Organize Your Money!
By Sharman Lawson
Organization is the key to a balanced life! Organization saves you time, energy, frustration, and confusion. To be organized means to be efficient in the way separate elements are arranged into a consistent structure. In other words, everything has its place, find the place, and when you're done put it back. In all my years of counseling people in the area of personal finances, one of the biggest issues that cause money woes is the lack of organization.
When you are not organized life feels chaotic, excruciating, and out of control. You can actually feel your sanity slipping away. But like everything else in life - you need to admit that you have organization issues, and that want to change. Next, you need to make a commitment to get organized, and get your life in order. Then come up with a plan. If you're too overwhelmed to get started, have a friend or a professional help you get organized. Your life and financial future depends on it.
Organize your time - Use a calendar, palm pilot, or organizer to manage your time. Think of your time as money. When you waste your time you are throwing away money, so plan and schedule your time.
Organize your files - Start a paper filing system. Get manila folders to organize statements, bills, letters, and other important papers. If it's important it should have a place to go.
Track your money - Know exactly how much money comes in and out of your household each month and year. Whether it's regular salaries, bonuses, part-time, or business income keep track. What are you spending your hard-earned money on? Track all your outgoing expenses for 30 days by keeping receipts and writing down expenses. Put the receipts in an envelope and label it by the month. Categorize your receipts and add each category up to get a total. This will give you a good idea how you use your money each month.
Pay your bills on time - Keep all your bills in one place, separate bills by due dates, come up with 2-3 days of the month to write out and mail bills, and pay bills 4-5 days before due date.
Automate your savings/investments - Organize your time and money by having a certain amount taken out each month, and put the amount in certain savings/investment accounts. This accomplishes three things: a) eliminates time on your part, b) you don't have to see, feel, or touch the money, and b) you are being consistent in saving.
File your taxes - If your files are organized it will make it easier when tax time comes around to get your numbers together. You won't have to be scatter-brained trying to find old tax forms, pay-stubs, or documents. Every document will have a place.
Organizing your life will help grow your money. Organizing cuts down on duplicating inventory, supplies, clothes, products, food, information, and time! Do you want more money? Start getting organized!
Source: Sharman Lawson is the President of Freedom Concepts USA, a debt and financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website at http://www.freedomconceptsusa.com