A strange phenomenon occurs for a high percentage of my coaching clients when they work with me… They find money they forgot they even had!
You might be saying to yourself, “Oh that must be nice to have so much money that you forget about some of it! That definitely would NOT happen to me.”
I wouldn’t be so sure of that! If you are NOT spending regular, quality time managing your money weekly, you’re probably forgetting some of your money, too.
My clients hire me because they know their finances are disorganized and out of control. They’re flying by the seat of their pants with their day-to-day money management, but they want to change that for the better.
When they follow my process of Mindful Money Management, they begin to feel empowered and in control of their finances again. After a few sessions, my clients start reporting their “forgotten money” to me: old bank accounts they thought were closed, an uncashed check found in a pile of paperwork, or cash tucked into winter coat pockets.
In fact, just last week, while on a coaching call, one of my coaching clients found forgotten money in the amount of over $1,000!
It’s even easier to lose track of our money now that most of it is electronic. There used to be a time when all of your money was held in one bank, with maybe a little stash of cash at your home. Today, the norm is to have accounts with multiple banks, PayPal, Venmo, E-Trade, etc.
My husband and I have ten accounts across three banks, two PayPal accounts, plus multiple investment accounts. This is why it’s vital for me – and you! – to be managing your weekly.
Did you forget your money? Here are place to check:
- 401(k)’s with past employers
- E-Trade, Fidelity, TD Ameritrade, or other brokerage accounts for stock or cash balances (Do a search at Unclaimed.org)
- Old checking and savings accounts
- Safety deposit boxes
- Escrow accounts from previous mortgages
- Unpaid affiliate commissions
- Unused cash-back rewards
- Uncashed checks
- Loose change containers
- Unused gift card balances (Use them! You can also sell or trade your unwanted gift cards.)
If you recover some forgotten money, put it to good use! Pay off high interest debt, pad your savings account, or even splurge on something that’s meaningful to you.