Do you feel like your finances are spiraling out of control? Is it difficult to find the time to balance your checkbook every month? Are bills late and important paperwork forgotten because you just feel so overwhelmed by what you should be doing? The easiest solution is to just spend five minutes a day looking at your financial picture.
It really only takes about five minutes to glance at your balances, record any receipts you may have and check to see how much you have left in each category. If you are married this activity works best if you do it together. That way you both know where you stand and will not overspend inadvertently. Since you are doing this everyday, the tasks will not take as long and so they will not be as overwhelming.
Another thing you may consider spending five or ten minutes a day on is your investing. If you are at a point that you are investing money, it is a good idea to keep an eye on things. You can spend this time reading about trends, books on investing, and checking on your investments. It is important to not become obsessed and constantly move money around, because it is an easy way to lose a lot of money. However, by studying the trends and the market you can make better decisions.
If you are working towards reducing debt you may want to take five minutes each day to review ways that you have cut expenses. You may also want to brainstorm additional ways to save money. You can also think of additional ways to increase your income. As you do the things you have listed, you will be able to achieve your goals more quickly. After you are out of debt you may want to continue some of these habits so that you can save more aggressively.
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