to the overall topic of simplifying our lives. She focuses on simplifying gradually, both so busy people can fit simplifying into their schedules and to help prevent that CAK sittingoverwhelmed feeling so many of us get when thinking about a big project.

She believes that by spending more mindfully, we can save money to work less now or retire earlier. Or both, which is her goal.

What event led you to simplify your finances and your life?

There was no single event leading to my decision to simplify my life. Gradually, I realized that having a lot of stuff is a trap. The more we have, the more it costs to care for and store all that stuff, and, having become accustomed to those things, we begin to feel luxuries are actually needs. This traps us in a lifestyle of working to maintain all this stuff, and usually, to acquire more.

What area of your financial life needed the most simplification?

I’m a bit of Luddite by nature, so I wanted to receive and retain everything on paper. This wasn’t such a big deal when I was single, but the paperwork multiplied fast as my family grew, and I realized I’d need to learn to live without hard copies of everything.

Where did you begin to simplify your financial life?

I started simplifying in small ways several years ago, but I became more serious about it in early 2012.

What was your biggest challenge or roadblock when it came simplifying?

I had this crazy idea that if I couldn’t scrap everything and fit all I own into a compact car, or at least a tiny house, there wasn’t much point in even trying to simplify.
I also felt the job was too big. As a working mother, how could I find the time?

What app or tool helped you the most when it came to simplifying?

I mentioned that I’m a bit of a Luddite. I think I may be the only person around who still balances a checkbook with a pencil and calculator. So I don’t use any financial “apps.”

Where possible, I arrange to autopay bills and receive statements via email. I also have automatic withdrawals for payments to my savings, mutual fund and 529 Plan accounts, as well as for charitable donations. This saves not only paper, but also time and mental energy.

Obviously, there’s still some paper coming in to the house, but if I need to save the information, I do that by either scanning the document or by typing up a few important points. For instance, if I take the dogs to the vet, I’m sent home with several pages of information. All I really care about remembering is what day we went in and what happened, so I keep a Word document to type a line or two about each visit.

There are exceptions of course, like certificates of vaccination, which I do retain in paper.

How has simplifying changed your life?

I know this sounds melodramatic, but I feel like a different person. Freer, more flexible, happier. Like the world is wide open to me and I have options I didn’t have before.

Are there any areas of your finances that you still need to simplify?

We’re a blended family. My husband has three kids from his first marriage, one in college, one with special needs and one working full time but not yet supporting himself. I have a 14-year old I adopted when I was single. Since we both work, we’ve kept our finances separate, and we have three checking accounts: one each and a joint account. One of these days, as the children become self-supporting, we’ll change that, because I find it a tremendous hassle. For now, though, it works best for us.

What advice or tips would you give to others who want to simplify their finances?

Try to get all of your statements online instead of in the mailbox. If you want to save statements, just download them to an appropriately labeled folder. Make sure the year is in the name, so it will be easy to delete the whole folder after the retention period you’ve chosen.

Where possible, set up autopay. If you can’t, pay bills online through your bank or through the creditor’s website inside of mailing in a check. Also arrange for auto-withdrawals to investment accounts and charities if you can.
Not only is it faster to deal with finances this way, but stopping the stream of paper entering your home is key to simplifying.

Without this step, it’s nearly impossible to keep paperwork from spiraling out of control.

How long did it take you to simplify?

It’s only been in the last couple of months that I look around and think “Wow, things are so easy to find and keep clean,” so I guess it took about 3 years.

A few weeks ago, I thought I had misplaced a bill (one that I can’t receive electronically) and I went through all my papers looking for it, anywhere it could possibly be. It took five minutes. Until this incident, I hadn’t realized just how simple my life had become.

What are your current financial goals?

My husband will be eligible for retirement long before me, but I’m hoping to be able to retire when he does. We’re saving to make that happen (it’s a little tricky, since my son will be in college then), as well as becoming accustomed to living with less now so we won’t feel deprived with a simpler, less expensive lifestyle in retirement.

As part of that plan, we’re moving from a 2,200 square foot house to a 1,250 square foot townhouse. Luckily, we’ve gotten rid of so much stuff over the past few years that downsizing this much isn’t a challenge.

All of us (even the 14-year old, amazingly enough) are looking forward to the move. We’ll spend a lot less time on chores and a lot more time enjoying ourselves.

Thanks Christy. I appreciate you taking your time to sharing how you have simplified your finances and offering some tips on how others can simplify as well. If you would like to read more articles from Christy, visit her blog The Simple White Rabbit or follow her on Twitter @simplewhiterab.  She also has several interviews from others who have simplified their lives if you are interested.

To read previous interviews in the series click Simple Inspiration Interviews.

If you are interested in sharing how you have simplified your financial life, send me an email and I will follow up with you.  Enjoy the rest of your week. Til next time, take one step at a time to simplify.


What Are you Willing to Give UP

Ever considered giving up something to help improve your finances?

With the Lenten season upon us now, it’s the time of the year many decide to give up something as a sacrifice or work to improve yourself during these 40 days of lent.

Why not apply the same philosophy to your personal finances?

We can all benefit from giving up certain aspects of our financial life that is preventing us from achieving the goals and objectives we have set for ourselves. Many of these things are not positive which end up dragging us down. Think about the things that are preventing you from achieving the financial peace you are looking for.

We should remove those things that prevent us from moving forward with our financial lives. You can do it if you put your mind to it.

To help you, here are 10 things you should give up if you want to improve your finances:

Give Up Keeping up with Jones

Trying to keep up with the Jones happens to many people even the rich and famous do it. It’s more likely you will end up with less money than more money if you try to keep up with everyone else. Many people believe buying things and spending money like everyone else does is a good thing. If you are spending beyond your income, you will eventually end up in a very difficult financial situation.

So if you want to simplify your financial life, you must give up trying to keep up with the Jones. It will be a good thing for your bank account and stress level.

Give Up your Financial Fears

Many of us have a financial fear regarding some aspect of our financial lives. It could be as simple as a fear of change. If you want to move forward or improve your finances, you will have to give up some of these fears if you want to simplify your finances.  This post Is Fear Preventing you from Simplifying Your Finances may help you get over some of your financial fears.

Give Up Manually Managing your Finances

We all have specific financial tasks we must do to manage our finances. However, doing some of these tasks takes time to manage. For example, each month you may transfer your excess money at the end of each month or you write checks for all of your bills. These takes time out of your day and you probably do not enjoy doing them.  Well instead give up the manual tasks to manage your finances and instead automate these tasks each month. Automating will

  • Save you time
  • You will not forget to do it
  • Simplify your financial life

Give Up Receiving Paper Statements

Are you still receiving your monthly bills and statements in the mail? Consider giving up those monthly paper bills and statements instead go paper less. This will reduce the amount of mail you receive as well as reduces the chances that your bills are missed placed. It will also help the environment.

Give Up Blaming Other for Your Financial Situation

We are all in different financial situations. Sometimes things don’t go the way we want them to go.  Many times we don’t take responsibility for the financial mistakes we may have made and often we blame others for the financial situation we are in.  Give up blaming others for your financial situation and instead focus on making you your financial situation better by finding ways to improve the situation you are in and take ownership of the things you have done.

Give Up Not Taking Action

Many times we say we want to or we should do something.  But we take no action to do what we say we want to do.  You will not achieve financial success by not taking action.  Give up not taking action and move forward with your first action step to achieve the financial goals you want to achieve.

Give Up Waiting for the Perfect Time to Start

No one is perfect and every time you do something it does not have to be perfect.  You don’t have to set the perfect budget, you don’t have to have the perfect saving plan in place, or find the perfect credit card. If you are waiting for the perfect time to invest it may never arrive or waiting for the perfect time to begin saving.  Give up having to have the perfect situation instead take action and get started.  You can always make changes once you start.

Give Up Telling Yourself You Cannot Achieve the Goals You Set

Many feel they are not able to achieve their financial goals and dreams they would like to achieve such as retirement. The belief that you can not achieve what you want is a big hurdle to overcome. If you don’t believe it can be done you will probably  not put the effort in to achieve it. By giving up the belief that you can not achieve what you want is the first step to reach your ultimate goal.  Once you believe you will begin to see the many possibilities you can achieve.

Give Up Bad Financial Influences

We are often influenced by those we surround ourselves with from family, friends, and co-workers.  We often develop the habits and values that we are most often in contact with. These individuals maybe bad influencers. They may be preventing us from achieving what we want to achieve or may have developed bad financial habits by surrounding ourselves with.  Give up your bad financial influences.  Find people who have similar values to you and will a good financial influencer.

Give Up the Past

Don’t let your past bad experiences influence how you handle things in the future.  For example, because you were not able to manage a budget previously does not mean you should not use one in the future.  Just because you were not able to save last year should not prevent you from saving going forward.  Best way to handle this is to find a better way to budget or save that fits your lifestyle.  Remember past performance is not an indication of future results.  So give up those past experiences and find a new way to handle your finances.

Now which of these 10 things do you need to give up so you can begin to simply your finances?

Are there any others that you have given up that have helped you begin to simplify your finances?  I would love to here other things each of you have given up to achieve financial simplicity.

Remember take one step at a time to simplify your finances.


Budget & beach

This week I am honored to have Tonya from Budget and the Beach share how she has simplified her financial life.  Tonya began her blog in May 2012 after a rough start as a freelancer.  After she was laid off from her last full time job in 2008, which was the worse time to get laid off.  She tried her hand at freelancing but she did not have any one to show her the process and steps needed to become a freelancer.  It resulting in many mistakes along the way.  In addition to those mistakes, she also began to living above her means, and was not budgeting to keep track of her finances.  By the time February 2012 rolled around, she had nearly depleted her savings and had accumulated  about $3,000 in debt.  Now she blogs about those experiences and how to manage your finances.  Also recently started a video series which you will find entertaining called BATB TV.

Let’s learn how Tonya has simplified her personal finances over the last few years.

What event lead you to simplify your finances?

I hit a financial rock bottom in early 2012 where my car was towed just after Valentine’s Day. I wouldn’t say things magically changed overnight, but it started the almost two year process of simplifying and living more frugally. I’m actually still learning and growing.

What area of your financial life needed the most simplification?

I needed to learn how to stick with a budget. I also gradually started cutting back on spending in certain areas like eating out, and cutting my cable and finding other household ways to save money.

What steps have you taken to simplify your financial life?

Again the budget helped me see where I was needlessly, and mindlessly spending money. I didn’t buy fancy things like new cars or take lavish vacations, but I was nickel and diming myself to death.

What was your biggest challenge or roadblock when it came simplifying?

Being able to say no to social plans. A lot of my friends do very well financially, or at least they seem to be. It was hard at first to say no to going out to eat, going to concerts, signing up for more beach volleyball tournaments, etc.

What app or tool helped you the most when it came to simplifying?

A simple Excel spreadsheet. I tried other (free) apps and online tools to track spending, but to me nothing was easier than good old Excel.

Do you have an emergency fund established, if so how did you determine the amount needed to fund it?

Yes. My magic number is 15k because I’m a freelancer and I tend to have some very slow months, so the more in the account, the better.

How has simplifying changed your life?

Simplifying your life is a good way to find out who your true friends are. The ones who are truly your good friends support you no matter what financial shape you are in and find ways to spend time with you without breaking the bank. I also sold a lot of stuff I didn’t need any more, freeing up a lot of mental as well as physical space. I now value money a lot more as well.

Are there any areas of your finances that you still need to simplify?

Not too much. Right now I’m just focusing on earning more income.

What advice or tips would you give to others who want to simplify their finances?

Take it slowly. If you are wanting to cut back on certain areas of your life where you spend too much money, try cutting back a little at a time until you have time to adjust. Living a simple lifestyle isn’t an event, it’s a journey.

What book, blog, or podcast would you suggest to someone who is looking to simplify or improve their finances?

Your Money or Your Life is one of my favorite personal finance books.

How long did it take you to simplify?

I’m still working on it, but it will be almost three years in May.

How do you simplify the management of your business finances as well as your personal finances?

I’m still working on this as I’m a freelancer so I have a lot to keep track of. This is one area where I’m still a little weak, and could use a better system. I’d say one key thing is a great accountant. I could never do my own taxes as a freelancer.

Any other thoughts you would like to share with others who are looking to simplify?

Read The Idiot’s Guide to Simple Living.

I would like to thank Tonya for sharing how her has simplified his finances.   If you want to learn more about Tonya check out her site Budget and the Beach , I know you will enjoy it or follow her on Twitter @Beachbudget. 

To read previous interviews in the series click Simple Inspiration Interviews.

If you are interested in sharing how you have simplified your financial life, send me an email and I will follow up with you.

Enjoy the rest of your week. Til next time, take one step at a time to simplify.



In my post Are You Looking for Financial Peace of Mind? This One Thing Can Help Provide it,  I discuss what is needed to provide you with a financial peace of mind.  One of the key necessity to provide you with a financial peace of mind is to be prepared for the unexpected.  You can prepare yourself by having an emergency fund in place.
Having money set a side for some unknown event that you not sure when that event will occur does not sound fun or even worth doing.
An emergency fund is one of the most critical steps to help you establish a simplified financial lifestyle as well as keep you on the right financial path even when those unknown emergencies occur and try to set you back financially.

You just don’t know when:

Your car may need a major repair

An unexpected medical expense will occur

A car accident will happen

Your employer decides to downsize

An unexpected home repair or deductible

You say “Wait some of these unexpected emergencies should be covered by my homeowners or medical insurance will cover this expense”.  That is true it may cover some but what about the portion it does not cover.  Where will you find the money?  For example, your medical insurance may cover up to 80% of your medical expenses.  So guess what?  You’re responsible for the remaining 20%.  Another example might be when you file a claim with your homeowners insurance.  You will have to cover the policy deductible, which can be several thousand dollars.  Where will you get the money to pay the medical expenses or insurance deductible?

This is why it’s critical that you establish an emergency fund which can cover these unexpected expenses.  Not having an adequately funded emergency fund can place a significant financial burden on you.

Still debating if you need an emergency fund in place?

Here are the benefits to having an emergency fund:

No additional debt

Having an emergency fund enables you to avoid taking on additional debt to cover unexpected expenses.  Many times if you do not have an emergency fund you end up using a credit card, using funds  from some type of personal line of credit such as a home equity line of credit or delay paying one of your other bills to cover you emergency cost.

By using debt to cover an expense it only increases the cost of the unexpected expense.  Then you have to figure out how you’re going to pay off new debt.

This once unexpected debt can set you back financially for several months or years depending on the cost of the expense and your ability to pay it back.

Financial safety net

Having an emergency fund is similar to having a safety net in place to catch you when those unexpected expenses occur.

With an emergency fund you have funds set a side payoff or pay for unexpected expense by having available cash designated for unexpected expense.  This allows you to simply pay for the expense without impacting your monthly budget which could create a financial hardship for you and your family.  Having an emergency fund can act as a financial bridge if you’re unable to work unexpectedly for an extended period of time without pay or suddenly lose your job.  Your emergency fund can cover your monthly expenses until you are back at work or have found new employment.

Less worries

Having an emergency fund in place and adequately funded you do not have to stress yourself out worrying where you’re going to find the funds to pay for unexpected expenses or how your going to pay your monthly expenses if you lose your job or unable to work.  You don’t have to worry about adding additional debt to your existing debt.

Now you know why it’s important to have an emergency fund in order to simplify your finances.

You owe it to yourself to take action by funding your emergency fund if you don’t have one in place. You can start by establishing a monthly automatic deduction from your primary account to another account.  If you do have an emergency fund in place it is adequately funded.

What other questions do you have regard emergency funds?



Money Mini Blog

Hope you are having a great week.  For today’s Simple Inspiration Interview, I am please to welcome Kalen Bruce from Money MiniBlog.   I am sure many of you can relate to Kalen’s story.  He and his wife were in debt for approximately $24,000 and one day decide they did not want to have the unnecessary debt any longer.  Today they are debt-free and working to build their wealth.  You can read more of Kalen’s work on his blog,, where he writes short, sweet and simple articles on money and productivity.  He likes to pack his writing with useful information and resources, while keeping it simple and brief. You can download his free book, Financial Freedom on a Full Schedule, in which he will show you how to simplify your finances to be able to accomplish all your financial goals even if you’re limited with your time.  It’s easier than you think.

Let’s learn how Kalen has simplify his finances:

What event lead you to simplify your finances?

After several years of not being able to effectively manage my finances, I realized that there had to be an easier way. I had no system or rhythm to the way I handled my finances, so I sought out teaching to get a better grip on my finances and simplify the process.

What area of your financial life needed the most simplification?

The most confusing and unorganized part of my financial life would have been my bills. I had no system for paying them. I didn’t have a system for paying on time or for having enough money in my account to make sure I could afford to pay them in the first place. Once I developed a bill payment schedule and starting writing everything down, my life got easier.

What steps have you taken to simplify your financial life?

I have taken several steps to simplify my financial life, because I believe simplicity is the key to consistency. The most important step would have to be automation. The more areas I can automate, the more time I have to focus on the important things.

What was your biggest challenge or roadblock when it came simplifying?

My biggest challenge was my subconscious desire to complicate things. I think we all think most things are harder than they are and overcoming that was a challenge for me. Realizing that finances can be simple and understandable was a major milestone in my life.

What app or tool helped you the most when it came to simplifying?

GoodBudget helps me to simplify my budget and my finances. Personal Capital gives me an overall view of my finances with my investments included. I always have my phone on me, so inputting all of my spending when it happens makes my life much simpler. As far as time and task management, I use Timeful; it’s a great app for tracking your to-do list, putting tasks in your calendar and adding reoccurring tasks.

How has simplifying changed your life?

I have learned that the simpler my life is, the more I can accomplish. Simplifying not only saves time, but it also saves mental and physical energy. I’m always trying to simplify every area of my life to accomplish more overall.

Are there any areas of your finances that you still need to simplify?

Since I am a finance and productivity writer, I feel like my finances are really about as simple as I am capable of making them, at this point in my life. If I had to pick one area to make even simpler, it would be investing. I have a tendency to get too excited about all of my different options, which leads me to make investing more difficult than it needs to be.

What advice or tips would you give to others who want to simplify their finances?

The best way to simplify is to run everything you do through a 3 part checklist. For each task you are completing on a regular basis, ask yourself if it can be eliminated, automated or delegated. If you are unable to do any of those, you will have to find a system to make the task as simple and productive as possible. Use tools, such as apps and software, to help you simplify every area of your life, but make sure the tool isn’t just complicating things. Sometimes planning is best done with a pen and a piece of paper. Whichever type of tool works best for you, use it!

Do you have an emergency fund established, if so how did you determine the amount needed to fund it?

I do have an emergency fund established. I believe an emergency fund is the foundation of healthy finances; it’s the first step. I determined the amount needed to fund it by determining what my living expenses would be in the case of an emergency. Right now I spend a lot of money on things that I would give up if I lost my job, so since my emergency fund is earning very little interest, I want to keep it as small as I can, while still being fully funded. I figured the bare-bones amount that my family would need to live on for a 6 month period and that’s exactly what my emergency fund includes.

What book, blog, or podcast would you suggest to someone who is looking to simplify or improve their finances?

I would recommend my blog and book, since simplifying finances is what I do. I would also suggest Dave Ramsey’s books and teaching (starting with The Total Money Makeover). He is very good at simplifying difficult topics, like insurance and investing. For a great podcast, I highly suggest Hal Elrod’s “Achieve Your Goals” podcast. It will improve every area of your life. I would suggest reading the great articles over at to simplify everything. Finally, I would suggest reading for great tips on simplifying your finances and becoming more productive. You can also find my writing on LifeHack (I am a regular contributor).

How long did it take you to simplify?

I think simplifying is a process that I have been involved with for longer than I can remember and I will keep attempting to simplify my life for the remainder of it.

What are your current financial goals?

I am debt-free, so right now my top financial goal is to increase my net worth to over $100,000, which I am very close to achieving. Most of my other financial goals involve self-educating to become a better investor. Right now I am very interested in value stock investing, so I have several reading goals to learn more about it.

How do you simplify the management of your business finances as well as your personal finances?

The main difference between simplifying personal vs business finances is the tools you use. I think managing business finances requires the use of accounting software and tools, whereas personal finances can be improved with tools, but they aren’t necessary.

Any other thoughts you would like to share with others who are looking to simplify?

As humans, we tend to over complicate almost everything. The first step to simplifying is usually just keeping it simple, instead of making it more complex…whatever it is! With everything, take the simplest approach that achieves the greatest results. Life doesn’t have to be so hard.

Kalen I appreciate you sharing your story on how you have simplified your finances and the tips to help others who are looking to simplify their financial lives. If you would like to read more articles from Kalen check out his blog Money MiniBlog or follow him on Twitter @MoneyMiniBlog.

To read previous interviews in the series click Simple Inspiration Interviews.

If you are interested in sharing how you have simplified your financial life, send me an email and I will follow up with you.

Enjoy the rest of your week. Til next time, take one step at a time to simplify.



Simple Financial Lifestyle 5 Valentine Gifts


Do you know what you are giving your loved ones for Valentine’s Day?  You have probably noticed Valentine’s Day  displays in stores reminding you that it’s is only a few days away.  So don’t forget.  This time of the year we show our love for our loved ones and will most likely purchase them gifts such as candy, flowers, card  or go out for a romantic dinner.

As you are thinking about your loved ones this weekend for Valentine’s Day, why not do something for them that they may not appreciate at this time but will when the time comes.

You are probably wondering what I am talking about.

I am talk about the day you die.

It will happen one day to all of us and it’s not a day that anyone looks forward to or is prepared for.  Since its 100% guaranteed to happen why not be prepared for when it happens instead of  not being prepared for it.

It’s one of the things no one likes talking about and many times are not prepared for.  But it is something everyone will face until a miracle drug is found that will make us younger and live longer.

Upon your death your family is left behind to handle the emotion of losing you which takes a toll.  In addition to that your family has to manage your remaining assets, lose income, and figuring out where all assets are held if no one else was involved in the financial aspect of your life. This will only add more stress to your family.

I have not discovered an easy way to handle the emotional stress of losing a loved one but there are ways to simplify managing your financial affairs once you are not there to manage them.

So instead of buying your loved more flowers, candy, cards, or whatever you decide they want for valentine’s day consider giving them these 5 gifts.

These gifts will not have immediate gratification now but they will appreciate you for it when the times comes.

Put a Will in Place

You may be saying to yourself why do I need a will I am not rich. Wills are not just for individuals who are wealthy. A will is a document which directs where your remaining assets will be distributed. If you don’t have a will your respective state will decide who receives your assets.

Why not make it easy on your loves as well as prevent family arguments over your possessions. You decide in your will who receives your possessions instead of your State or family members. Doing this will be a great gift to your loved ones.

Have Life Insurance in Place

Give your loved ones the gift of life insurance. You may ask why life insurance. Ask yourself this question – If I died today, would my family be placed in a financial burden? If the answer is no well you may not need life insurance. But for many, the answer would be yes. So instead of leaving your family with a financial burden upon your death consider purchasing life insurance.

Having life insurance will help cover any funeral costs, medical bills, or debts. It would also help replace your income which was lost upon your debt. Life will continue on for your loved ones so they will still have to pay monthly expenses, the mortgage or rent, and outstanding debts, and perhaps even continue saving for college and retirement.

It will always be difficult when you lose a loved one, but you don’t want to compound the emotional struggles by add financial difficulties. Life insurance helps make sure that the people you care about will be provided for financially, even if you’re not there to care for them yourself.

Review and Update Beneficiaries

You probably designated your beneficiary when you first established your IRA, 401K, or Life Insurance.  When was the last time you reviewed your designated beneficiaries  It may have been several years since you established those account.  Your life has possibly changed  since then.  You may have children now, maybe married, or possibly divorced.

You don’t want to pass away and  have designated someone other than your wife or children as beneficiary.  It could lead to a very challenging situation for those you leave behind.

Taking some time to review your beneficiaries will prevent those uncomfortable moments amongst family members.

Consolidate Accounts

One of the biggest challenges when a loved one passes away is finding where all of their assets are held.  If you have multiple accounts with multiple providers it makes gathering and finding these assets difficult.  Instead of having assets held in various place, consider consolidating your accounts.  Your family will love you for this.  As mentioned its difficult enough for your family without you but the time and effort finding these accounts would be another burden on them.

Consolidating accounts will enable you  to:
•    Reduce the number of statements you receive
•    Easier to keep track of your accounts
•    Better handle on your assets
•    Reduce fees

Tell Them About Assets

Make an effort to tell another family member about your assets. Whoever will handle your finances upon your death should know where to find documents such as your will, account statements, life insurance, retirement statements and banking account statements. If you use online banking make sure that individual has your passwords for all of your online access. Make a list of all your accounts and account numbers. Take the time to update this list whenever you open or close an account. Also make them aware of all of your income sources, assets, and debts so they can step in an manage your finances immediately. Knowing this information puts them in a better position.

This is just as important as knowing the location of the documents and what assets you have. Make sure they know the name and contact information for your accountant, attorney, and investment advisor as well as bank representative. Any other person who has knowledge of your finances. By knowing these individuals your family will be able to reach out to them for help if needed.

Preparing your loved ones for the day you are not there is important. You or they may not see the benefit now but it will be a huge benefit when that day does occur. It will happen unexpectedly so now is the time to get things in order.

Which of these gifts will you give your loved one for Valentine’s Day?



Simple Inspiration Interview with David Weliver

by B Simple Interview Series

I have the pleasure to interview David Weliver for this week’s Simple Inspiration Interview.  David is founder of Money Under 30. Money Under 30 provides simple, non-judgmental financial advice for young professionals. For almost 8 years David has been helping readers pay down debt, start investing, build credit and work towards other financial goals like […]

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8 Excuses That Are Preventing You From Saving

by B Simple Savings

How many times have you said I want to or I should but… We all have good intentions to do things but we seem to come up with an excuse or a reason not to do something.  This creates a road block which prevents us from accomplishing what we set out to achieve.  I say […]

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Simple Inspiration Interview with Elle from Couple Money Podcast

by B Simple Interview Series

  It’s great to welcome Elle from Couple Money this week for our weekly Simple Inspiration Interview. Elle has been blogging about marriage and finances for a little over seven years, but she recently launched the Couple Money Podcast to provide another resource for couples looking to build their finances together. Most money fights are […]

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Do You Have Financial Game Plan in Place?

by B Simple Planning

Have you designed your financial game plan so you can achieve the financial goals you set for yourself? As you are probably are aware, this year’s Super Bowl teams are set. The Seattle Seahawks will face the New England Patriots in Super Bowl 49. I am hoping for a better game this year compared to […]

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