Simplifying your finances

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Simplifying your finances is often one of the most popular New Year’s resolutions.  Here are some suggestions.

  • Pay as many of your bills as possible with autopay on your credit card to get rewards, thru the biller’s website, or with your bank’s online bill service.
  • Put as many of your savings goals as possible on autopay with direct routing of savings amounts to relevant savings and investment accounts.
  • Consolidate multiple retirement, banking, and brokerage accounts.  You may want to keep multiple savings accounts for multiple savings goals.
  • Develop a plan to get out of debt.
  • Put all tax records into an accordion folder as you receive them.
  • Review your budget for needs, savings, debt pay offs, and wants. Put your leftover disposable income on a pre-paid debit card.  When the card is empty, your discretionary spending is done for the month.
  • Diversify your investments, but also keep them simple by avoiding having too many to manage and rebalance.  The simplest investments are index ETFs, balanced funds, and target date funds.

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