Financial Management Tip Day 1: Get your finances organized in order to save money
If I asked you right now, could you find your last power bill or a copy of your latest credit card statement? When is the last time you ordered a copy of your credit report?
Despite living in a world where so much of our lives is automated and can be done on the computer, we all still deal with paperwork and mail. It’s time to get organized.
If you still get paper copies of your bills and statements you need to organize this information in one central location.
Although, many bills and statements are accessible online- keep track of how much is due and when. Make sure you don’t just read an email copy or reminder and forget to actually deal with it.
So I guess the challenge has 3 steps to start:
1. Gather all paperwork (decide what can be tossed or what needs to be kept). Sort it into like piles
2. Buy or use previously bought supplies -file folders, a filing box or cabinet, a fire safe for important documents, labels, just to name a few. This doesn’t have to be expensive.
3. Set up a bill payment calendar or spreadsheet so that you never make another late payment, miss paying a bill, or bounce a payment due to poor planning.