333 Ways to Improve Your Finances

By Anthony D Roberts

You want to improve your finances. I get it. But you worry because there are so many things that can go wrong. You worry because you think you'll miss something important. Or something obvious. Some days you feel confused and disheartened by the complexity of money, and that's just not right. Everyone has a right to feel confident with their money. Everyone deserves to know they're doing all the right things and taking all the right opportunities. That's why I wrote this book. It's full of ideas. 333 of them.

In this book you'll discover new ways to improve your finances and reconnect with old ways you might have forgotten about over the years. You can use this book as a checklist. Or for inspiration to review your plans and explore the best ways to improve your finances.

Everyone needs a helping hand every now and again. Let me help you. Get your copy of this book and start improving your finances today.

(P.S. I've been a financial planner for the last three decades. I've seen and helped lots of people in that time. But now I want to help even more people. Like you.)

 

• Language: English
• Publisher: Anthony Roberts Books
• Release date: Mar 8, 2022
• ISBN: 9798201579746

Book preview

ORGANIZE

1. Get a safe

There are millions of people who still don’t have a safe. Use a safe to store your most important and valuable documents. It will keep them safe from thieves. It will reduce the risk of you ‘losing’ them and will save you the cost of replacing them. Use your safe to store insurance policy documents, wills, powers of attorney, passports, credit cards, medical cards, car ownership documents (and even your spare door/car keys.)

2. Use ring binders and document wallets

There is always going to be some physical paper, even in a paperless world. Don’t leave things in piles strewn across your kitchen worktop or in other rooms. You’ll lose valuable paperwork. You’ll forget to pay bills. You’ll miss deadlines and lose discounts or vouchers. This will cost you money. Use document wallets or ring binders with internal dividers. Label the dividers for ease of reference. Think ‘utility bills,’ ‘medical records,’ and ‘insurance letters.’ Fix a plastic sleeve to the inside of each ring binder. Use the sleeve to temporarily hold outstanding bills and credit cards that need paying. Then, when you’ve paid them, you can file them away where they belong.

3. File your paperwork properly

You’ll keep good records if you make it easy to file your paperwork. You won’t keep good records if there is an obstacle (however small) that hinders quick and easy filing. Think about it. What will happen if you keep your filing in a box out of reach under the bed? You’ll leave your paperwork on the kitchen worktop or shove it in a random drawer and promise to file it later. But you never will. Make sure you can get quick access to your filing.

4. Always ask for a receipt

You will always get a receipt for card transactions. If you use contactless payments with your phone, you always get a record of the transaction. But you don’t always get a receipt for cash transactions. Always ask for one. Receipts help you track your spending. They also mean you can return goods if you discover they are unsuitable or faulty. No receipt often means no come-back, and your money will be wasted if you can’t return faulty goods. Maybe you hate paper receipts. No problem. Snap a quick photo of it on your phone then destroy the receipt.

5. Somewhere for your paper receipts

Some people like to use desk spikes. Others use large clips or plastic sleeves to temporarily hold receipts. Some people just hate paper and take photos of their receipts as they go along. Whatever you use, make sure you and your spouse get into the habit of keeping receipts until you check your finances. Hold photographed receipts in a dedicated folder in your photo gallery. Use cloud storage if you prefer. Keep important receipts for as long as needed. Think clothes and electrical goods. Other receipts can be destroyed once you’ve checked them against your bank account. Think grocery store and coffee shop. If you lose a receipt, you lose the right to return faulty goods.

6. Get a note pad (either physical or use an app)

If you can’t get a receipt, use a notepad to record your spending. The notepad doesn’t have to be particularly large but should be kept handy. Or kept in the same place at home (with a pen!) Some people use post-it notes to record cash spending and then stick the note onto their receipt spike. Others prefer to make a note on their phone (there are lots of apps.)

7. Use a shredder

You must shred ALL old correspondence that you’re not legally required to keep once it’s no longer needed. Think renewal letters from your home insurer from three years ago. Shred old receipts. You are always at risk of identity theft. Any document that has your name or finances on it should NEVER be put directly in the trash. Shred instead.

8. Scan paperwork and store electronically

Scan paperwork to your phone or computer to save space at home. If you store them in the cloud you can access them whenever you need them, wherever you are. Storing personal information in the cloud is much safer than you think. Make sure you stick to the simple principles of online security.

9. Go paperless for statements and bills

Lots of companies offer discounts and/or cheaper tariffs if you opt for paperless statements and bills. Remember to keep your own PDF copies in your own cloud storage folders. Companies won’t usually hold copies for you indefinitely.

10. Use spreadsheets to calculate and track progress

A simple spreadsheet can help you track your spending. Spreadsheets are also great for building spending plans and doing simple calculations and projections. It’s easier and quicker than paper, and you are less likely to lose it if you store it in the cloud.

11. Use personal finance apps

Use a personal finance app if you feel a little more adventurous or if your circumstances are a little more complex. These apps can help you set budgets and track your savings and investments. They can help you save time and money. Some apps enable you to view your different accounts in real-time in one place. But like most tools, they are only useful if you know how to use them properly.

12. Simplify things where possible

Many people have multiple bank accounts, savings accounts, credit cards, investment accounts, retirement accounts and pensions. Consolidate or close unnecessary accounts. This will reduce your paperwork and reduce the time it takes to monitor your finances. Emphasis is on ‘unnecessary’ and ‘where possible.’

13. Don’t oversimplify it. Keep some redundancy

Remember that just because you can, doesn’t mean you should. You might be able to manage with one bank account, but what happens if that bank fails? Or is hacked? Or its app crashes? You might be able to hold all your retirement savings in one retirement account, or in one fund. But what happens if that company fails or if the fund is suspended? There is a reason why commercial airliners have more than one engine. Don’t oversimplify. Keep some redundancy.

14. Register to access your accounts online

Register for online access to your pensions, retirement accounts, investments, bank accounts, savings, mortgages, credit cards and loans. This makes monitoring your finances much easier. Online access allows you to make changes and payments quicker, cheaper and easier. And with less physical paperwork.

15. Technology is your friend, but use it wisely

Holding your investments and retirement accounts through an online service can save thousands in policy fees, dealing charges, admin fees and fund management charges. Charges are often tiered and reduce as your portfolio grows. It’s easier to assess a portfolio if it’s in one or two accounts. It’s easier to control risks and manage potential losses. You can give professional advisers authority to directly access account information. This could save them time and save you fees. But not always. Be careful.

16. Develop your own spending plans

Managing day to day finances is the fundamental activity that will help you build the wealth you need to live a life you love. Budgets need not be oppressive. Think of it as a spending plan - where shall I spend my money this month?

17. A professional can help you get organized

Professional help is always worthwhile at some point in your journey. Make sure you use a Chartered Financial Planner or a Certified Financial Planner. A suitably qualified financial planner or financial coach is best equipped to help you organize your financial affairs.

18. Automate your bill payments

Automate your payments and you’ll never forget to pay a regular bill or renew your insurance. Many businesses will give discounts to customers who settle regular bills with automated payments. Think utility companies. But be careful. If you ask to settle annual bills in monthly installments you might be charged more. Insurance companies often do this. They charge you interest for spreading the payments. Don’t do it. Settle bills on the cheapest terms.

19. Become Money Conscious

You need