11 Ways to Better Your Finances in Under 5 Minutes

We’re all crunched for time, especially when it comes to everything financial.

My friends will often do anything (make up ANY excuse) to avoid looking at their credit card balance, savings account, or loan statement. It’s often too painful, too embarrassing, or both. But a “set it and forget it” method for your finances is seriously hurting you and your funds.

Here’s 11 financial check-ups you can do in under 5 minutes. Try them this weekend, or when you have an extra moment on your commute.

 

  1. Check your credit card statement for fraudulent charges

  2. Calculate your net worth [assets - debts = net worth]

  3. Login to your investment portfolio and see how your stocks are tracking

  4. Increase your 401k contribution by 1%

  5. Call your insurance company and negotiate a better rate

  6. Research your market value (are you being underpaid? Here’s your ultimate guide to asking for a raise!)

  7. Add up your discretionary spending from last month — can you cut back?

  8. Read a blog post from some of my favorites: The Financial Diet, Bitches Get Riches, Half Banked, Britt and the B’s, The Feminist Financier

  9. Take the $20 you would have spent on a dinner out, and add it to your loan payment

  10. Research high-yield savings accounts or CDs

  11. Download Trim, your personal finance assistant (get cashback on groceries and restaurants, and have Trim negotiate your cable bill!)

Got more ideas? How did these tips work for you? Comment below!


RESOURCES

I get asked all the time: what are your favorite money management tools?

Charlie: My go-to (free!) budgeting tool that tracks your spending and progress towards goals.

Ebates: Gives you free cash back on almost all your favorite stores via a desktop plug-in.

Trim: You remember that time where I talked about how you should be negotiating all of your bills? (You should.) I know it's scary — that's where Trim comes in. Trim will negotiate cable and phone bills FOR YOU.

Status: Wanna see if you’re on track when it comes to your monthly spending and total savings? This (again, free) tool compares your financial numbers to others in your age group, city, etc.

Personal Capital: The tool I check daily, Personal Capital is the best tool for tracking your net worth and your progress towards goals like saving, debt payoff, and (yes!) $100K.

The $100K Club Facebook Group: Need some honest money conversations in your life? Join my free community to get your burning questions answered.


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