Simplify Your Finances

Simplify Your Finances

Core Facts

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Tax season is over, and here are a few ways to simplify and take control of your finances for the rest of the year:

1. Find out what you did right

A lot of times we will try to fix what was wrong and don’t take time to reinforce the good habits and things that we were doing right. 

If you were contributing to your savings last year, recognize that this was a great habit to have, and continue supporting it. And if you can automate those types of activities, all the better, whether 401(k) payroll deduction or direct deposit from a bank account.

So if you really want to save for a goal, decide now how much you want to stash each month, and have that money moved from your account on payday. If you never see it, you’ll never
miss it.

2. Checks and balances

For obvious reasons, it’s a good financial habit to monitor your bank and credit card account activity on a regular basis. And fortunately most financial institutions offer online alerts that do a lot of that monitoring for you. You can even set the dollar amounts for balances or purchases with some banks. 

Additionally, for credit cards, you can set payment reminders. That way, you won’t get hit with a late fee (which could be as much as $39 each time, according to 

3. Big picture

Online financial tools and apps like allow you to see your bank accounts, investments, credit cards, loans, and credit scores in one place in real time. And you have the ability to access that information anywhere, whether you’re on your work computer, smartphone, or home PC.

The tool also lets you to create a custom budget, print reports, or export data into Excel or Quicken which allows for easy collaboration with your tax preparer.

4. Less cards

Transferring credit card balances on high-interest rate cards to one with a lower rate may help you consolidate your monthly payments and save on interest. Once you’ve done that, if you’re worried about using the cards again, shred them rather than canceling them. You’ll still have the credit line in your name, but you won’t have the temptation in your wallet.

5. Get your priorities straight

There are many different ways to prioritize and clarify your financial goals. Give some reflective thought to what you want out of life, now and in the future, and realign your efforts towards achieving your goals. 



Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC


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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website:

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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