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Weekly Links: Simplifying Your Finances

As a part-time blogger I found it impossible to stick to any type of posting-schedule. Now, I have no excuse! That means Friday roundups of my favorite personal finance articles from around the Web are back…with a twist. Each week’s links will focus on a theme. This week…simple finances.

Yesterday, I was inspired by Man vs. Debt’s post 42 Ways to Radically Simplify Your Financial Life (and judging by Twitter, I wasn’t the only one). The list starts with the obvious: Focus on one goal at a time. Consolidate bank accounts, cancel credit cards, and use cash. But from there it gets interesting. Perhaps my favorite piece of advice is to make a list of everything you own and sell half of it within two weeks. That kind of thing may not be for everybody, but if you want to simplify, you can’t beat it.

Along the same lines, PT Money has a great post reflecting on his own efforts to clean his financial house: Clean Finances, Clean Minds.

This morning I posted a new tool called the Really Simple Budget Worksheet (guess I’ve really got simplicity on my mind). The printable version of that budget worksheet goes back to pencil and paper. Not that I don’t love all these cool new online budgeting tools, but sometimes it’s just easiest to lay it down on paper. Matt over at Debt Free Adventure agrees, as he describes The Modern Pocketbook. It’s not what you think. I.e., not a purse. You’ll just have to read the post to find out.

Moving along to ways to simplify more specific aspects of your finances, I have to point out the Generation X Finance article: If You’re Going to Consolidate Debt then You Have to Stop Using Credit. I did not learn that one fast enough back when I first started my battle with debt!

About David Weliver

David Weliver is the founding editor of Money Under 30. He's a cited authority on personal finance and the unique money issues we face during our first two decades as adults. He lives in Maine with his wife and two children.

Comments

  1. I too am finding that simplicity is one of the few things that all of us need more of! :-)

    Manual recording just makes sense. We can supplement it with software, phones, etc… but no one should go without a “Modern Pocketbook” to track and organize their finances (I should create a “Modern Pocketbook Challenge” where I have people test it out for 30 days.)

    Per selling half of my stuff… I WISH my wife would go for this because I would do it in a heartbeat!

  2. David Weliver says:

    I’d be down for a 30-day “Modern Pocketbook Challenge” for sure. And, I’m in the same boat. I’d sell half of my stuff in a second but I doubt I could ever get my wife to agree. Oh, well!

  3. If you can’t buget on a piece of paper first, how are you going to use software and phones. Definately keep it simple!

    -Dan Malone-

    P.S. You becoming a full time blogger has inspired meet to continue efforts with my blog, it was on the verge of dying.

  4. David Weliver says:

    Definitely don’t give up, Dan! Blogging is a marathon, for sure. Glad my story inspired you!