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[Sponsored] Five simple steps for organized finances

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Lack of organization can hurt your finances, just like not having enough money. Loss of accounts will result in late fees, and failure to track current account balances may result in overdraft fees. The steps below will help you stay on top of your financial life and save money in the long run.

1. Pay off Urgent Debts and Check Your Budget Monthly

First of all, you should close all your debts and loans. And the first is to close the loan with the highest rate. But the best thing, of course, is to try to close your loans ahead of schedule, making each month more money than the minimum payment.

Key findings

● Even routine expenses like utility bills go up or down from month to month. Keep an eye on them and adjust your discretionary spending accordingly.

● Keep a list of monthly bills to avoid unpleasant surprises.

● Coordinate daily spending with significant people.

Sample questions that you should ask yourself to understand whether you normally take this into account or not, for example, are:

● how much money you have now,

● how much cash you have,

● how much and on which accounts you have,

● how much your total balance is,

● what your incomes are: for the last month, for several months, for the last year,

● what is your growth rate from year to year,

● how does your income change from year to year.

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