How to Organize Your Finances for 2019

From the Desk of Clearissa Coward’s Command Center – Guest Influencer

How to Organize Your Finances for 2019

Financial Planning

You guys know that I have a wide spectrum of DIY and craft interests;  however, today’s article is all about organizing a very different part of your life…your finances. I love an organized closet, computer, kitchen, however, organizing our finances is extremely important. Let’s get this new year off to a great start. Today, my new friend and fellow blogger/influencer is here to show all of us  How to Organize Our Finances for 2019. 

Let me also say, that although Tia’s advice and site focuses on millennials, her advice is helpful for generation X, baby boomers, and all other generations. It is never too late or too early to get your financial plan in order.

There are affiliate links within this post. However, all opinions and ideas are my own. Clicking on and using the links to purchase products does not increase your cost at all. I appreciate your support.

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Take it away Tia…

Before a new year starts many Americans focus on deep cleaning their houses.  It is said that cleaning your house before a new year starts ensures that you are leaving unnecessary baggage in the previous year.  Just like it is important to organize your house regularly it is also important to organize your finances.  Check out these three tips to organize your finances in 2019.

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  1. Gather your important financial documents

The first step to organizing your finances is to gather your important financial documents. Your important financial documents include your bank statements, retirement plan statements, credit report, and investment files.  It is important that all of those items are located in a safe place that you can access when needed.

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If you do not have a copy of your credit report, you can receive a free copy from all three of the major credit bureaus annually from www.annualcreditreport.com.  I pull a copy of my credit report from each of the three credit bureaus annually to check for accuracy.

  1.  Review your financial documents

Now that you have located your important financial documents, it is important that you review them.  When reviewing your financial documents, you can check for inaccuracies as well as dissect the previous years spending habits.

According to the Federal Trade Commission, approximately 20% of American’s had a mistake on their credit reports in 2013.  A mistake on your credit report can result in your credit score showing up as lower than it should be and can affect the interest rate you receive when getting credit.

Similarly to your credit report, it is possible to experiences errors on your bank account statements.  Personally, my auto insurance company charged me triple the amount for my auto insurance.  Fortunately, I checked my bank account statement and was able to get the charges corrected.  Take this time to review your bank account statements for any inaccuracies and to see if there are any services that you no longer use that can be canceled.

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  1. Set goals for 2019

The last step to organize your finances is to set goals for 2019.  Now that you have gathered your financial documents and reviewed them, it is time to set goals for 2019.  There are many different financial goals that you can set.  They can be regarding saving money or paying off debt to name a few.

It is essential to set SMART goals regarding your finances.  SMART is an acronym meaning specific, measurable, attainable, realistic, and timebound.  For example, one of the SMART financial goals you may set for 2019 is to check your credit report every four months and dispute any inaccuracies after that.

Overall, just like you may organize your household, it is important to organize your finances.  Your wallet will thank you later, and you’ll have a clear path to reaching your financial goals.

Thank you Tia for this great advice. However, more important than thanking Tia let’s all take advantage of her advice and commit to getting our financial life in order. Let’s all commit to grow financially in 2019.

Tia, you are invited back to drop your financial knowledge here at the Command Center again soon.

Author Bio:  Tia is a Certified Financial Educator with over 9 years of experience in the banking, student loan, and investing industries.  After raising her credit score 150+ points, she founded Financially Fit & Fabin 2016 to help millennials kick their finances in shape.  The site focuses on budgeting, credit, saving, investing, homeownership and making extra money.

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Until next time…I remain in my Element – God Bless!

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2 thoughts on “How to Organize Your Finances for 2019

  1. Great organizing ideas – pinned and shared

  2. Thank you Carol.

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