10 Easy Moves That Will Save You Time and Money

Finances too complicated? We've solved the puzzle with 10 easy moves that will save you time and money.

- Sandra Block and Kathy Kristof

Back in the day, TVs were all basic black and-white sets with on-off knobs and a choice of four channels. People saved money in a bank account, carried a department-store charge card, and could fit all of their important papers in the proverbial shoebox. Today’s big screen entertainment centers come with hundreds of channels and multiple remotes. Likewise, consumers are free to choose among a vast array of financial products and services. That’s a boon to your finances, but it also makes life more complex and can become overwhelming. To cut through the clutter, we suggest that you think one and done: one credit card to maximize your rewards points, one manager for all of your retirement accounts, a single do-it-all mutual fund. Even if you make only one or two of our 10 moves, you’ll cut your stress and have more time to kick back—and you’ll save money, too.

1. Carry just one credit card in your wallet

Why tote around a clutch of credit cards for retail stores you no longer patronize or gas stations that are nowhere near your home? By consolidating your purchases on one rewards card that best matches your spending patterns, you can lighten your wallet and streamline your monthly bills; stockpile rewards points, frequent-flier miles or cash back bonuses; and reduce the hassle if your wallet is lost or stolen. (To find the card that’s best for you, see “The Best Rewards Credit Cards,” July.)