ORGANIZE YOUR FINANCES

Organizing your financial information is a crucial part of every household. Unfortunately it’s one thing that most people just don’t do.

It’s time consuming. It takes a lot of thought. It’s very personal and emotional. It’s a reality check that most people don’t want to think about.

But you can’t just leave your finances to chance. Well, at least you shouldn’t. Running a household is not much different than running a business.

Having an organized system in place helps things run smoothly.

Let’s start with your space. You need to pick a place that is going to be command central. Whether you have an office in your home, a desk in a corner or the kitchen table… it doesn’t matter. Just pick a place and make that your command center.

If you don’t have a separate office space you still need to have files. You can have a file cabinet or a file drawer or a file basket….it doesn’t matter as long as you have files for all of our finances (bills, receipts, tax related information…).

You need to come up with a system and a plan that works for you. Decide what that is and stick to it. It could be that you set aside a certain day each week to pay your bills and go through your finances or an hour a week or every other week. Whatever works for you ….that you will stick with. That’s what’s important.

Some simple tips for dealing with bills:

• Go through your mail each day and put all of your bills in one spot (a basket, a folder…).
• Record the date due on the outside of the envelope when the bill arrives.
• On the day that you decide is finance day, go through your bills and pay each one.
• You can pay your bills by: Check Pay Online Automatic payments
• Record your payments (in a check register, a spreadsheet, accounting software….).
• Decide when the payments will be sent out. You can put the “mail on” date on the envelope in pencil. Put a stamp on it and mail it.
• File copies of the bill with payment info.

By coming up with a system that works for you there will be less of a chance of missing a payment and getting hit with late fees. Whatever system you decide to use, the important part is that you have a system and you stick with it.

Organizational Consulting Services

http://www.organizationalconsultingservices.com/