Organize Your Finances

 

orgfinances

 

To have an abundant life you really need to give yourself a financial check-up.  By not being responsible with money now can lead to a bleak financial future.  You can change your future by changing the way you handle money today!

 

Disorganized finances can lead to late payments, bad credit, interest charges, and diminished savings just to name a few.  Take control of your finances today.  It is a big chore, but once you get yourself organized and on the right track you’ll never regret it.

 

Just like any organizing project, breaking down the HUGE task {of budgeting your finances} into smaller pieces, it makes it easier and less daunting.  You won’t’ become so overwhelmed that you’ll want to quit.  Well, you might still want to quit, but DON’T!!

 

This week’s goal:  

 

1.  Gather all your bills and organize them in ONE spot.  

Make sure you have the space to keep it organized, or they will just end up in a basket or bag in a closet somewhere not being paid.

 

2.  Make a list of all your income and expenses.  

You can do this online or on a good ole piece of paper.  

 

Tip: Mint.com is a great online resource that can be accessed online or any mobile device.  You can also use Quicken or Excel to track your expenses.  

Don’t forget:

  • Mortgage/rent
  • Taxes
  • Insurance
  • Utilities
  • Mobile devices
  • Savings
  • House Maintenance
  • Auto & maintenance
  • Gasoline
  • Grocery/Food
  • Credit Cards
  • Personal
  • Entertainment
  • Charitable Contributions
  • and Anything that You Spend Your Money On!!

 

3.  Make a Budget showing your income and expenses

 

Tip: By using the online software, you can have all your expenses tracked in one spot, it’s easy to read, and you’ll have it all organized for tax time.

 

4. Pick one day of the week to pay bills and check over your budget.

Make any necessary changes and/or add anything you may have forgotten or had to add along the way.  Picking the same day each week takes the guess work out of when to pay bills.

 

Tip: Set up automatic bill payments to never miss a due date again!  Just make sure you keep your checking account balance sufficient to cover those payments so you don’t incur overdraft fees!

 

5. Contribute to your savings account or investment account.  

It’s never too early to start saving for your future.  Many employers match contributions.  TAKE ADVANTAGE of that, but only invest what they are matching dollar for dollar.  Also look into Roth IRA’s and other investment options.

 

6.  Still need help?  Find a trusted friend or hire a professional to get your finances in order.

Don’t be ashamed to ask for help.  There are more people in the same boat than you could imagine.  It’s not a big deal, but it can be if you don’t get yourself if financial shape today!

 

 

 

Once a Month

  • Balance your checkbook
  • Review your credit card statements
  • Make changes to your budget as needed

 

Tip: You can get a FREE credit report and credit score from creditKarma.com.  It’s totally free, no strings attached, and they offer tons of tips on how to improve your credit.

 

 

Once a Year

  • Update your budget.
  • Check over your investments and savings. Increase your giving and saving as your finances improve.
  • Get your forms and paperwork together for taxes.

 

 

 

 

Speak Your Mind

*