Reasons why I have decided not to simplify my personal finances

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I am always discussing ways to help you simplify your personal finances.  But many times I hear so many excuses why someone has not simplified their personal finances.  I have decided to give up and stop trying to simplify my personal finances.  What’s the point of simplifying?  There are so many conveniences that I would have to give up  if I simplify my personal finances.  So here are my reasons why I have decided to not simplify my personal finances:

Will never retire so I have decided not to save for retirement. I can instead spend the money on a new car maybe two.  I already have social security deducted from my pay check.  So why do I need to have additional funds put into a 401K.  Having the government set my asset allocate works for me. They do not lose money.  Social Security will be available when I am 65 at least 30 to 40 years from now.

Daily overdraft alert is the best value added service my bank offers.  For only $35.00 per occurrence they inform me that I need to put money in my account.  If they did not inform I would never know when I need to deposit my pay check.  Its a great reminder service and it is cheap.

Social hour in the teller line. Did you that you can meet some very interesting people while stand in line waiting for the bank teller at your local branch.  Friday afternoon seems like the most popular day of week.  The tellers are also very nice.  They personally make sure my check is deposited into my account.  I like the personal service and I don’t need to worry.  Its time well spent.

Late payment service charge.  All of my monthly bills allow me for a few extra dollars per month to pay my bill on my schedule.  I like that convenience.  I gives me more time to pay my bills.

ATM Convenience for little fee of $3.00 I can use any ATM machine I want.  You can’t beat that.  Why cross the street to use my bank’s ATM or drive around looking for my bank’s ATM when I have the convenience of using any ATM for a few bucks.

Unlimited check writing is the way to go.  You don’t have to worry about balancing your checkbook as long as you have checks in your checkbook.  Also balancing your checkbook takes to long.  I have daily overdraft alert already established so I can write as many checks as I like without any problems.  If there is a problem my bank will send me a letter to let me know.  Also writing a check to pay my bills also gives me more time to pay the bill since it will take a couple of days to clear plus the mail time it takes to get there.  That’s why I like the late fee charge service.

Multiple credit cards. I like having multiple credit cards with me at all times you never know when you may need to buy something.  If one does not work just keep trying until you find one that has not reached its limit.  The best part about having multiple cards is that I can purchase anything I want each month and I don’t even have to pay the entire bill.  The credit card company provides me with the amount they recommend I pay.  I love the rewards I receive with each card and I only have to pay an annual fee and they provide me with all kinds of services that I never get to use but plan on using them one day.

Financially lucky so who needs a emergency fund. I never have any financial emergencies.  Why establish an emergency fund when I can just charge it to my credit card and I can pay the payment the credit card company recommends.

Prefer the reliable mail service instead of signing up for online banking.  What will the computer show me that my monthly statement won’t show me.  I won’t lose a paper statement but I may forget my online password.  I prefer having the postal service deliver my bills to make sure it will arrive on time instead of relying on my bank to pay my bills.  Just not sure they will get it there on time and my bank is not in the delivery business. So why give up all of these conveniences to simplify my personal finances.

What are your thoughts?  Why haven’t you simplified your finances? If you are still wondering if you should begin to simplify your finances and not sure where to begin sign up for my Simple Financial Lifestyle newsletter and receive a 14 day e-course to help you.

Take one step at a time to simplify your personal finances.

Simple Personal Financial Tip – Mortgage Payment

Many of us have them but probably wish we could eliminate them. We usually carry them for 30 years but would like to eliminate them earlier. That would be your monthly mortgage payment. If you can eliminate them sooner you will increase your monthly cashflow and simplify your personal finances. This week’s simple tips offer you some ways to help reduce your monthly mortgage payment so you can live a simplified financial lifestyle.

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Here are this week’s tips to help you reduce your mortgage payment:

Refinance your mortgage - Interest rates are low now. Check to see if you should refinance your existing mortgage it may save you money. This post 7 questions to ask to help refinance your mortgage offers some tips to help you refinance your mortgage.

Eliminate Principal Mortgage Insurance (PMI) – If you put less than 20% down on your mortgage your mortgage company probably required you to pay monthly PMI. You should check to see if you have 20% equity in your home now so you can eliminate this monthly payment.

Make extra payments – Eliminating your monthly mortgage payment should be a long term goal if you are looking to live a simplified financial lifestyle. To do this consider making an additional principal payment to your mortgage so you can eliminate this debt quicker over time.

Review your insurance and taxes -Review your current homeowner’s insurance to see if you are properly insured.  While reviewing your insurance coverage, receive insurance quotes from other companies to see if you can lower your annual premium.  Also review your property taxes to make sure you are paying the appropriate amount of taxes based on the current value of your home.  Consider protesting if you believe you are paying more than your property is currently worth.

Automate your payment – many times mortgage companies will provide you a discount on your interest rate if you have your mortgage set up for automate payment.  So if you are refinancing your mortgage or in the process of purchasing a new home consider automatic payment of your mortgage.  Doing this will not only save you some money but it can also save you time and help you eliminate late fees.

ACTION STEP

Review your current mortgage to see if you can implement any of these tips to help you reduce your mortgage payment so you can save money and simplify your personal finances.

 

Til next week take one step at a time to simplify your personal financial life.