For most of us, it seems there’s never an opportune time to properly manage our finances. It may seem like you bounce from one financial crisis to the next, without ever having a chance to get your feet on solid ground or work out a plan for your finances.
But just like we all make an effort in spring to clean our homes and start new projects, this time of the year can also be a great opportunity for you to tidy up your finances and get your financial house in order. There are countless benefits to organizing your finances, from not having to be inconvenienced with bills each month, to saving hundreds of dollar.
Here’s our guide on just a few of the ways you can get them organized this Spring.
Tracking all of your expenses isn’t as complicated as you might think, but it can be an intimidating prospect to most beginners. As a baby step to ease yourself into the idea, try just tracking one category of expense - for example, food. Start keeping track of how much you spend on food from month to month, and graph out what the result looks like. Make sure to take note of where you bought food, and break it down even further by type: groceries, fast food, farmer’s market, etc.
Having such a detailed idea of where your money is going in just one spending category will help inform your future financial decisions: maybe you decide you should cut down on how often you eat fast food, or maybe that it’s too expensive to buy from your favorite grocery store. Whatever decisions you come to, having more information is never a bad thing, and even though you’re only doing it in one spending category, it’ll help how you think holistically about your finances decisions moving forward.
In today’s digital world, there’s really no reason that you shouldn’t at least partially automate some aspects of your spending and saving. While we may not have the shiny personal robot servants we were promised in the ‘70s, virtually all banks give you the option to automate what happens to your money once it reaches your account.
Instead of manually moving money into your savings account each month, automate it so the amount you want to save is automatically taken out of your paycheck each month and deposited directly to your savings account. While you are at it, you can also automate your bill pay so that you never have to worry about missing a credit card or utility payment ever again.
Anything that can help cut down on the amount of time you have to devote to allocating your money to work for you each month should be used to your advantage, and automating finances takes that burden off your shoulders.
Another thing that can take the financial burden off your shoulders is a payday loan, and familiarizing yourself with them is something you should explore this spring. If you have an emergency that can’t wait, a payday loan could help you access fast cash from your next paycheck, but too often in the heat of the moment people find themselves not knowing “where are payday loans near me?”
To make sure that isn’t you, use a reputable payday loan provider in your area. Beginning the approval process is fast and easy - just fill out a simple online request form to get a call back from a store near you. Spring has traditionally been a time of year where we make fresh starts, and part of this process should always include a thorough look at your finances to determine not just where you are, but where you want to be.