TAMING THE UNTAMED: Ideas for organizing your financial affairs, not forgetting some of the most overlooked items like computer passwords

by Jill Ciccarelli Rapps, CFP®
Financial Advisor

Thanks to modern technology, it’s more possible now than ever before to get control of your finances and move your current situation towards a better, more stable future. But while there are plenty of tools and resources that can help with this, the fact remains that the wide range of access to financial tools and technologies can often create a situation wherein your overall financial stability is a bit of a jungle.

EASY TIPS TO REMEMBER

Taming the wilds of your finances isn’t impossible and if you’ll remember a few basic tips, you can get the upper hand and master your financial situation no matter how wild and untamed it might seem.

Here are a few of the key tips to keep in mind that can help with this.

• Consolidate Passwords – Start by getting control of your passwords. Experts agree that having the same password for every
  account isn’t a good idea, and changing your passwords every so often can also help. Today there are many programs that will keep track and create passwords for you; you only need one password to open it and it will automatically fill in your passwords for your web sites. Now you only have one password that your family or durable power of attorney needs to know to access your password list.
• Consider Auto Bill Pay – Even more convenient is the ability to set up your bills so that they’re automatically deducted from your account. This lets you avoid the issue of forgetting a specific bill, can make traveling much easier, and can be a good option if you are not fully capable of managing your money effectively. Just be sure you keep a list for your heirs of what bills are on auto pay (monthly, quarterly or annually) and review your statements regularly to be sure there are no signs of identity theft on your accounts.
• Check Your Credit Score – Knowing what your credit score is and taking advantage of pulling your free once a year credit report can be a great window into your finances. This will help you see if you need to modify credit to increase your score or if there are any signs of someone stealing your identity. With the advancement of identity theft, this is a must!
• Know Your Spending Budget – Clearly document what prosperity looks like for you and then align your spending habits to support your most important goals. Know where your money is going and take control of your financial destiny. This will help you to make future financial decisions quicker and more wisely.
• Consolidate Accounts and Simplify – If you have too many bank, investment or credit card accounts, it can not only cost you big but be a challenge to manage as well. Look at what you really need, see if any accounts can be consolidated, and reduce the number of credit cards you use. This can save you money while also helping save you time when managing your finances.
• Use One Place For All Your Important Documents – Most people have documents in their files, safe deposit boxes and maybe even “the cloud”. Here’s a test, if someone had to step up on your behalf, could they in one hour understand where everything is located and what your current financial situation is? If not, it’s time to review your files, take out your important documents and set up a secure place to keep them. Give the location and password if applicable to your durable power of attorney or your family members.
• Go Paperless – The clutter of paper bills is tremendous. By simply signing up for paperless billing from most of your accounts you can reduce the hassle of trying to keep up with all those stacks of papers. Not to mention you can save a lot of trees!

CONTROLLING YOUR FINANCES FOR A BETTER FUTURE

The key to better financial health starts with just being more organized and mindful of your finances. The tips above can make it easier to do just that and to move yourself towards a much healthier and more organized life in terms of your financial state. To obtain assistance with the process and to learn more about how we can help, contact Ciccarelli Advisory Services, Inc. today.

Jill Ciccarelli Rapps, CFP®
www.CASMoneyMatters.com

Ciccarelli Advisory Services, Inc. is located at 9601 Tamiami Trail North, Naples, FL (239.262.6577)

Jill Ciccarelli Rapps, is a certified financial planner and a trained life coach and is a Partner of Ciccarelli Advisory Services Inc., a Family Focused Wealth Management Firm in Florida and New York.

Ciccarelli Advisory Services, Inc. is located at 9601 Tamiami Trail North, Naples, FL (239.262.6577)

Investment advisory services offered through Ciccarelli Advisory Services, Inc., a registered investment adviser independent of FSC Securities Corporation. Securities and additional investment advisory services offered through FSC Securities Corporation, member FINRA/ SIPC and a registered investment adviser