Top 6 Monthly Financial Tasks You Could be Paying a Lifestyle Money Manager to Do for You

Keeping track of your financial life can be overwhelming (and annoying!) once you’re a bit older. The tendency to slack on bill payments or altogether fail to meet certain monetary obligations significantly increases. Age aside, it could be that your work schedule is packed thus have little to no time to attend to other details. Or perhaps a major life change occurred such as the death of a spouse.

All the above are potential situations that would require the help of a daily money manager. Simply put, their core duty is to clarify and organize your financial life such that things run smoothly. They step in to perform multiple money-related tasks ensuring that you stay on top of your records, leaving nothing to chance. And as you can tell, their services not only apply to older citizens, but anyone in need of smart money management.

Here are some of their areas of expertise:

Balance Bank Statements

Balancing out checkbooks requires a keen eye on all transactions. It includes accounting for what comes in monthly and what goes out. There are deposits, withdrawals, cheques, debit, and credit cards to be considered all of which must be entered correctly to arrive at a true balance. An error would risk a fee penalty too.

Money managers have a wealth of experience in analytics and checkbook reconciliation so you don’t have to do all the hard work. Also, with an extra set of eyes solely given to monitoring all financial transactions, it becomes much easier to balance out your checkbooks accurately.

Setup AutoPay For Recurring Payments

Are you having a hard time keeping tabs on your recurring expenses? This no longer has to be the case with a professional money expert by your side. Important lifestyle bills such as cell phone, water, energy, gym, can now be scheduled for automatic withdrawals on due dates. That way you will never pay another bill late.

As a bonus, in case unnecessary monthly deductions have been ongoing, a money manager can easily detect the same and take appropriate action

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Compile Investment Performance

For individuals with large investment portfolios, it gets hard to oversee multiple assets without neglecting either one. A money manager however is trained to multitask in this area, effortlessly evaluating performance and consequent returns, without fail. Say goodbye to poor investment management.

Monitor Active Insurance Filings

Whatever the insurance product, whether medical, life, or accident policies, premium payment is essential for maintenance. And not only is that, upon contract maturity, the beneficiary eligible for reimbursement. With a money manager, all insurance-related tasks become less strenuous. In case of any mishaps, such an expert is better placed to follow up and see to it that irregularities are ironed out.

Other than fulfilling insurance obligations, a money manager can also research better insurance rates and recommend a better service provider.

Compile and Organize Important Financial Documents

When it comes to tax returns all filings must be accurate, complete, and timely. Along with helping clients pay their taxes on time, money managers equally ensure that such data is stored safely for future reference.

Research & Hire Home Services

Being that lifestyle experts are involved in making independent living smoother, they can spot essential home services that you may need and follow up to hire extra help -- if you have the financial muscle to take on some added responsibility.