Eight Steps to Simplify Your Finances

If time is a precious commodity for you, here are eight ideas to save time and reduce the stress and anxiety of managing your financial affairs.

  1. Enroll in direct deposit. It eliminates trips to the bank and eliminates the risk of your checks being misplaced, stolen or lost in the mail.
  2. Sign up for overdraft protection. By linking your checking account to a line of credit, your savings account or your credit card, you avoid the cost, hassle and embarrassment of a bounced check.
  3. Set up automatic recurring transfers from your checking account to your savings account. Establish an automatic savings plan. Over time, regular, automatic transfers to a savings account add up.
  4. Use BB&T online bill payment. It’s free and takes just minutes. Plus, it’s safer and more convenient than sending paper checks.
  5. Consolidate your financial relationships. Working with one financial institution that is capable of meeting all your financial needs is much easier than dealing with many.
  6. Consider personal financial management software. BB&T works seamlessly with Quicken® and QuickBooks®, which makes handling your finances easier and quicker.
  7. Build a rainy-day fund. Be ready for unexpected expenses, or have extra funds available for that special vacation. Many financial experts recommend having four to six months of income saved.
  8. Review your investments. Make sure your asset allocation matches your time horizon and risk tolerance.

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