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Simplify Your Finances

09/09/2019 - Financial Planners, Financial Wellness & Life Planning, Budgeting

Financial Planning Graphs

It’s easier to get balance in your life when you simplify things. Here are a few steps you can use to help streamline your finances.

1. Consolidate Your Accounts

If you have multiple checking or savings accounts, consolidate them to one of each – and do the same with retirement accounts. This will reduce paperwork and time spent checking different accounts. With only one account, you’re less likely to miss a statement or payment. If you have several retirement accounts from job changes, you can roll these plans into an IRA or other employer-sponsored plan.

2. Stop the Paper Flow

If you’re still receiving statements in the mail, enroll in eStatements so you can manage your accounts at your convenience – 24/7. Click here to learn more or enroll now. For loans, you can get reminders of when payments are due, or set up automated payments to your account (and likely save money with a better rate).

3. Only Use One Credit Card

If you have multiple credit cards, try to pay each of them off starting with the card with the highest interest rate. Get your stack of cards down to two if possible: one for emergencies (such as an unexpected medical bill or car repair) and one you use regularly. This way, you only have to keep track of your everyday purchases and expenses associated with one account.

4. Work to Become Debt-Free

Budget your spending so your income is more than your outgoing expenses. If you buy less “stuff,” you’ll have more to pay your bills, save, and even splurge on things. Work to become debt-free and try to increase your savings as well. Living this way can reduce a lot of unnecessary stress.

By taking steps to simplify your finances, you’ll have more time to relax and enjoy life. To speak with someone at WesBanco about ways to simplify your finances visit your local WesBanco Banking Center here or call 800-905-9043.

Content is for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author.

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