In fact, the old advice that “less is more” also applies to economic life. In this way, simplify your finances can bring much more than money into your life.

Next, understand how it is possible to simplify your financial life without losing quality!

In fact, in finance, it is possible to reduce to have more. This idea seems contradictory, but they have a very simple relationship to understand.

Anyone who decides to simplify their financial life can do much more than just run away from useless fees and services.

Those who simplify have much more “peace of mind” because they have fewer worries and decisions. To simplify your finances is also about the quality of life and mental health.

Below, learn about five ways to promote a beneficial simplification in your financial life:

In fact, in many cases, many financial accounts no longer mean benefits. On the contrary, you will have more fees to pay.

Also, your money will be spread across many accounts, making it difficult to manage these assets. You’ve often created accounts to get perks you never really enjoyed or don’t use anymore.

Thus, it is much more advantageous to concentrate your money in one or a few accounts. The same goes for savings accounts.

Bank marketing has become an expert in attracting customers by offering credit cards. Some collect and are proud to say they have six or more.

At first, you take out a card to better manage your bank account. Then a card to earn miles, another for rewards programs, another to transfer balance, and another to take advantage of the 0% APR period.

So managing all these products requires energy and time. In addition to making your financial life disorganized, this collection of cards interferes with your health.

Some researchers have linked using credit cards to increased stress levels. Simplify: choose the best of these, cancel the others, and have more peace.

In fact, the financial market is an opportunity for you to maximize your income. It’s a way of making “your money work for you”. We at Foster Money encourage you to invest in this market.

But it’s important to know what you’re doing before hitting the “buy” button on the action someone indicated. However, if you want a simpler financial life, here’s some advice: buy funds.

As you already know, you are more likely to profit positively in the stock market by betting on diversification. Funds are pools of selected stocks that you can buy with one click.

So instead of researching stock by stock, buy good funds. We are not indicating this option because it is easier and less stressful. Just see the graphics.

For example, funds that simulate the S&P 500 are more profitable than approximately 90% of other stock market options over the long term. So simplify to earn more.

Most likely, you have a lot of financial goals and dreams to fulfill. Changing a car, buying a house, traveling the world, paying the bills, investing enough not to have to work…

We know that all these goals are important to you. However, it’s practically impossible to do them all simultaneously (unless you win the lottery).

Therefore, you should not try to fulfill these desires all at once. Your energy would be scattered in many tasks, and none of them would receive the necessary effort.

You don’t have to give up on your dreams but focus on one goal at a time. Organize them into a priority list. Then put together a financial plan to achieve it. When you reach a goal, move on to the next.

Remember: never leave your goals list empty.

Indeed, TV and the internet are endless information on any topic. Nowadays, it is fashionable to take a camera and give advice on finances, for example.

That’s not exactly a problem, as it’s part of freedom of expression. However, you don’t have to and shouldn’t go with that flow.

We do not underestimate the power of information but believe that, in excess, it becomes “mental pollution”. Most of the recently consumed content hasn’t made us any smarter.

On the contrary: it left us more confused, stressed, and worried or it just became wasted time. So, for the sake of your financial and mental health, cut down on your time in front of screens in feeds or news.

Keep a safe distance from this stream of information, so you don’t get carried away.

This is an old tactic, but it always works, especially for those with a tendency to spend. To avoid swiping your credit card, which for some feels like “infinite money”, withdraw your monthly earnings.

Just leave a portion of your emergency fund in the account. The rest of your money should be organized into envelopes for each expense: groceries, rent, bills, card balance, entertainment, etc.

Each time you spend, use the money in the corresponding envelope. When this is empty, you will not be able to spend more in that category. This is a simple way to track expenses and stick to a budget.

There is a free way to simplify your finances and budget in seconds with just a pencil and paper.

This method is the most recommended by specialists and is already widely used worldwide. Want to know what budget plan we’re talking about? Access the post below and learn about the 50/30/20 method!