Now that you've retired, you have more time to focus on yourself and the things most important to you. So, in order to balance those aspects of your life, consider handling other aspects, such as your finances, in a more efficient manner that can save you time, money and maybe a few gallons of gas.

Thanks to online banking you no longer have to rearrange your schedule to get to the bank and handle your financial transactions on the bank's schedule. You can do your banking on your schedule - 24 hours a day, 7 days a week. In fact, as long as you can connect to the Internet you can take care of business at anytime from anywhere, even if you're on vacation, out of state or out of the country.

Online banking can also save you money. By paying bills online, you no longer have to write as many paper checks which means you won't have to order them as often from your bank, either - again, saving you a few extra dollars.

And with the cost of gas these days, anything you can do to save yourself an extra car trip is a smart choice. With online banking, multiple trips to the bank each month can become a thing of the past.

What works for you?

You can use online banking on a level that makes you feel comfortable. If you just want access to your accounts (checking, savings, money markets and certificates of deposit), most banks or credit unions allow you create a secure online account on their website where you can monitor your accounts (check balances or watch for discrepancies) and transfer funds - usually, all free of charge.

A step up would be to create online accounts for your bills - utilities, credit cards, magazine subscriptions - on each company's website, if available. You can use your ATM/debit card or your actual bank account to pay your bills - all online, from the privacy of your home. You can still receive paper bills each month, as well as opt to receive email reminders when your bill is due.

Or, you can get deeper into online banking by purchasing and installing money management software, like Quicken or Microsoft Money. The cost for this type of software can range from $20 to $100. This service lets you download your account information to your home computer so you can:

• pay bills,
• monitor accounts,
• track spending,
• create and track financial goals,
• monitor your investments and your financial portfolio,
• store statements and records electronically and more.

Because of these enhanced features, there may be some additional monthly fees - ranging from $3.95 to $6.50.

Is Online Banking Safe?

Yes, if you take the proper precautions. You need to have an Internet browser that supports the highest level of encryption. This prevents transactions from being read.

Review information and tips from the Federal Deposit Insurance Corporation (FDIC) to help you if you are thinking about or already using online banking - Click here.

Here are few more security strategies from CNNMoney.com - Click here.

Whatever you decide for managing your finances, or anything in life, choose a route that you feel comfortable with and one that works to make your life a little easier.