You’ll eliminate paper clutter while also reducing the likelihood of overspending since you only have so much money in your checking account. Instead, set up a digital wallet (Apple Pay ®, Google Pay ™, etc.) that contains your debit card info so you can pay bills or make purchases. However, if you’re trying to declutter, carrying around wads of bills kind of defeats the purpose. Studies show that people generally spend less when they use cash versus credit cards 1 – in part because you can’t go over the amount in your wallet. If you can completely pay off a small debt, that’s one less bill you’ll have to worry about - physically and mentally. Obvious fact: Fewer debts = fewer bills/statements. Could you combine savings and money market accounts together for a higher interest rate? What about retirement accounts, 401(k)s and IRAs? How about student loan consolidation for multiple loans? Do your research, and consult a financial advisor if you need more guidance. If you have accounts at multiple banks or credit unions, find out whether having separate accounts actually benefits you. If a company doesn’t offer Autopay, set up a monthly calendar reminder of that bill’s due date on your phone. Schedule it out: Spread out your due dates so that everything isn’t due on the 1st. Of course, this only works if you actually have money in your account to pay the bill, so consider using one of your bank or credit union accounts (like a free checking account) solely for this purpose. Look at all of the monthly expenses you elected to keep and sign up on online banking to have the bills automatically paid from your bank account by their due date. ![]() Contact your financial advisor for more information on how to ensure your money is getting to the right place. Some investment platforms and apps allow for automatic transfer to investment accounts. Set up direct deposit for your paycheck, with retirement and savings automatically deposited or transferred into the appropriate accounts. Automate your accounts and investments.Īnytime you can move money automatically, you’ll save time and reduce mental clutter. ![]() We’re not saying that you can’t splurge on Barkbox or Ipsy, but do you really need 10 pink lipsticks? Will another chew toy make Fido love you more? If you have so many recurring subscriptions that you can’t even remember them all - Hulu, car wash, massages, oh my! - it could be time to pare down. It will also work great for credit card offers, marketing flyers and other junk mail. Purchase a secure cross-cut shredder to dispose of paperwork and other financial documents after you scan them. Yes, there are still some dinosaurs that don’t offer online statements and billing. Get help: If you’re having trouble keeping track of multiple statements, try an app like Mint ®, which has bill monitoring tools built in.
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