Updated October 2022
Managing finances can seem overwhelming when you are away from home. Staying organized does not have to be a source of additional stress. There are several ways to manage your money better while still on the move. Here are a few tips to start the New Year off strong by staying organized with your finances.
Make a List
In order to manage money well, you have to know how much is coming in versus how much is going out. Take the time to create a list that includes the date each bill is due, the date deposits are made, and any expenses for food, clothing, or other necessities.
Bank Better
Not all banks are created equal, and for that reason, it is important to do research and choose one that meets your individual needs. Choose a bank or a credit union that offers free checking services, low or refunded ATM fees, and mobile banking options so you can track and manage your account from anywhere. A good bank should also have no minimum balance requirements or limit the number of transactions you can make. Since you will likely be away from home, banks with a great Mobile App will be especially beneficial.
Consolidate
If you have multiple checking, savings, or credit card accounts, now is the time to consider consolidating. Having multiple accounts only makes it harder to keep track of what you owe, when it was paid, and through which account. As a bonus, this can also save you money. You can choose to keep the accounts with the lowest fees and interest rates.
Take Advantage of Technology
Free apps, like Mint and Rocket Money, are available and make staying organized a breeze. You can keep all of your financial information in one place and can access it from your mobile device. Not only can you pay bills through these apps, but also get notifications and reminders for any bill that is not set up on auto-pay. These apps can also help you set up a monthly budget and give you an analysis of your spending trends, so you can see where to save money. They can also be a great place to organize all of your different subscriptions.
Taking the time to manage your money better is a great resolution. Knowing you are organized will give you that peace of mind while on the road. It might just save you some money as well!
