By: MoneySense staff | MoneySense.ca | August 22, 2012
Read More, and see what Scott Plaskett says about a simple way to save
Let’s face it—life is busy. Between work, kids, friends and paying bills, things get pretty hectic. Yet we have a tendency to add to that pressure by complicating things that should be kept simple. Finances are a perfect example. In a strange way we feel the more we spread our money across several accounts, the more control we have over it. But nothing could be further from the truth.
The best way to gain control of your money is to streamline your bank accounts and bill payments. By consolidating your accounts you accomplish two key things: you simplify the day-to-day routine of your family’s finances, and you clear the way to reach your financial goals faster. “Having too many accounts at various banks is distracting,” says Scott Plaskett, senior financial planner and CEO of IRONSHIELD Financial Planning in Toronto. “It’s like a mosquito that buzzes around your head and then starts gnawing at you until you do something about it.”
