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8 Sites to Manage Your Finances

8 Sites to Manage Your Finances

No matter what you are doing, a job is always a lot easier when you are using the right tools. It is the same when you are trying to manage your finances. It is just a matter of finding the best tools for your financial needs. If you want to better manage your finances, and make the process a whole lot easier, check out these eight awesome websites.

1. Quicken

This is one of the best budgeting tools you can use. It will help you with budgeting, investments, bill payments, and reporting. You can connect to financial institutions and download your transactions, sync data between devices, and always be able to access your accounts. Keep in mind that the PC version is a lot better than the Mac version of Quicken.

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2. FlexScore

This site is fun and easy to use, and it is free. It will calculate a personal finance score that is based on how you are currently managing your money. All you need is 15 minutes to enter your information, and you will learn how to raise your number to get a perfect credit score. If you make stupid moves with your money, the score is going to drop, and you will be able to find out just how much and bring it back up using this tool.

3. YNAB (You Need a Budget)

This budgeting tool is great because it uses a spreadsheet layout that is familiar and easy to understand. You can easily create monthly budgets in just a few minutes using this tool. You will also learn how to lean on former incomes instead of creating budgets that are based on future incomes that may not always be guaranteed. This will put a stop to your lifestyle of living paycheck to paycheck.

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4. Future Advisor

This site will recommend low-cost index funds, as well as commission-free ETF’s that will help you with your investment portfolio. The new premium account is just $9 per month, per household, if your portfolio is less than $50,000. For larger portfolios, the cost is $19 per month, and Future Advisor will make your trades for you, as well as offering automatic tax-loss harvesting.

5. Guarantor Loans

Here is a site that offers a directory of direct loan lenders. The lenders list is to provide customers with the best options, and help find the best lenders for even big loans. All lenders are registered to trade, and they all have valid consumer credit licenses. You can be sure that you will be treated fairly and get the loan you need.

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6. The Birdy

If you are nervous about using a site that links to your financial accounts, this is another option you can try. This is a tool that is really easy to use. It asks what you buy daily, and you just have to describe the purchases and add tags to record everything in your account. You can log in at any time to track weekly and monthly expenditures and see what your spending habits look like.

7. Guide Financial

This site offers loads of personal finance tools that let you know where your money is going, and how to make the best changes to create a better budget. You will get great advice about saving money by refinancing your mortgage, finding the best savings accounts, choosing the best retirement plans, and more. In time, there will be 25 categories on this site for you to work with.

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8. DailyWorth

This site offers daily emails that give you the best financial advice and articles for women who want to learn how to create budgets, earn more money, save more money, invest, and spend smartly. You will see loads of great articles, and you can also sign up for the bi-weekly “Asset Class”.

Featured photo credit: stevepb via pexels.com

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Jane Hurst

Writer, editor

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Last Updated on April 3, 2019

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider Consolidating Multiple Credit Cards If Possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to Pay the Full Balance You Spent Each Month at the Very Least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay Extra When You Can – Every Small Amount Counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a Plan on How to Pay Extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out Costs for Services You Do Not Use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get Aggressive About It

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate Your Progress at Set Intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep Trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start Knocking out Your Debt Today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

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