Finances: Let's keep it simple


Some tips will help you manage your finances and won't consume much time or energy.

Angela Iermieri | Financial Planner | Desjardins Group

Our busy lives can sometimes get in the way of managing our finances. That's why I try to find ways to keep things simple. Because having one less thing to worry about helps me enjoy life that much more.
 
Here are some tips that will help you manage your finances that won't consume much time or energy.
 
1. Use automatic payments
Every month, we all need to pay off our bills and save some money. But sometimes, we miss a due date, and that means late fees. And more often than not, we forget to transfer any money to our savings account.
 
Automatic transfers are a simple solution that will make the whole experience a lot smoother. You'll never miss a payment again. The best part is that you don't even have to think about it!

The easiest way to save is by setting aside small amounts every paycheque, instead of taking out a large sum of money in one go.
 
2. Draw up a plan
Everyone has a goal. What are yours? What do you want to accomplish? No matter how crazy, there's always a way. You need discipline to build your savings, but you also need a sound investment strategy. It's like planning your itinerary before leaving on vacation; having a plan makes everything easier and less stressful.
 
Just like a travel agent helps you figure out the best itinerary for what you want to get out of your trip, a financial advisor can help you decide on the best investment vehicles to achieve your goals. Every investment vehicle has a purpose, you just need to figure out which one is the best to use in your particular situation.
 
3. Figure out exactly what you want
For most people, "simple" and "investing" are two words that don't go together. Yet there are simple ways to invest. Start by determining your investor profile. Are you the type of person who wants to climb Everest or are all-inclusive resorts more your speed? Your profile will give you an idea of the asset classes you need in your portfolio. 

Just like when planning a trip, you can decide whether or not you want help. If you want, you can take a more self-directed approach to investing and do your own research. But if you don't have the time or the inclination, your advisor is the best person for the job. They can recommend an investment strategy and track your progress.
 
What are your tricks to managing your money? 

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