In his new book Happy About An Extra Hour Every Day author Nicolas Soergel offers five simple time saving financial strategies. One upside to the economic downturn is that it gives you a good excuse to review your finances and find ways to save time managing them. The more you can simplify your finances, the more time you will gain to put into your other goals.
1) Go for annual payments
Instead of choosing the option of paying your bills quarterly, or bi-annually, see which of the companies you do business with will accept annual payments. Many companies offer additional discounts for annual payment schemes since it saves them processing time.
2) Go with direct debit
If you want to eliminate the risk of late payments and the related penalties and time hassles that come with them, switch to direct debit or automatic payment for the companies you trust.
3) Create templates for most payables
Internet banking is a great alternative since it reduces the amount of time you have to spend physically going to the bank. One additional advantage is that most banking software allows you to create and save templates for payments you make from time to time, as well as on a monthly basis.
4) Consolidate your resources
Do you have two or three savings accounts when you could easily reduce it to one? How about credit cards? The more you consolidate the financial institutions you deal with, the less time you will spend managing them.
Return next week to learn how to shift your spending towards your goals.
Please note that this article is copyrighted by Karen Leland. If you would like to reprint any or all of it on your blog or website for non-commercial purposes you are welcome to do so, provided you give credit and a live link to her blog As Soon As I Finish Carving The Ice Sculpture: True Confessions of An Overachiever at www.karenleland.com
Karen Leland is the bestselling author of six books including Time Management In An Instant: 60 Ways to Make the Most of Your Day. She is the co-founder of Sterling Consulting Group, which helps organizations and individuals learn how to fight distraction and find their focus in a wired world. For more information please contact: [email protected]
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