Simplify Your Financial Life

Are you frustrated by the amount of time you spend managing your financial affairs and by how complicated your finances have become? Maybe you need to simplify. Not only can simplifying save you time, it can reduce uncertainty and save you money.

A fundamental step to simplification is to focus on what’s important. Decide what your financial goals are, and focus on achieving them. Here are some specific tips to help simplify your financial life:

• Reduce the amount of paper you handle. For example, if you have more than one checking account, consider consolidating. Ditto for your brokerage accounts, retirement accounts, and credit cards. If you have separate mutual fund accounts, transfer them into a brokerage account. Besides reducing the amount of paper you handle, consolidating allows you to more easily evaluate your financial position. It can also save you time and money at tax time.

• Minimize the time required to monitor your investments. If you spend significant time following the rise and fall of your individual stocks, consider keeping more of your portfolio in mutual funds. If you spend too much time monitoring your mutual funds, consider cutting back on the number of funds you own. However, do continue to keep your investments diversified.

• Set up a simple filing system. Then use it to eliminate clutter and make documents easier to find. Consider using one of the popular computer programs to simplify bill paying, keep track of tax deductions and other expenses, and help evaluate your investment performance.

Take a few moments now to simplify your finances, then relax and enjoy the extra hours you have created for yourself. Call us if you need help designing a simplification plan that works for you.

Related Information:  
        Financial Planning For Women
        Financial Resolutions for a New Year & a New Century
        Personal Financial Planning
        Review and Rebalance Your Investment Portfolio
        Review Your Mutual Funds
        Take Advantage of Falling Interest Rates

© Copyright 2002 Raymond S. Kulzick. All rights reserved. 020105.

This publication provides business, financial planning, and/or tax information to our clients. All material is for general information only and should not be acted upon without seeking appropriate professional assistance. Read Disclaimer.