The largest challenge that people experience with personal money management is the fact that our finances are scattered to thin across to many places.
Each payment has a different due date, different penalty amount and different Terms and Conditions. Simply put the biggest challenge is not finding the better deal to shave off a few bucks here and there, rather establishing a rigorous and structured financial plan that fits within our budgets and works like clockwork.
To this effect, my best recommendation is to first go after the low hanging fruit- Consolidate your financials into one location (Yodlee Money Center is a great place to start with). This is often termed “Account Aggregation”.
Pull all your financial data into one portal, meaning load all your bank, credit card, insurances, loans etc.. into one portal. There are many services that do this today at minimal cost. It’s worth the money!
Now that you have consolidated all your finances, place reminders, auto bill pays to make sure that you don’t miss the due dates and pay a hefty penalty. Once you have used technology to help discipline bills that are coming at you from all different directions, sure shop around and see if you can get a lower rate.