Not all people have been born to become organizational wizards, but should you’d like to obtain forward with your cash, then you ‘ve got to obtain it under your control. It’s that the only way that you ‘ll obtain any of the major things, like paying off debt, even taking a true holiday, purchasing a home or saving for your retirement.
We obtain that, though. Not all people keep everything neatly registered, color-coded, alphabetized and prioritized. And also you don’t have to be. Here are seven things you can do – in seven days – to obtain your finances under control:
Day 1: Make a Budget That Works for YOU
This will probably be the most difficult item on the list – but also one of the most important – so let’s knock it out before all else: Create a budget. It’s one of the best ways to organize your money and lay the groundwork for hitting your goals.
But where to start? One of our favorite ways to budget is with the 50/20/30 method. It’s straightforward and offers a lot of flexibility. Here’s how it works:
- 50% of your income goes toward essentials.
- 20% goes toward financial goals.
- 30% goes toward personal spending.
Once you obtain the hang of it, you can tweak the ratios to fit your needs and your goals.
For example, if you want to pay off debt, you might need to allot more money to your financial goals category. If you live in an expensive city, then you might need to bump up your essentials ratio.
The key is to take some time to find what works best for you and your goals.
Day 2: Ask This Website to Pay Your Credit Card Bill This Month
When you think about your credit card debt, you probably feel anxious. It gets tricky keeping track of the balances, the minimum monthly payments and the super-high interest rates.
And while you’re stressing out, your credit card company is getting rich off the interest you pay. But a company called Fiona could help you pay off that bill as soon as tomorrow.
Here’s how it works: Fiona can match you with a low-interest loan you can use to pay off every credit card balance you have. The profit? You’re left with just one (organized!) bill to pay every month. And because the interest rate is so many lower, you can obtain out of debt so many faster. Plus, no credit card payment this month.
If your credit score is slightly 620, Fiona can help you borrow up to $100,000 (no collateral needed) with fixed rates starting at 3.84% and terms from 24 to 84 months.
Fiona won’t allow you to stand online or phone a lender. And should you’re concerned you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
All that credit card debt – and the stress that comes with it – could be gone by tomorrow, and you’ll be well on your way to financial success.
Day 3: Add up to 300 Points to Your Credit Score
When it comes to your credit score, it’s important to keep tabs on it. After all, it’ll play an essential role in any big buy you want to make – whether that’s a home or a car. And if you have an error on your credit report (one out of five reports do), that could stand in your way.
Thankfully, a website called Credit Sesame will help you detect any errors – for free. If you find any, it will even help you dispute them.
James Cooper, of Atlanta, used Credit Sesame to raise his credit score nearly 300 points in six months. * "They showed me the ins and outs – the best way to scatter the I’s and cross the T’s," he said.
Want to check for yourself? It’s free and only takes about 90 seconds to sign up.
Day 4: Leave Your Family up to $1 Million in Life Insurance (For as Little as $5/Month)
Have you thought about how your family would manage without your income after you’re gone? How they’ll pay the bills? Send the kids through school? It’s easy to procrastinate, but now’s a good time to start planning for the future by securing a life insurance policy.
You’re probably thinking: I don’t even have enough time or cash for it. However, your program shouldn’t take more than about five minutes – and you could leave your family $1 million with a company called Bestow.
Rates start at just $5 a month, and you can change or cancel your plan at any time. Plus, the security of knowing your family is taken care of is priceless.
If you’re under the age of 54 and want to obtain a fast life insurance quote without a medical exam, pushy sales calls or even getting up from the couch, obtain a free quote from Bestow.
Day 5: Knock $55/Month From Your Car Insurance in 2 Minutes
When’s the last time you looked at your monthly bills? We mean really look. Chances are, you could be saving a ton of money on some of them.
Here’s an easy one to start with: Car insurance. To obtain the best deal, you should be shopping your options every six months or so, but what a hassle.
Thankfully, a free website called The Zebra will do the shopping for you- in just two minutes.
All you have to do is enter basic information about your car and driving history, then The Zebra compares costs from more than 100 companies to find you the best amount.
The Zebra says it saves its users up to $670 a year.
If you find a policy you like, you can sign up online instantly.
Day 6: Have a Huge Bonfire
How are you feeling today? Now that you’ve made some moves to organize and optimize your finances, it’s time to declutter and have some fun.
Take a good look at your desk, junk drawers, abandoned file boxes and old file cabinets… For many of us, those are full of outdated financial paperwork you don’t want anymore.
Spend today coordinating all these aspects of your lifetime. Shred and throw what you don’t need into a trash bag. What you do need, scan to your computer and save to a secure file.
Then, it’s time to eliminate all the physical and mental clutter … with a bonfire! It’ll feel good to burn those superfluous stacks, and you can also use it as an excuse for a fun get-together with your friends.
Once you’re done, say goodbye to extra paper, and sign up for electronic statements on all your accounts to keep your life tidy and organized in the future.
Day 7: Download This App to Get Up to $500 in Free Stock
It’s the last day of the challenge, and it’s time to take a look at your future. Yup – we’re talking about investing!
If you feel like you don’t have enough time to begin investing, then you’re not alone. But guess what? You truly don’t need that many – and you can even obtain free shares (worth up to $500!) if you know where to look.
Whether you’re got $5, $100 or $800 to spare, you can start investing with Robinhood.
Yeah, you’ve probably heard of Robinhood. Both investing beginners and pros love it because it doesn’t control commission charges, and you’ll be able to purchase and sell shares to get free – no limitations. Additionally, It’s super simple to use.
What’s greatest? After you download the program and finance your account (it requires no longer than a couple of minutes), then Robinhood drops a talk of totally free asset in your account. It’s arbitrary, however, in order that asset might be worth anywhere from $5 to $500 – a great boost that will assist you build your own investments.
This material is provided by The Penny Hoarder.
*Like Buitureria, 60 percent of Credit Sesame members notice an boost in their credit rating; 50% watch slightly a 10-point boost, and 20% watch slightly a 50-point boost after 180 days.
Credit Sesame doesn’t guarantee one of these outcomes, and a few could even observe a drop in their own credit rating. Any score advancement is the consequence of several facets, such as paying bills on time, maintaining credit balances reduced, preventing unnecessary inquiries, proper financial planning and growing better credit customs.
Mike Brassfield ([email protected]) is a senior writer in The Penny Hoarder.