Nichelle Womack, MBA

Serialpreneur | Fly Mom & Wife | Business Consultant | Real Estate Boss | Author | Lifestyle Creator

Nichelle Womack, MBA

9 Ways to Optimize Your Financial Life

They rarely teach it in school , but In business and in life, managing personal finances is critical to success. It’s easier to grasp the principles of money sooner vs later. Later often comes with consequences and missed opportunities.

There are so many tools available online and offline to help you manage your money. Managing your personal finances is a lot easier today with the large amount of free and paid software. Automation makes your financial run smooth.  It is very helpful to be ensured through automation that you don’t miss anything or get lazy and just don’t do it. This also saves your credit rating from going bad.

Each of these software choices are amazing and will help you get your financial life in order. Try a few of them to find which one works best for you. Remember, the software package that works best for you is the one you like, not the one everyone else thinks is best for them. If it’s not helpful to and for you, you probably won’t use it. So keep that in mind as you choose. The goal is to stay financially straight. Listed below you will find some of my resources that I’ve shared with clients and used for myself.

1. Mint – This is considered the number one free personal finance software. You don’t need to spend a lot of money to manage your personal finances. This software also has a mobile app and it’s great for what it does. Everything is in one place; it sends bill due reminders, integrates with your bank accounts and credit card accounts, and so much more.

Link – https://www.mint.com  

2. Shoeboxed – This software is perfect for small business owners. If you have a lot of receipts, this is a great option to keep track of your fiances digitally. You can use this software both on mobile and on your computer to keep track in the cloud of your receipts and documents. You can start as low as $15 or you can move up to the $69 plan. You can categorize the data you scan and store in the secure cloud space so that it’s all fully searchable.

Link – https://www.shoeboxed.com/

3. BudgetSimple – This software is super budget friendly and helps you set one up. It’s simple, fast, secure, and a great way to make and keep a budget. You will save money because you’ll understand your finances a lot better as you get everything organized. Track every part of your income and expenses and get automatic financial tips too. You can also link your bank accounts. It’s free to start and if you want, you can upgrade to the plus option which is less than $5 per month. It is more than worth it for that price.

Link – https://www.budgetsimple.com/

4. Your Bank – Most credit unions and banks today offer a lot of financial planning and budgeting resources included with your bank account. Take advantage of it. Go online and sign up for an online account for free if you haven’t already. If you’re not sure how,, make an appointment with your bank and they can show you what they have. This is a great first place to start.

5. Personal Capital – This cloud-based solution will help you with hidden fees, investment services, wealth management, data-driven portfolio management and so much more. It’s like a dashboard where you can see where you stand, all in one spot. This is for people who have started investing and have a real financial portfolio. Get started using it right away so that you can keep track.

Link – https://www.personalcapital.com/

6. Debt Quencher – I really love this software. It is for people who have credit card debt and want a simple way to pay it down. This software will help you do just that. You simply start by entering your balances and interest, pick how you want to pay it down, then follow the plan it provides until it’s complete. It’s really that simple.

Link – http://nothirst.com/debtquencher/

Overall, when you choose your software, test it out first to make certain it’s what you need and what you want to help you achieve your goals. What’s easy for one person to use might not be that easy for someone else. Choose what works for you so that you will really use it, make the most of it and get results.

7. Rize – If you are looking to save money with specific goals in mind, Rize is a great FREE platform. After each paycheck, Rize moves money from your checking account to your Rize account and applies it to your savings goals. I personally saved $3000 and didn’t even know it. That was money for my next family vacation.

Link – goo.gl/P2wxja

8. Acorns –  I know you probably have heard of it by now. But have you tried it? Acorns allows you to save and invest. This is another tool that I’ve used and unknowingly saved money that I would have been spending on useless things. Instead, I was investing at the same time. If you are ready to take your financial life to the next level with small investing, this is a great tool to start and use.

Link – https://acorns.com/invite/TVY7K9

9. Get Your Credit Right – Maintaining good credit will get you far in life. I don’t know about you, but I’ve had instances where my credit was so bad, I was afraid to look at it. I had over 100 credit cards upon graduating from college. Fortunately, my parents helped me bail out a lot of it. The reality is life happens and when life happens, something pays for it in return. Unfortunately it is often us robbing Peter to pay Paul and the credit is what typically takes the down turn. You won’t know how important credit is until you try to buy something of value like a house or a car for that matter. Credit is leverage. Use it to up level to your next level and be mindful of it being a tool for advancement. Check out this book Credit Secrets. The price you pay for it will pay you back over and over again by helping you to understand your credit better and leverage it for what it’s worth.

I’m Nichelle! I hope you found this information valuable and useful. If so, share it. Someone else may need these tips too. I’m a certified life and business strategist helping you to start, market, grow and profit in your life and in your business. Sign up for the personal financial challenge at Purposed Living. Are you social? Connect with me on Instagram for daily motivation, inspiration and business tips. Need a strategy for goal setting? Check out The Master Tip Manual for Personal Success Workbook.

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Blessings & Peace,

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