Image Credits: pixabay.com (License: CC0 Public Domain)
In the daily hustle of the city, being a busy bee is hard work but, that is not an excuse to remain untidy with your finances!
Simply spare at least 20 minutes of your time to manage your own finances with these four ways:
1. IDENTIFY YOUR FINANCIAL VALUES AND GOALS
Without underlying values and goals about money, you would not be able to fully integrate it to your life. Thus, the essential first step is asking yourself: What are the most important things to me (i.e., values) and how do I get there (i.e., goals)?
Develop a habit of financial goal setting to know where you are going and to plan how you can get there. Write down your financial goals with a trusted witness and contemplate the monetary milestone you would like to accomplish in the next 2 months to 2 years. Track down your monthly progress accordingly.
2. TIDY UP YOUR WALLET
Like your study or workspace, you will be able to clear your thoughts better when your wallet is organized and neatly placed. Fill the individual pockets with your bank and identification cards so you can easily take it out when needed. Then, spend a few minutes emptying your wallet of old receipts and other clutter.
3. REDUCE YOUR FINANCIAL ACCOUNTS
In a world filled with a certain bank account card for all your needs, most people have several numbers of bank or credit card accounts. The complication starts when the credit card for travel, for petrol, and for shopping sends bills at the same time. Also, you may have different bank accounts for higher interest, minimal fees, and rebates.
More than being complicated, the constant shuffling between these accounts can get messy. Simplify your life by closing out one account per week or you may consolidate all your accounts online.
4. BUILD AN EMERGENCY FUND
Do you have an emergency fund to protect you from unforeseen events? If you do, it is best to put it on a separate account with an online access so you can easily tap on it if the need rises.
If you do not, the best time to build one is now! Consider joining the 52-Week Money Challenge (available here). The challenge starts off by saving S$1 a week and by the end of the year, you will be able to save up to S$1,378!
Image Credits: pixabay.com (License: CC0 Public Domain)
