S-I-M-P-L-I-F-Y

Life is fun. And, easy. And, in no way stressful. The same is true for our financial lives. It’s always easy to remember our passwords. And, if we don’t, remembering the precise way you answered the secret questions is always a breeze.

Of course, I capitalized the city where I went to college. And, I did not abbreviate the street I grew up on.

Or did I?

Or did I?

Oh, well, it doesn’t matter, because if I can’t remember something, help is on the way. In fact, usually a person from the company knows that I’m having trouble, reaches out and graciously offers their time to get me set up. Then, they stay on to help me navigate their service until I find all the information I need.

Yes, this life is easy! Unfortunately, this life is not real life, especially not in 2025. Each company you interact with has its own unique qualities. So, you have to learn their system, their language. This is a big reason why it’s important to simplify life as much as possible. Fewer systems means less to understand. Less to manage.

Here we’ll look to help you simplify your financial life. More often than not, you can simplify without losing much beyond the headaches associated with managing all the excess.

Here we’ll look to help you simplify your financial life.

Specifically, what are we talking about?

The first step is consolidating accounts.

Duplicate types of accounts. Having IRAs and 401ks all scattered about at different financial institutions. Having multiple brokerage accounts with similar strategies used to fund the same goal. In some cases, multiple bank accounts intended for the same purpose.

Having IRAs and 401ks all scattered about at different financial institutions.

Overlapping investments. Holding a number of virtually identical positions, like an S&P 500 mutual fund and a similar product in an ETF version.

Unnecessary credit cards – There’s no rule of thumb on the right number of cards, but cards that are rarely used may be good candidates to close. There’s a balancing act to closing credit cards so they don’t adversely ding your credit score. But, more cards means more to keep track of, and more opportunities to miss payments, which also has an adverse effect on your credit.

Subscription services – It feels like we buy most everything today as a subscription. These monthly payments can be a good thing in that they’re easier to stomach than a large one-time fee, especially if you’re not sure you’ll like the product or service. The downside is you have to stay on top of cancelling your unwanted subscriptions. Otherwise, you’ll end up with bills for stuff providing you no real value.

Subscription services – It feels like we buy most everything today as a subscription.

The next step is automating. The goal is to fund your priorities and reduce decision fatigue.

Automate your savings and investments. Set up a monthly plan so you don’t have to decide month-to-month. With many brokerage firms, you can automate your contributions and the investments.

Automate your credit card payments. This will help you avoid missing a payment. Yes, this means keeping a cushion in your bank account since your spending and payments will likely fluctuate each month.

This will help you avoid missing a payment.

Automate your subscriptions. If you got a promotional rate, set a reminder in your calendar for the date the price adjusts higher. You’ll be best positioned to decide whether you want to continue the subscription. It beats constantly wondering when the promo rate ends.

This is just a sampling of the ways you can simplify your finances without readjusting your goals or your overall strategy. The real beneficiary of simplifying your financial life is your real life. It should free up more time and more brain space for the more enjoyable parts of your life.

Time for you to talk back:

Time for you to talk back:...

What’s your favorite way to simplify your finances?

This material is provided as a courtesy and for educational purposes only. Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation.

All views/opinions expressed in this newsletter are solely those of the author and do not reflect the views/opinions held by Advisory Services Network, LLC.