Habits that can make a financial difference

There are a number of habits that can help you financially and some of them are quite simple. Read on for an article with some good habits that can help you financially and please share some of your own.

I think one of the most important habits he shares is to review your credit card and bank statements every month. I have found a number of fees in the past that I should not have been charged and a simple call to the bank or credit card company was all it took to get them removed.

By Joel Fink

A friend of mine recently told me about something interesting that happened to her. She was going through a stack of mail that had been accumulating on her dining room table. Most of it was junk, but one of the envelopes was from her insurance company. She opened it, thinking that it was just another explanation of benefits, but it wasn't. It was a check.

She went through the rest of the stack and found another check from the insurance company. The total amount was several hundred dollars. Those checks had been sitting in that stack of mail for weeks.

Her experience is a good example of how developing a few simple habits can positively impact your finances.

Opening the mail can be a tedious task, especially given your busy schedule, and mail can contain both good news (i.e. checks) and bad news (i.e. bills).

However, establishing a regular routine of quickly going through your mail (like right when you get home from work) can save you money and headaches. Also, unless it is absolutely clear that the item is junk, make sure and open it before you toss it in the recycle bin.

Those credit card and bank statements can be so long and boring. Besides, who wants to be reminded of money that you have spent?

It's important to review the activity on your statements. Make sure you recognize each item. You might find a recurring charge for a streaming service that you had turned off. You might find an interest charge or a fee that shouldn't be there, or a payment that didn't get posted. Most importantly, if you see charges that you don't recognize, it may be a warning that your identity or credit card information has been stolen.

Throw your leftover pocket change in the jar at the end of the day. You'll probably be surprised how much money will accumulate in the jar over the course of weeks. Also, if you need change to wash a car, pay a toll, or feed a parking meter, you know right where to get it.

Put an empty box in the location where you store important documents. Toss your receipts, paid bills, statements, or other documents that you want to keep in that box. That way, if you are looking for a receipt or other document that you haven't filed yet, you'll know where it is.

What other simple habits have you found that help you financially?

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