Friday, 9 November 2018
If finances seem overwhelming, simplify. The key to controlling your financial future may be less complex than you think.
We've polled experts to find the best steps you can take to set yourself up for success. Best of all? They're completely free!
1. Set up a basic budget. Budgeting is easily the most overlooked component of most stressed financial lives. It's amazing how having a basic written list of expenses for the month can help with planning and preventing problems down the road. Don't know where to start? There are apps that will help you get started, like this one with a prepaid debit card.
2. Invest the time to go Digital. If you haven't already, set up Mobile Banking. This will ensure you know what's happening with your money no matter where you are. No more guessing. Set up mobile alerts so you're notified if you get a deposit or if your balance dips too low. It only takes a few minutes and adds so much convenience and control.
3. Make Bill Pay a part of your life. Setting up recurring payments to happen automatically isn't just a matter of convenience; it may also prevent late payments and help you stick to your budget. This may be the best thing you can do to lower ongoing stress over bills--automate them!
4. Save for a rainy day. Making small changes to spending habits can help you reduce spending and start saving. Having an emergency fund may help minimize your stress and prevent serious issues when unexpected costs arise.
5. Build your team. Find trusted experts to help tackle your money questions and help keep you on track to meeting your goals. Find an advisor in your area.
The content provided is for informational purposes only. Neither BBVA Compass, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial advisor about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA Compass or any of its affiliates.
Links to third party sites are provided for your convenience and do not constitute an endorsement. BBVA Compass does not provide, is not responsible for, and does not guarantee the products, services or overall content available at third party sites. These sites may not have the same privacy, security or accessibility standards.
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