Get Organized
Lack of organization around your finances can actually cost you money—fees for late or missed payments, charges for an overdrawn account, and missed opportunities—not to mention the added stress. Developing a system to keep your finances organized will allow you to maintain control over your money, make informed decisions, and move you further along your path to financial stability.
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The Secret to Saving Money Through Organization
Key Ideas
- Getting organized can actually save you money.
- Research and try different systems to find the right one for you.
- Record keeping is important for you and for those who depend on you.
Activities
- Review financial records, banking, and billing statements regularly. Look for errors, mysterious charges, or unrecognized transactions.
- When following up on questions related to your bills or other money-related issues, keep a record of the name of the person you spoke to, the date of the conversation, and any information you discussed—especially any important instructions.
- Using free online bill-paying services can help you pay your bills on time. Consider setting up automatic payments (also known as autopay) for expenses that don’t vary month-to-month, such as rent or mortgage payments, insurance premiums, subscriptions, or memberships.
- Designate a time each month to review and pay bills that are not on autopay.
- Shred or recycle items that are not needed and may contain personal information.
