Keeping the financial books in order may not be an easy task for many, but it does require some effort and time. If your daily schedule is so packed that you can't even spare a few minutes a day to review your budget, track on your spending, or check on your savings’ progress, you could be letting money slip through your bank account without even realizing it. If you are the type of person that do not spend much time looking into your finances, here are three things you have to do to at least keep your finances on the right track.
1. Be on Top of Your Finances
When you've got more than one savings accounts, a checking account, two or three credit cards, a personal loan and a mortgage, staying on top of them all can be overwhelming. Fortunately, we have a program for you to manage your finances. With MyFinance Budget Portfolio, you can update your savings account, loan accounts, credit card accounts, and mortgage accounts. The system analyzes your accounts to see what you're paying in fees and recommends monthly tips to improve your credit performance, by recommending credit cards with lower finance charges, or recommending credit cards that suits your lifestyle based on your category of spending. And keeps you alert on your bill payment due dates. You wont have to worry about security details about your accounts, because MyFinance will never request for your personal financial information from you, and you are entering your details as an anonymous user where only you can view what you have, without any confidential personal or banking information. Good news is that you can set up a budget portfolio, create your credit profile and access it straight from your phone.
2. Automate Your Finances
If paying your bills is taking up a lot of your time, try setting your bill payments on auto debit, or also known as standing instruction. When you set up automatic payments for your bills or even for your credit card & loans, you won't have to worry about the late payment or the interest charges that comes with it. Most banks offer auto debit at no extra charges, so it might be a good idea for you to take advantage of these features. It will just take a few minutes to apply by calling the Bank’s customer service, and providing them the bill’s account number and your credit card information. And this very few minutes will save you many more hours over the coming months.
3. Consolidate Your Credit Loans and Benefit from The Lower Interest Charges
Using MyFinance Budget Portfolio to manage your accounts can relieve some of your financial headaches. But you can take it a step further by consolidating your credit loans or reducing your credit cards you have. If you've got balances on five or six credit cards, for example, transferring them to only a few cards with a lower or zero percentage balance transfer rate means you will be consolidating your credit cards to only a few payments to keep up with and the best part is that you will be paying less in interest charges (at least temporarily).
Neglecting your finances is always common for people with very busy lifestyles. And it can be very financially unhealthy when it comes and infect your banking accounts. While you probably can't afford to completely neglect your finances, finding for ways to squeeze some time into managing your money could be a smart move and will benefit you in the long run.