05/08/2017 12:05 EDT | Updated 06/20/2017 10:31 EDT

Ways You Can Bank And Breathe Easier

Banking can be stressful for those of us who aren't financially savvy. But tackling your banking head-on allows you to simplify your life and reduce your overall stress.

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Banking can be stressful for those of us who aren't financially savvy. But tackling your banking head-on allows you to simplify your life and reduce your overall stress. Setting up an all-in-one bank account like Manulife One is a perfect example of how you can outsmart your debt and streamline your life. Here are other ways that you can simplify your banking and reduce your stress levels, presented in partnership with Manulife One.

Learn to automate

The fewer steps, the better. Make sure to set up automatic bill payments for monthly costs, like car insurance, utilities, and cellphone bills. This way, you don't run the risk of missing a payment.

Take advantage of mobile banking

We practically live on our phones, so what better way to maximize their use than to bank on them? Downloading a banking app on a mobile device allows you access to your bank account with a touch of your fingertip. You can look at your accounts, bills, and transfer or deposit money. Taking advantage of mobile banking is a major time saver and life simplifier!

Set up automatic savings payments to yourself

The best way to save with little fuss and stress is to automate your saving payments. Decide on an amount you're financially comfortable with and have it withdrawn and deposited directly into a savings account for you to use or invest as you see fit each month. Not only does it simplify your banking, it's the most effortless way to save.

Demand flexibility from your banking institution

Life is unpredictable and unexpected expenses and financial setbacks can creep up on us. Sometimes even a bonus or a tax refund can't be used to its full potential because of paydown restrictions on a mortgage. To that end, many financial institutions respond with heavy monetary penalties when you try to alter the terms of your agreements or even try to repay your mortgage more quickly. Manulife One lets you enjoy the kind of flexibility that allows you to repay your debt -- when you have extra money available while allowing you to access the equity in your home when you need to.

Consolidate your debt

Find the most reasonable low interest rate consolidation loan or line of credit. The easier it is to track your debt, the more aware of it you'll be and the better equipped to tackle it. Consolidating all your debt and your loans also means that you might be able to negotiate a better payment rate, reducing your overall payment and long-term debt. A Manulife One account allows clients to consolidate their mortgage, debt, chequing and savings accounts along with their income into one account, so they can save thousands in interest and get a clear snapshot of where they are financially.

Life can be complicated but there are tools and resources that can help you make it through. For example, every deposit into your Manulife One account reduces your debt, saving your interest costs until you need to withdraw funds again to pay for your monthly expenses. This in turn simplifies your banking as it is an all-in-one financial solution that combines your mortgage, line of credit and your banking account (chequing and savings) into one easy-to-manage account. Find out what else Manulife One can do for you here and uncover the #mortgagetruth.