2022 Home Revival Series
Organizing Your Finances
A Cozy Lifestyle with Clearissa Coward
Gas is over $4.00 in my area and I hear gas prices are even higher in other parts of the country. And it is not just gas. Groceries, clothing, cars, and almost everything else we need has increased in price this year. With that in mind, you need to get serious about Organizing Your Finances to know what you have and what you are spending. And I have tips for this in this post.
Is your financial paperwork a jumbled mess? If you answered “yes,” you are certainly not alone. The good news is that there are many simple things you can do to better organize your bank statements, receipts and even your bookkeeping-related paraphernalia. Continue reading to learn more. The task is probably easier than you think.
Think about Going Electronic
If you have not already done so, one of the first things to do on your quest to get organized is to consider going electronic. Once you perform the initial set-up and get the hang of it, it is so much faster than organizing the “old-fashioned” way. Another great perk is the fact that organizing your financial records electronically takes up a lot less space. This is a wonderful tip for most of us, but I will be transparent, that I still maintain several paper files even though I handle most electronically.
The vast majority of banks, credit card companies, utility providers, and other types of businesses already give consumers the option to receive their statements and bills electronically. If you are not already doing this, now is the time to sign up. It is typically fast, convenient and free.
When you are not given that option, there is a simple solution. Purchase an inexpensive scanner, which will then allow you to scan your printed bills and receipts into whatever software program you are using. Scanning your bills will allow you to maintain your backup material online instead of in a file drawer.
Whether you want to go electronic or not, you need to come up with a basic filing system that is easy for you to stick to and not get frustrated with. This works best when you coordinate your filing efforts with a calendar or organizer.
There are several ways to set up a filing system. The choice you make is up to you. These methods include:
* Month-to-month (a good choice for those who do not have a lot of credit card payments and other recurring bills)
* Color coded (if you are more of a visual person, color-coded files are probably for you)
* Subject or category (use broad categories such as “credit cards” and “utility bills,” or create a separate file category for each company you pay)
Do Not Procrastinate
If you have the time and inclination, it is better to open bills and other financial correspondence as soon as you receive it. Taking the time to file documents away, during the same session, makes things even more streamlined. Get into the habit of doing this on a daily basis or as your bills and financial correspondence comes into the house. You will see that it becomes habit forming.
The last thing you want is to wait several weeks to file things, only to spend hours transferring receipts and other documents from a huge pile on your desk or the proverbial shoebox to their (newly-appointed) proper location.
Now that you have some ideas in regard to organizing your finances, you are on the road to a tidier filing cabinet/system. Better yet, you can say goodbye to the frustration associated with digging through piles of documents to locate the specific financial information you need.
Depending on your current state of disorganization, sorting things out may take some time. But, that is okay. With a bit of due diligence, your financial records will be in tip-top shape before you know it. Now is the perfect time, tax time, to get your affairs in order. You need to pull together all of your paperwork anyway, so why not take this opportunity to get your affairs in order now? You will be glad you did.
Remember, it is not how fast you get everything done. The important thing is, you will finally be able to easily find a receipt or bank statement right when you need it.
Thank you guys for all of the support you show to me and my blog. I feel so blessed because of you.
Until next time…I remain in my Element – God Bless!
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Hugs & Blessings