Develop financial peace of mind by simplifying your personal finances to create a healthier and wealthier lifestyle
In order to simplify your personal finances, you must identify your financial ugly ducklings and turn them into financial swans. What I mean by this is if you want to simplify your financial life so you can manage your finances better you must identify your bad financial habits which I refer to as your ugly ducklings and take action to turn this bad financial habits into a positive financial situation or what I refer to as financial swan.
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Automating your personal finances is key to simplifying your finances. It is what I recommend to everyone. Automating makes things a lot easier as well as enables you to spend less time sorting your mail and paying your bills and more time doing the things you want to do. Yes automating your finances will change your life forever but you can not just automate and forget about your bills. Well you can but you may discover some additional charges several months later or worse you may end up having some services disconnected if you forget. I am not saying do not automate your finances but I am saying you want to put some checks and balances in place to monitor your finances to make sure everything is working as planned. Here are some things you want to put in place to make sure everything is working properly when you automate your personal finances.
REVIEW YOUR STATEMENTS – reviewing your monthly statement to make sure the bill payment was received on time and you did not incur any late fess. Also want to make sure the payment date you established for the payment to go out provides enough time so it is processed on time. Many times we just pay the bill since it automated without reviewing the bill. After its paid its to late to dispute but you can always try.
I recently posted Who else wants to simplify their bill paying? discuss how to set up a simplified bill paying system. Now would like to show you how you can automate your bill paying system to make it easier to simplify your personal finances. Here are five ways you can automate your bill paying system and eliminate the need to write checks which can save you time and money.
Use bill pay service – Sign up for one of the many bill pay services now available to help you with your bill paying. By using bill pay service, you will eliminate the need to sit down with your check book and write out those monthly checks to pay bills. By using bill pay service you can almost eliminate your check book for good. Check with your current bank first to see what bill pay service they offer you as an existing customer.
