The CPA’s Top 10 List – Get Your Personal Finances Under Control NOW!

10 Ways To Control Your Personal Finances

Do you feel scared of your money? You may be afraid. Your attitude towards it can affect you positively or negatively, but certain things will give you control and make the idea more pleasant to consider.

1. Pay Your Own Bills

Don’t be afraid to handle your own bills. If you want someone else to take care of them, let that person do it – but in the meantime, spend just one day a month on your finances and try understanding what they mean for you. Take time once a month while going over these things with this trusted advisor if necessary so you can have their input as needed too!

2. Consolidate your Mess With A HELOC

A Home Equity Loan or Line of Credit is a great option if you have multiple loans and credit cards. One monthly payment will make your life simpler, save interest fees on all of your borrowing costs, and take the burden off of your shoulders for paying them one at a time. And interest rates right now make these an attractive option – don’t charge them back up!

3. Save Money Every Paycheck

Saving money every month is a good rule of thumb, so take 15% out of your salary and put it into an account that earns interest. Once you’ve saved enough in an emergency fund to feel comfortable with what will happen if anything happens at work or for any other unforeseen reason (like losing your job), start investing some more savings for retirement, car replacement, and other items.

4. Refi Your Mortgage

Refinancing your mortgage can help you save a lot of money on interest rates. If you want to stay in the house for years, or even just another year, then refinancing could be advantageous because it will cut down your costs considerably and leave more savings for other areas of life if necessary.

5. Think About Your Vacations

Vacations are a great time to relax and enjoy yourself away from the daily grind. That’s why you must plan ahead of time for your vacations because this can save money on airfare by joining travel rewards programs, using cards that provide points or buying tickets in advance during sales periods. You will be able to have more fun with less stress when trying to get ready at the last minute!

6. Invest Smart

Investing in your future is good for you and great for the people who love and care about you. Seek professional help from a financial advisor or do plenty of research on your own to determine which investments will be best suited to make sure everything goes smoothly.

7. Split Your Savings For Specifics

The holiday season is a time for joy, but it can also be stressful because of the high costs. If you want to alleviate some of that stress by planning and budgeting better, consider setting up special accounts. This will save your money throughout the year, so when December comes around, there’s not as much pressure on funds already allocated for other things like bills or savings.

8. Plan For The Car

It can be a real pain to have car repairs. We all know that it is an inevitable part of owning a vehicle, but how do you keep your expenses in check? One way would be by setting up and maintaining a separate bank account for anything related to the upkeep or repair of your car, including inspections and other small jobs. This will help lessen the financial blow when you need major work done on your ride!

9. Snowball and Know Your Terms

Momentum matters! Pay off those cards and bills starting with some of the smallest balances and then apply the amount you’ve been paying to the next largest bill. Realize that your credit card is a tool to help you make purchases. While it may be tempting to take advantage of the low or no interest rates, remember there are fees for late-payments and other penalties if things go wrong with their agreements. Make sure you understand all terms before signing on! 

10. Get A Grip On Your Taxes

Understand your taxes and what you need to do to manage them as best possible, but if it’s too much for you, then hire a CPA who will help guide you through the process of filing so that everything is done correctly.

Rethinking your finances can be a great way to achieve financial stability. Here are 10 tips on how: One strategy at a time, try just one and get used to it before adding another; this will help you master all of them in no time – if you need more assistance with the finer details then hiring an expert may also come as handy