A perfect moment to reflect on how we can simplify our finances.

Happy everyone! Did you know that July 12th is National Simplicity Day, a perfect moment to reflect on how we can simplify our finances. Here are some tips that may help you out:

Consolidate your accounts. Having multiple accounts can make it difficult to keep track of your finances. Consider consolidating your accounts to make managing them easier.

Automate bill payments. Late payments can hurt your credit score and cause unnecessary stress. Set up automatic bill payments to avoid missing deadlines.

Create a budget and stick to it. Budgeting can help you understand your expenses, track your spending, and save money.

Cut back on unnecessary expenses. Take a look at your monthly expenses and see where you can cut back. Maybe it's cancelling a subscription service you never use or eating out less frequently.

Simplify your investment portfolio. Having too many investments can be overwhelming. Consider consolidating your portfolio to make it easier to manage.

Cut down your subscriptions: Do you need four streaming services? Two gym memberships? Take a moment to evaluate how much you're spending on monthly subscriptions, and consider canceling some of them.

Reduce your credit cards: More credit cards can mean more temptation, more payments, and more complications. Stick to one or two credit cards and stay on top of your payments.

Sell unneeded items: If you have clothes, electronics, or furniture that you no longer use, sell them online on platforms such as Facebook Marketplace or eBay. You can make some extra cash and declutter your home at the same time.‌

Now here's a fun question for you: Would you rather save money on every purchase you make, or never overspend and or overdraw for account? Share your thoughts in the comments below.

And Don’t forget, If you need help simplifying your finances and achieving your financial goals, contact DH Financial! Our team of tax accounting specialists and financial coaches are here to help.
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