9 Easy Money Moves You Can Make in 10 Minutes or Less

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time moneyMinding your money doesn’t have to be time-consuming.

No, really!

There are plenty of quick and simple steps you can take that can have a positive impact on your financial well-being—like these nine money to-dos that should take only ten minutes (or less!) of your time.

So what are you waiting for? The clock is ticking!

1. Set up an automatic savings transfer.

We all want to save more of what we make, but sometimes life gets in the way. Our best intentions can get waylaid by a busy schedule, a few spending splurges, or just plain forgetfulness.

That’s why setting up an automatic savings transfer from your checking account often can be one of the easiest and most effective ways to get on a better financial path, says David Blaylock, a LearnVest Planning Services Certified Financial Planner™.

How to do it: Most major banks offer automatic transfers online—in fact, it’s often one of the first options you’ll see when you log in to your account.

And you don’t need to be overly ambitious with your savings rate from the get-go. You can start by setting up a recurring transfer amount that you know you can afford—and then try to steadily increase that amount every few months.

Time it takes: Less than 5 minutes.

2. Check your credit score.

Roughly half of Americans don’t know their credit score, which is like the financial equivalent of not knowing your Social Security number. Since it affects the kind of interest rates you’ll get on loans and credit cards, you may find it critical to review your credit score regularly to see how healthy it is.

“It’s like a report card” for your finances, says Blaylock, explaining that it helps give you an idea of whether you need to pay down debt, avoid opening new lines of credit, or close credit cards you have but don’t use.

How to do it: Several online services will provide your credit score from one of the three major credit agencies free of charge. CreditKarma.com offers your score from TransUnion, CreditSesame.com provides your Experian score, and Quizzle.com delivers your number from Equifax. For $19.95, you can also get all three scores through MyFico.com.

Time it takes: Less than 5 minutes.

RELATED: Checklist: I Want to Monitor and Improve My Credit Score

  • pamb

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