Your Personal Finances Made Easy!

May 26th, 2010 Filed under: Uncategorized — Personal Finance Author

Managing your personal finances, doesn’t have to be difficult or boring, it can be exciting and of course with a little help from me it also can be easy. I find the best way to begin is to do a quick review of your personal finances. Make a list of every financial product you have, here is a list to get you started:

Transaction accounts

Bank accounts

Credit cards

Home loans

Personal loans

Superannuation accounts

Shares/Stocks held

Margin Loans

Health insurance

Car Insurance

Home & Contents Insurance

Term Deposits

Investments

Car loans

Income Protection Insurance

n.b. Some items on this list may not apply to you.

I am an aussie, so translate this list if necessary.

The next thing is to list the institutions each item on your list is with.

To make managing your personal finances easy you need to consolidate as much of these things as you can. You will find that the more products you have with an institution the more savings you will get. Most institutions also offer a free financial health check if you are unsure of how to tidy up your finances you should ask about your bank about it.

Most insurance providers offer multi-policy discounts, shop around and always ask “is that the best price that you can give me?” Also you will find that most mortgage providers offer packages which can reduce the fees on credit cards and bank accounts just for having a mortgage. It can’t hurt to ask can it?

Also look at consolidating your superannuation, for each superannuation account you have you will be getting charged fees, consolidating to just one account will save on fees.

Keeping you finances primarily with as little providers as possible is going to make managing your personal finances easy and cost effective. Your fees and premiums will be lower and you will have less places to go.

For more ideas, tips and hints on Savvy Banking check out my blog =>

http://savvybanker.blogspot.com/

I have over 5 years banking experience I would love to share with you!

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  1. One Response to “Your Personal Finances Made Easy!”

  2. By Chris Hooper on May 27, 2010 | Reply

    Looking at that list it’s no surprise people get overwhelmed with their personal finance. So many accounts, so much paper work.

    This is probably why so many people have trouble with their finances. It ends up in the too hard basket.

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