The Covid-19 pandemic has made us all anxious and according to a 2021 NextAdvisor study, 51% of Americans experienced financial hardship and increased stress when it comes to their finances during the pandemic. To help alleviate any financial stress that you may have, here are 5 tips that you can easily implement to help you save more money in 2022 and take control of your financial future.
Every month, the average American family pays 10+ bills a month across rent, utilities (electricity, gas), internet, insurance, mobile phone plan, and many other recurring bills. Besides your monthly expenses, you also likely have to remember to pay semi-annually or quarterly bills, making it hard to keep track of your bills and pay them on time. When you do get to paying the bills, you probably also have to remember multiple websites, user IDs, and passwords. All these bill-paying hassles lead many people to slide into a few bad habits that end up causing them to waste time and money each month.
The problem with tracking monthly bills yourself is that you have to put time, energy and brainpower into reviewing every bill and your extensive bill tracking mechanism. Many businesses have the ability for you to see and pay your bills online, but if the average household has 11+ bills a month, and all of the information is manually entered into a spreadsheet every month, managing the payments can be a tedious process.
Visibility to your bills, the amounts due and managing discrepancies is a common problem regardless of your financial status. Everybody has their own way of managing their bills and the majority of people are simply focused on ensuring that their bills are getting paid.
Over the last few years, we have seen Uber disrupt the taxi/transportation industry, AirBnB disrupted the hotel industry and Zelle the money transfer industry. BUT, we still pay and manage our monthly bills with excel spreadsheets, multiple websites and...
A few years ago I learned that 45% of Americans do not have enough savings to support a $300 emergency and that 25% of Americans don’t have a retirement fund. I found these stats to be shocking and the more that I researched the more I found there is a lack of financial wellness across our country.