Save Money by Organizing Your Life Better

Most people feel that they can just stuff their bills in a shoe-box till it is time to pay the taxman. But have you ever thought that by being disorganized, you may be losing money? It’s true! Organizing your finances can help you save a lot of money. For starters, you will know which is the major expense that’s draining your resources?

Now, by reviewing bills, you can start saving or investing and schedule payments so that you don’t have a mess at the end of the year. Given below are the top 4 reasons why you should organize your finances –

You Save Money By Analyzing Phone Bills – Most of us don’t realize that a big part of our earnings goes into paying phone bills. When you make long distance calls, personal or for business, you lose track of time. And, then there is the matter of which time of the week you are making this phone call.

When you analyze your phone bills, check the number of long distance alls you need to make weekly or monthly. Now, if there are too many such calls, speak to the service provider and check if he is offering any plans for long distance calls. You can also find out the charges for weekends and for weekdays. You might as well make use of online services that offer free conference calls.

You Save Money By Analyzing Checking Account – Review your bank statements for the last three quarters and analyze what extra are you paying the bank. It can be bank fee without realizing it. Note down the reasons for payment of this excess fee and then resolve not to pay a penny more than necessary. Find out what eats away your money. Also, check the amount of interest that the bank is paying on your checking account. If there is no interest, then get an account that pays interest. Why let you money be idle?

You Can Save Money By Analyzing Your Mortgage – If you have a mortgage, analyze it to check if refinancing will be cheaper. Even if the interest rates are just 0.5% lower, it will save you a lot of money. Or maybe you have enough to pay off your mortgage without too much of closure fee or maybe you can cut down the loan term to 15 years. You will not know what is going to benefit you unless you analyze the papers and review it thoroughly.

You Can Find More Ways To Save For Retirement – Unbelievable as it sounds, it is possible to save more for your retirement. More than you have planned. Given below are 3 ways to save more for your retirement –

• a) Redirect your raise to your retirement fund;
• b) Invest part of your savings in mutual and bond funds and cash’
• c) Invest in a stable growth fund.

These are just 4 of the many reasons why you should organize your finances. You save a lot of money. If you calculate at the end of the year, you will find that you will have plenty of saving from just your phone bills and checking account.