Tuesday, May 19, 2009

organizing your finances

If you are going to be organized in any one aspect of your life, the number one most important place to be organized would be your finances. Not being organized in your finances can literally cost you money, jeopardize your credit score.

1) Keep all of your financial records and files together in one place….period.

2) Set yourself a schedule to pay bills and stick to it. Pick a time that is convenient for you and when you can have some peace and quiet without being interrupted. You may want to change all your due dates to a specific part of the month…yes you can really do this and it saves you tons of time because you pay all the bills at one time.

3) Balance your checking accounts regularly. Also, get in the habit of checking your online account balance often…to keep you in the loop and help prevent any fraudulent charges.

4) Use direct deposit to save on trips to the bank and gas money.

5) Consolidate all your unneeded accounts into your main account(s). Even if there are minor fees associated with closing the accounts, it will be worth it not to have the hassle of keeping track of those accounts, statements, etc.

6) Have a current will. Tragedies do happen. Don't leave your loved ones with no idea of how to sort out family finances in the event you're unable to. Share with them the company names, phone numbers, website addresses, account numbers, usernames and passwords.

The bottom line for organizing your finances is to develop a plan that works for you. Everyone's situations are different and what works for one person or family may not work at all for someone else. A computer software program might be the thing for you or maybe good old-fashioned pencil and paper.

When you find a system that works, be consistent. To say it again, this is the one area of your life in which you can't afford to be disorganized. The great part is that just a few steps and some motivation will have you on the road to organizing your finances!

For more organizing information, visit my website: www.andreadekker.com

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Blogger junkermidge said...

Organization can definitely come in handy for all us junker types. You're doing a nice job on your blog and I'm passing an award on to you. Visit my blog to check it out. Talk to you soon.

May 19, 2009 at 9:02 AM  

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