If you’re young and just starting out in life or a ‘seasoned’ veteran, you have many things in common–one of which is the desire to assure your family is protected in case of emergency. That means insurance coverage…enough to cover you in the event of unexpected trouble. You can’t be too careful. Without insurance the first medical disaster will wipe you out, and it may take years to catch up. In order to protect yourself from possible financial ruin it’s advisable to make sure you’re covered in case of disaster. Of course, that’s not always possible, especially in this economy, and particularly if you’re recently married or out on your own for the first time. Money may be tight. You’ve saved a little for a rainy day, but you know it won’t be enough if something terrible happens. Is there a way to protect yourself and your family’s medical needs? Yes there is. It’s called a health savings account (HSA.)

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If you are looking to simplify your personal finances a good way to help you simplify them would be to build a financial fortress. Webster dictionary defines a

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Do you are your spouse manage all of your financial matters? If so what happens to your personal finances if the other is hospitalized or unexpectedly passes away? Would the non-CFO of the house know what to do to manage the family finances? In my post Financially Prepare your Spouse in order to Simplify I explain what the non-spouse needs to know in order to manage the family finances. Now its time to take it a step further. In order to make it even easier for the non-CFO spouse, you must create a file to explain what needs to be done to manage the family finances. I would label this file Emergency Financial File. This file should be filed with all of your other financial documents or in a location your spouse has access to and can quickly put their hands on it when needed. I would even purchase a red folder so it stands out from all of your other files.

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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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Is finding the time preventing you from simplifying your personal finances?  Simplifying your personal finances will enable you to  spend more time doing the things you enjoy.  If currently do not manage your time now, you may have a difficult time simplifying your personal finances.  So in order to simplify, you have to mange your time more efficient.  You can do this by setting up automatic deposits,  automatic debits and automating your bills are some of the ways you can manage your time more efficiently.

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Looking to simplify your personal finances.  You must first take action by planting financial seeds.  Planting financial seeds is just like planting a garden.  You must first plant the seeds in order for the plants to grow.  So what financial seeds must you plant to get your financial simplicity garden to grow.

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We have all heard that you should have an emergency fund in place for those unexpected expenses or emergencies. It is something I believe is important if you want to simplify your personal finances. Not only do you want to plan for the unexpected you also want to plan for the expected. Yes, it sounds like common sense but you have plan for those expected events in life. By having a plan for the expected events as well as an emergency fund in place for the unexpected you will simplify your finances.

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In order to simplify your personal finances you must be prepared for the unexpected. With the current global economic state that we are currently living in, are you prepared if you lost your job tomorrow? You may not feel like your job is at risk but you never know. So have you considered how you would handle an unexpected or even expected job loss? What would you do?

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Simplify your personal finances by making sure your spouse or loved ones have an understanding of your financial picture. In many households the husband or the wife is the sole chief financial officer in the household. This means that the chosen individual handles all or the majority of the family financial matters without the much involvement from other spouse. This can cause financial stress if the CFO of the household becomes ill and unable to manage the household finances or even worse passes away. This leaves the other spouse the non-CFO trying to figure out what is going on and is left to manage the finances of the household. This can be very challenging task especially for someone who has never managed the finances before and all of a sudden is forced into that role. To lessen the burden on your spouse and loved ones who must now manage the family finances here are some tips to help simplify your finances:

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The Super Bowl will be played in a few hours when my hometown Saints will face the Colts. To prepare for this big day each team has put in hours of preparation time so they can execute their game plan to win the game.  The Saints have designed a defensive game plan to stop the Colts and Peyton Manning from scoring while the Colts have designed a defensive game plan to stop the Saints and Drew Brees ( I hoping the Colts game plan does not work). Just like each Super Bowl team has designed their offensive and defensive game plans to win the Super Bowl. You should design your own personal financial game plan to help you simplify your personal finances so you can win the personal finance game.

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