Turn Your 2015 Financial Plan Into Reality!
It’s all planning until you turn it into reality…it’s not as tricky as you might think! It helps to be organized in terms of your filing system but the organization essentials are more about minimizing the administration.
- Credit Cards – Hold and carry 2 (put away or cancel the rest)
- Bank Accounts – 1 Chequing & 1 Savings (+ 1 Savings account for each additional person)
- Investment Accounts – Hold in as few places as appropriate and keep your own tracker with them all in 1 place
- Income – Automate through Direct Deposit
- Payments – Automate through Direct Debit
- Savings – Automate through Monthly/Continuous Contribution Plans (direct from your account into your investments, RSP’s or RESP’s)
- Large/Irregular Expenses – Pay monthly through direct withdrawal from your account or set up a monthly transfer to your Savings Account so the money’s there when you need it
Some people like to use money tracker software that combines the information from accounts and credit cards or if you prefer, do it yourself. Either way, the key is to track and monitor your actual income, spending and saving to your plan so that you can take action if you’re getting off track.
Posted: January 29th, 2015 under CEO of the House, Money & Lifestyle, Money Savvy Tips, Tips & Tricks.
Tags: Budget, Dear Piggy Bank, Financial Planning, Money & Stress, Money Systems