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How to Declutter Your Financial Life

By Adam Shalvey

  • PUBLISHED January 23
  • |

When you simplify your finances, you may find ways to save and invest more in order to reach your goals. Here are the first steps to take.


Roll over your 401(k) accounts.
Combine retirement accounts from former employers into a single IRA.


Cut your debt.
To have fewer bills to track, pay down debt, from smallest to largest statement.


Put your money to work.
To get a better interest rate on long-term savings or your emergency fund, move money into a high yield savings account.


Be automatic.
Never pay a late fee. Set up automatic bill pay from one account.


Root out invisible spending.
Still paying for that gym you quit? Check your statements and get rid of needless bills.


Get rid of old paper files—and stop making new ones.
Scan what you need to have on record, then shred the rest. Go digital for bills and financial records.


Adam Shalvey is a writer living in Newport, Rhode Island. His work has appeared in many financial publications.

Illustrations by Adam Hayes.

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