Finances are daunting and finding ways to save can be difficult. It is possible to save effectively with the smallest amount of effort though. These tips from the Financial Post will help you to get your finances in order without having to do anything particularly taxing.
- Set up an automatic direct debit that deducts a percentage of your wage each month. The money will disappear to a high interest savings account and you will never need to worry about saving again.
- Budget by setting up a spending account and a bills account. In this way you will know what you have to spend and will not be tempted to tap into the funds for your gas bill.
- Make estate planning easy while you are young by putting property under joint names and making your partner a beneficiary of your will.
- Make bi-weekly direct debit payments on your mortgage instead of monthly payments to reduce the level of interest that you have to pay.
- Ditch the credit cards and live on a debit card. If you save for a few months then you will have enough in the bank to act as your own credit card.
Source: http://business.financialpost.com/2013/08/31/the-minimalists-guide-to-personal-finance/
