ORGANIZING YOUR FINANCES!!

We all have good intentions of paying our bills on time, avoiding the late fees, and saving money. When life gets in the way we need to take a deep breath, get organized, and move forward. Here a few steps that can get you back on track and confidently move forward.

A) GATHER

DOCUMENTATION

-Get copies of all of your bills. Make sure you get the ones that you receive by mail or email. Do not forget to take note of the amounts that are automated (via bank account or credit card payment)

B) ORGANIZE THE INFORMATION

-Sort them in the following categories:

FIXED - (Car Note, Mortgage/Rent, Insurance)

VARIABLE - (Water, Electric, and Gas Bills)

DEBT (Credit Cards, Dept Store cards, etc)

PERSONAL (Tithes, Cell Phone, Subscriptions, etc)

C) GET A MONTHLY CALENDAR

-Write down each bill on the corresponding due date, also mark your pay day as well. I utilize the online bill payment option at my bank to pay 95% of my month bills. Its less paper work and a functions like an online file cabinet, if a dispute occurs.

D) TO DO LIST

-For instance, a bathroom update, new tires for your vehicle, new carpet, lawn care, or special condo assessments. It would be good idea to be mindful of these expenses so that you can plan ahead.

E) CREATE A PLAN OF ACTION

-Lastly, create a plan of action by organizing your credit cards by the balance, then sort by interest rate. I usually pay off the small balances first, then move to the next and add extra monies to the larger balances when possible. Having a credit card with a paid off balance feels very empowering!

Follow these simple steps to get organized! Once your bills are organized, you are less stressed, saving time, and saving more money! Having a bill paying system in place helps keep all of your paperwork together and ultimately makes your life easier!