Hopefully you got around to completing some of the money tasks I gave you in the last newsletter. Remember, you have to come in from the sun once in a while! I'm not asking you to do that much - who wants to create a brand new spending plan now? But if you take half an hour to focus on these easy summer money tips you will be that much more organized in September. Who wouldn't want their finances more simplified? Don't forget to register for my teleclass on 7/30 "3 Ways to Whip Your Finances Into Shape"!
1) Are you paying your bills online? Most of you can answer "YES!". But I still meet at least one or two folks every month that are paying their bills the old-fashioned way. If this is you - get online and pay your bills that way! Why? It saves you time, money, and stress. It helps you view and keep better track of your account balances and avoid late payments. You can also check to see if checks have cleared and set up automatic payments for recurring charges.
2) Raise the deductibles on your health, car, and home owner’s insurance. It still keeps you insured but saves on your immediate expenses. It's one phone call that can start saving you hundreds of dollars a year!
3) Consider switching to a Credit Union. You can find local ones at http://www.ncua.gov/DataApps/ResearchCU/Pages/default.aspx.
4) If your accounts are at more than one investment firm, consolidate to a no-load mutual fund company such as Fidelity or Vanguard. Start now and finish the process of selecting new funds in September. It can take a few weeks.
5) Got extra gift cards in your wallet? Clean them out and spend them. Take that extra money you would have spent and put it into savings. You can also swap them atPlasticJungle.com.
6) Find five small items to cut out of your budget. You won’t even miss them. Even if each cut saves only $10 per month, they will add up. Start with your cell phone plan, newspaper delivery or cell phone insurance (I just found a $7 monthly charge on my cell phone I had no idea about!).
7) Pay your mortgage by setting up an automatic withdrawal from your bank account. You will keep your credit intact and won’t forget to pay on time.