Summer is finally here! Major projects are coming to an end, a lighter work schedule, and quality time with family. I aspire to nothing less than programming time in slow motion. From spending time together, you probably know that I also love taking advantage of vacations—whether summer or holiday—to do administrative cleaning: sorting, organizing.
Don’t worry about my health, many other activities also occupy my free time! But I find that there is a little something enjoyable and even soothing about regaining control of your affairs, once in a while.
As a summer gift, I offer you some new and unusual suggestions to fill your time this summer. After all, there are always a few transition days between travel and organized activities, and we are not immune to a few gray periods.
Switch to virtual ranking. A clogged desk is always unpleasant, at work or at home. It’s time to open all the envelopes that have remained sealed for several months. Take the time to scan and classify what needs to be kept in a virtual file, taking care to name your documents correctly to facilitate subsequent searches. Then you can simply destroy those big piles — or even those boxes of accumulated waste paper — and lighten your mind (and your filing cabinets!).
Plan your cash flow. Are you the type to forget to pay your municipal tax bills or make your installment payments, in the madness of everyday life? Take advantage of these days off to plan these payments in advance or, at a minimum, to add an alert to your calendar with the amounts to be paid (a few days before each is due). This will save you significant penalties and interest. Even for bills with small payments, paying them automatically leaves more mental space to think about other things and be more efficient.
Automate your savings and investments. With mid-year having passed, it’s the ideal time to review your budget based on your actual expenses. You could give yourself adjusted goals for the next semester. In addition, you could establish automatic savings in your contingency fund for unforeseen events and short-term projects, as well as a regular investment in the stock markets (RRSP, RESP or TFSA; on this subject, ask your advise you to enlighten yourself).
Consolidate your assets. Are you the type to confuse scattering with diversification? Holding investments with multiple institutions makes monitoring your portfolio more cumbersome. It may be time to decide. To do this, I admit that you will need more than a few minutes between two iced coffees if you are advised by several people. This is the opportunity to choose with which professional you wish to continue your path. First step: you will have to pull out all your latest detailed statements for each account and compare their performance and composition, not by yourself, but by asking the professional of your choice for an overall analysis. The rest will depend on this review.
Shop and save. How long have you been shopping for home insurance or auto insurance? Do you have the best cell phone plan, the best TV plan? I leave it to the team at Protect yourself the care of guiding you on your consumption choices, but one thing is certain, if you do not take this type of approach when the daily clock is stopped during the holidays, you will certainly not do it in the madness of routine in September .
Evaluate the usage of all your subscriptions, credit cards and bank accounts. These are all small amounts, but adding them up can sometimes be surprising. Grab your pencils and make a list of all the apps you pay for each month. Which ones are really useful? Are you unsure about this one? Cancel it immediately and save. Also, take advantage of your vacation to close bank accounts that you no longer use, especially if you are paying unnecessary fees. Finally, since many pay annual fees on multiple credit cards, you might want to take the time to analyze the rewards programs you use and keep only the one that pays the most for you.
Unsubscribe from automatic emails. You’re increasingly receiving important bills and financial documents electronically. The danger is that these important communications get lost in a sea of marketing emails. By reducing the number of email subscriptions you have to different merchants, you not only reduce the chances of succumbing to impulse purchases, but you increase the chances of paying attention to important messages, such as the alert that your latest investment statement or assessment notice is available.
Keep this list of unexpected ideas handy. It’s up to you to personalize it according to your priorities and even make your additions. Hoping that, just like me, you will discover a new way to clear your mind during your vacation.
This column is taking a break for the summer. Back at the end of August!