Hear the Words ‘Get Organized’, and What Do You Picture?
Most likely, it’s a cleaned-out closet, an orderly garage, or a neat desk, all of which are terrific goals. Cleaning up and cleaning out is emotionally liberating … And discovering what you have versus what you need will save you time and money.
But those tasks aside, how often do you also think, ‘While I’m getting it all together over here, shouldn’t I also organize my personal finances?’
Probably rarely, if ever, right? The truth is most folks don’t even know where to begin.
To help you get started, we recommend the following steps:
For each calendar year that includes folders for bills –paid and unpaid–receipts, pay stubs, tax deductions, coupons, loans, insurance, investments, automobiles, and any other recurring expenses.
2.) Create a File
For all of your accounts, usernames, and passwords. You think you’ll remember them, but you won’t.
3.) Keep a Calendar
Reminding you which days unpaid bills should be sent and then stick to those dates. In addition, set yourself up to pay regularly scheduled bills electronically, to ensure that you are never late/penalized, and don’t forget to record those payments in your files. Similarly, if direct deposit is an option for your paychecks, utilize it, but make sure the money is in your account when it’s supposed to be. You can’t spend what you don’t have.
That you don’t actively use. Make it your mission to pay off whatever is due each month: the minimums at the minimum!
5.) Create a Budget
To control your future spending; consider your needs vs. wants vs. saving goals. Review your budget monthly and revise it when necessary. This can take a bit of time, but it pays off.
6.) Pay Whatever You Can
On the credit cards you’re maintaining, so you can obtain company rewards and track exactly where and how you are spending. This can also help you fine-tune your budget and curb unnecessary spending.
To get rid of anything with personal or financial information on it. Minimize identity-theft vulnerability.
8.) Organizing Everything!
From your home to your finances—certainly takes some time, but starting is often the hardest part. Schedule a few hours in your calendar and take the plunge. Within weeks, you will notice the benefits of taking charge of your life.