8단계 현명한 금전관리법 streamline your finances in 8 steps > 크레딧올리기

Have you paid a late fee on a credit card or bounced a check in the past year? Did you misplace a bill, a statement or some other financial record? Are you confused about how much of your net worth is tied up in stocks, or exactly how much credit-card interest you paid last year?

Do you ever wish you could spend less time worrying about money and bills?

If the answer to any of these questions is yes, it’s time to take some steps to streamline your financial life. A few basic steps can save you time, money and headaches. You may need to invest a few hours upfront to get your system in place, but once it’s up and running, all the effort will seem more than worthwhile.

Here are the steps to take:

Use direct deposit

This would seem to be a no-brainer, but many workers don’t take advantage of the opportunity to have paychecks deposited directly into a checking account. Instead, these workers stand in line at the bank or -- even worse -- use check-cashing outlets that chew up a chunk of their pay.

If you haven’t already, talk to your payroll office about setting up direct deposit. You’ll need to sign a form and provide a voided check. After that, the checks roll in like magic.

Get overdraft protection

Bounced checks are expensive and embarrassing. Protect yourself and your checking account by setting up overdraft protection at your bank or credit union.

Most overdraft protection comes in the form of a line of credit that kicks in when you write a check for more than the balance in your account. You’ll pay a small annual fee -- typically $10 to $30 a year -- plus interest charges on whatever amount is charged to the line of credit. If you avoid even one bounced check each year, the account will probably pay for itself.

Put your bills on automatic

There are three basic ways to do this: direct payment, credit-card charges and online bill payment.

With direct payment (also known as automatic payment, direct debit or electronic funds transfer), you authorize a biller to take a payment directly from your checking account each month. Some mortgage and student loan lenders even offer an incentive for setting up these recurring payments by giving you a break on your interest rates. Your account is protected by federal laws regarding electronic funds transfer, which, among other things, prohibit the biller from taking more than you authorize.

If you’d rather have a middleman between you and your billers, in many cases you can have recurring charges made to your credit card. (Your issuer can provide you with a list of billers whose charges they accept.) This method should be used only if you always pay off the credit card in full every month. Any convenience offered by automatic credit card charges will be more than offset if you’re paying interest on that money.
Online bill payment systems typically offer the most flexibility. Not only can you pay your bills electronically, you can receive them that way as well. You can also easily set up recurring payments for your basic accounts -- your mortgage or rent, car payment, student loans, health club membership and any other bill that stays the same amount from month to month.

With bills that vary, such as your credit cards, you can set up two payments: a recurring one that’s sure to cover any minimum balance that might be due and a second one that varies from month to month, depending on your balance and your ability to pay. This way, you avoid any late fees while still maintaining control over when the bulk of the tab gets paid.

Use personal finance software

Each year Intuit’s Quicken Online and Microsoft Money get easier to use, thanks to download features that whisk details of your financial transactions from your bank, brokerage and credit card accounts directly into your computer. (Microsoft owns MSN Money.)

Both give you a way to keep track of your finances and plan for the future. You can see at a glance how much debt you have, what your brokerage accounts are worth and whether you’re staying within your budget -- all in one convenient format.

These programs are loaded with handy features, like reminders that tell you when bills are due and alerts that warn you if your checking account balance is about to dip below acceptable levels.

You’ll still need to spend a little time setting up your accounts and getting to know the program, but the payoff is a greater sense of control and less stress about your money.

Set up reminders

Today’s technology means you never have to pay another late fee. As mentioned above, your personal finance software can alert you when bills are due. Some credit cards, such as Discover, can send you an e-mail reminding you to pay. Online bill payment systems have bill reminder features as well.

Take advantage of these so you don’t have to rely on your memory to make sure bills get paid.

Consolidate your credit cards

The more cards you have, the more due dates, interest rates, fees and terms you have to keep track of -- and the more likely you are to make a mistake, pay a bill late and get hit with a fee.

Most people need only a small number of cards. If you carry a balance from month to month, consider consolidating all your debt onto one card if you can do so without using more than about 30% of your credit limit. Using more could hurt your credit score. Use a separate card for any new purchases, and don’t charge more than you can pay off each month. That way, you can minimize your interest rate charges while still having the convenience of being able to use a card.

Consolidate your accounts

The more scattered your money is, the harder it can be to track. Having a number of IRAs, mutual funds and brokerage accounts at several different financial institutions, for example, just creates more paperwork and headaches. Instead, move them all to one location and combine any accounts you can.

Some people have even closed down their bank accounts, opting to keep their money at brokerage firms. Brokerages offer checking and savings account services that mimic those at banks, and you may find it’s easier to move your money around when you don’t have to deal with transfers between institutions.

Set up a filing system that works

You should have one place to put your bills as soon as they come into the house. (If you get your bills electronically, they should be saved immediately to a specified e-mail folder -- or better still, paid. If you still get paper statements, the holding pen might be a basket on your desk.)

Paid bills and other financial documents should be filed away in logical order. Generally, each bank, credit card and brokerage account should have its own file, as should your workplace retirement accounts and insurance policies.

Office supply retailers have ready-made filing systems that might help you, such as HomeFile, a system created by two financial planners that tells you what documents to keep and for how long.

Once a year, after you’ve filed your tax return, go through your filing system. Pack away the old documents you need to keep and toss the receipts and statements you no longer need.

Implement all eight of these steps, and your days of late fees, bounced checks and confusion will be history. Instead, you’ll feel more in control of your money -- and your life.