11 Things To Do That Could Change Our Money | Refresh Financial

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11 Things We Forget To Do That Could Change Our Money

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We all get busy. We get wrapped up in the business of day-to-day life. Making dinners, doing laundry, walking the dog. We hardly have any time to sit down and really look at what’s going on with our money, or even to think about it for that matter. This is why so many of us overlook the simplest things that could truly have an impact on our financial well-being.

Here are 11 simple things we should stop forgetting to do that could change our money:

1. Look at your credit report

Sometimes there are errors, instances of identity fraud, and derogatory remarks you might not have known about that are easily fixed. Get past the fear and look at it, because finding one item that easily fixed is going to change your score for the better. You can grab yours free, every year, at the following links:

Click here for Equifax.

Click here for TransUnion.

2. Regularly check your bank statements

Viewing your bank statements keeps your mind in reality about where your money is. It helps you remember how much you can spend and when you should stop. If you regularly look at your bank statements, you’re going to catch any mistakes made on the part of your financial institution as well.

3. Regularly read your credit card statements

By doing this, you’re going to be aware of your balances and understand how much credit you’re using. You’ll also be able to spot any potential identity theft action going on with your cards, as well as any double charges or unauthorized use.

4. Check and review all of your bills

If credit card companies and financial institutions make mistakes, so can your cable company and wireless provider. You aren’t as likely to catch these mistakes, though, if you’re not looking.

5. Set up automatic payments

Set it and forget it! You won’t miss or be late with another payment if you’ve got them coming out of your bank automatically.

6. Review any automatic payments you have already set up

Doing this may remind you of subscription services you no longer use, like AOL or Netflix, or highlight overpayment of bills that have changed.

7. Save money

With polls in Canada suggesting more than half of us don’t save money on a regular basis, I think it’s safe to say many of you reading this forget to do so as well. The best way to remember to save every month, is to set up an automatic transfer from your chequing to your high interest savings account. Just set it and walk away.

8. Switch to lower interest credit cards

If you’ve got high interest credit cards, but your credit score has gone up recently, you might be eligible for lower interest cards. Transfer your balances on your high interest card to your new low interest card and then cancel the high interest ones. It’s going to save you a ton of money in the long run.

9. Pay more than the minimum payment

If you want to see your balances fall faster, you should be making more than your minimum payments on your credit products, more often.

10. Review your chequing account fees

The fees you agreed to when you opened your account may have changed since then, as they do every once in awhile, and you may be surprised what you’re paying every month. Looking into this on a regular basis and seeking out no-fee accounts options is going to save you money.

11. Collect your points

Even though it’s a hassle to carry around points cards for every place you shop at, it’s worth it. Many of these rewards programs can have a significant impact on your annual expenses. You can get yourself free groceries, gas, clothes, household products, and even travel. Don’t pass up the points! They may seem insignificant right now, but they add up and are truly worth the heavy wallet.

Each of these items has the power to make a difference to our money, but all of them combined will truly turn it in a positive direction.

What are some of the things you forget to do that would have a positive impact on your money? Let us know in the comments!

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