How to Manage Your Money When You’re Too Busy to Think About It

Author: Tim Lemke / Source: Wise Bread

We’re all very busy these days. If you’re working, going to school, or raising a family (or all three!), you may not have the time or energy to concern yourself with finances. It’s easy to forget or ignore the money moves that are important in order to gain financial freedom.

You never want to go too long without focusing on money management. Fortunately, there are a number of things you can do to help keep your finances on track even when you’re really busy. In many cases, it comes down to automating processes and taking advantage of new technologies.

Here are some great ways to manage your money effectively when you’re simply too swamped to worry about it each day.

Set up automatic deposits and transfers

In this day and age, it’s easy to put your money where you want it with very little direct involvement. If you have a job, be sure to set up direct deposit for your paychecks if it is available. If you want to save a certain percentage of your money, set up an automatic transfer from your checking account into your savings account. You can automate transfers into individual retirement accounts, and even tell your brokerage company to purchase shares of the same investments each month. These automatic transfers can take place on specific dates each month, so you can predict when money is being moved. (See also: 5 Ways to Automate Your Finances)

Simplify your everyday finances

You can free yourself from the work and stress of money management by keeping things relatively simple.

If you are careful to always live within your means, saving money is practically automatic. Pay your bills on time regularly and you won’t have to concern yourself with things like credit card interest rates or debt payments. Invest largely in index funds and monitoring your investment portfolio is a cinch. If you own your home free and clear, that’s one less big monthly payment to worry about. This is not to say that your finances won’t require some maintenance, but if you keep things simple, it’s not a heavy lift. (See also: How to Manage Money When You Hate Thinking About It)

Outsource it

You may not be able to hire someone for every aspect of money management, but you can get a lot of help. Financial planners and investment advisers not only offer advice, but…

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