Organization Tips to Get Your Financial Life in Order | St. Johns Bank
When it comes to money, it can be easy to get overwhelmed. Many people struggle with money stress, even those who have comfortable incomes, and once you begin to worry about it, it can be difficult to get back on track.
Fortunately, with a bit of financial organization, you can get a better handle on your money and stress less.
Organizing your finances can look different to a lot of people, but below, we will be reviewing some of our favorite tips to get you started. Read on to learn more!
Smart Tips for Organizing Your Financial Life
Pay your bills right away. Letting bills pile up can be a major source of stress, and it is also a sure way to end up with something slipping through the cracks. Unless your bills are all due at the same time, paying them all at once is likely not feasible. Instead, pay them as soon as they pop up so you can mark them off your to-do list and be certain the task has been completed each month.
Audit your finances regularly. Did you know that 65% of Americans are not sure what they spent last month? This can be a major source of stress, and can lead to excess expenses you were not even aware of. Be sure you are checking bank and credit card statements regularly so you know exactly what is going on with every dollar of yours.
Close out any old accounts. Having your money split up between multiple accounts can be quite overwhelming when you try to get a quick snapshot of your finances. Ideally, you will have only a few accounts: a checking account, a savings account and one account that you pay household expenses out of. If you have a lot of leftover accounts from years gone by, now is a great time to consolidate it all.
Always check your paycheck. While direct deposit is a wonderfully convenient thing, it can lead to workers not checking their wages—which means that sometimes, accounting errors are not being caught. Always check your pay stub once your check is deposited into your account—your company will likely have an online portal where you can do this—to make sure your withholding, taxes and payment amounts are all correct.
If you need help getting your finances in order, that is what we are here for! Contact us today to learn about the accounts we have to offer.