What are your Personal Financial Ugly Ducklings?

by B Simple

in Budgeting, Credit Card, Mindset, Planning

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.
Here are some ugly ducks you can turn into swans which will help you simplify your personal finances:

No financial goals – You have no long-term or short-term personal finance goals.  If you establish goals you can simplify your personal finances quicker.

Not living on a budget - You do not set a monthly or annual budget.  You are just spending money without setting limits.  Establish a budget will enable you to reach your financial goals you set and help you take control of your finances. Gazelle budget is a simple solution to help establish a monthly budget.

Not planning for the unexpected – You do not have an emergency plan in place in case of an emergency.  Establishing an emergency fund is like the goose that laid the golden egg when you are finances are in a bind due to an unexpected situation.

Not planning – You have not planned for the expected things that you know will happen in your life.  Read this to find out what you can plan for.  Establishing a plan for those expected financial situations will take the pressure off of you and your finances because you have planned for them in advance.

No estate plan – You have no plan in place to handle your assets upon your death.  Read this if you do not believe you need a will.  You do not know when it will occur but you can plan for it.  Establishing a plan prior to your death is much easier on your family.  You may not see the benefit but your family will definitely benefit and save some money in the process.

Too many credit cards – You have more than 3 credit cards with balances on them and you do not have plan in place to reduce your debt.  Read this to make sure you are practicing safe credit card usage. Reducing the number of cards you carry and the outstanding balances on them will simplify your personal finance.  This is one ugly duckling that you must turn into a swan rather quickly.  If not it can get uglier rather quickly.

Not automating – You are still not using online banking, still cashing your payroll checks, or mailing you bill payments.  Establish online banking which will enable you to pay your bills on line.  Setup automatic deposit of your payroll checks to simplify your finance and save you time.

Too much paper – Is your mailbox screaming for relieve because you receive so much mail?  Go paperless is more convenient  and will save you time.

Forgetting due dates – Do you seem to forget the due dates of your bills or just forget to put the bill in the mailbox.  Setting up your bills on your credit card or bill pay service will help you eliminate forgetting to pay your bill on time as well as save you from paying those late fees.

Living beyond your means - Trying to keep up with the your co-workers, neighbors and friends is causing you some financial stress but having the latest or newest whatever is more important.   Stop trying to keep up.  It will reduce your stress and enable you to live a healthier and wealthier financial lifestyle.  It will trust me.


Take some time to review your current financial situation and identify your financial ugly ducklings and take action by turning the ugly duckling into a financial swan.  Just like a duckling will not turn into a swan over night is the same with your personal finances.  You must take one step at a time but if you take action I am sure your ugly duck will turn into a swan quicker than you planned.

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{ 7 comments… read them below or add one }


Wow this is a comprehensive no-stone-left-unturned list of financial ugly ducklings!
Great post!

I’m guilty of the estate planning, but otherwise, I think I’m very swan-like lol
.-= youngandthrifty´s last blog ..Analysing Your Debt and Cutting Down on Spending =-.

Khaleef @ KNS Financial

I remember when my finances were characterized by every one of those things you list! If anyone is in that state, they have to change immediately!
.-= Khaleef @ KNS Financial´s last blog ..Make Money Online by Offering Solutions =-.


My biggest “no no” is impulse purchasing in supermarkets… which I know I end up doing it I do not write a list before I go food shopping. So I suppose what I could argue is that it’s not writing lists that’s my ugly duckling.
.-= Andrea´s last blog ..More Time to take PPI Claims to Ombudsman =-.

Jason @ Redeeming Riches

Missing due dates trips me up quite a bit. I know, I know it’s ridiculous! Clever post!
.-= Jason @ Redeeming Riches´s last blog ..How to Honor God in the Workplace – A Command for Managers =-.

Financial Samurai

There are definitely a lot of things I can work on. One of them is to actually SPEND MORE and live it up a little.
.-= Financial Samurai´s last blog ..Blink And Blink Again =-.


I think you covered all bases there!

I used to wait until bills were due, but now I pay them promptly. Now that I get them via email, it’s too easy to forget about them if I don’t deal with it right away.
.-= eemusings´s last blog ..Link love Powered by nachos and simple human decency =-.

Roshawn @ Watson Inc

I think if we look hard enough, most of us have some PF ugly duckling. I feel my wife and I could be more balanced in our spending but maybe we can work on that later :)
.-= Roshawn @ Watson Inc´s last blog ..The Problem with Being Budget Minded is Other People =-.

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