It sure is hard to think about your money goals when it’s 90 degrees and the pool or beach is beckoning. I’m still busy seeing individual clients all through July and August but I do notice a sense of money ennui. You may not be focused on creating a new spending plan or rebalancing your retirement portfolio but here are some EASY SUMMER MONEY TIPS to continue your financial progress. If you are already doing them – wonderful – then increase the amounts! If you are not doing them yet, just take half an hour to get set-up and you will be that much further in September when you are ready to face your personal finance goals once again.
The following tips are excepted from “My Money Matters Kit”. This kit, which was reviewed in NYTimes, contains 26 Money Affirmations, over 100 Instant Money Tips and 7 Workbooks. All beautifully illustrated.
FATTEN UP YOUR PIGGY BANK
1) Set up an automatic transfer from your checking account to a savings account. Even if you think you can’t afford it, start with a small amount of $25 every month.
2) While you are at it set up multiple savings accounts for different purposes. For example, a vacation account, an emergency savings account, a house down-payment account, a holiday gift account, etc.
3) Open this savings account at another financial institution other than your bank. Even though it will be harder to access, you will save more money because you will be less inclined to touch it. You might even be able to link them. Suggestions: ingdirect.com,capitalone.com or American Express Savings (highest paying one around for now: http://personalsavings.americanexpress.com/open-account.html)
4) Open a savings account at a credit union. Even though I’m not a fan of having too many bank accounts, some credit unions offer higher interest rates and are more customer friendly. Find one in your area at: http://www.bestcashcow.com/savings-accounts/rates-credit-union
5) Get organized with your spending and viewing all your accounts in one place at MINT.com. What I like about Mint is that the numbers don’t lie! It tells you exactly what you spent the last month and longer and it can show all your accounts in one place. It takes about half an hour to get setup but then seconds to get an update regularly.
6) Schedule your appointment for September with an INDEPENDENT FINANCIAL PLANNER – or me. Send a note to email@example.com
Enjoy the sun, and, don’t forget your sunscreen!
To your financial success-