Know these four organizing tips to help you save money. These will keep you from going astray. Find out about scheduling your bills, organizing your paperwork, and more.
Understand how to get organized and save money. When you do this, you'll be able to sleep a little easier. Follow these organizing tips to help you save money.
1Schedule Your Bills
The first expenses you have to worry about each month are your household bills, like the rent or mortgage and utilities. It's all the more reason to be organized so you can manage your money to pay these on time each month. Use a calendar, planner, computer program, or online banking account to schedule when your bills need to be paid, as any delay can cost you substantial late fees and finance charges. If you set up electronic banking, make sure that you understand exactly how the system works. Some programs will not allow you to make a payment on weekends or holidays, while others may need a few days to process the payment.
Pay your taxes on time or early. Penalties and late charges are added if you don't file the proper extensions. Hire an accountant to help with your preparation, especially if you work independently. If you work alone, you may also want to consider paying your taxes quarterly so that you don't have to worry about them at the end of the year.
2Organize Your Paperwork
All of your paperwork should be organized so that you know exactly where your receipts, financial statements, and bills are filed. There's nothing worse than searching a needle in a haystack when a question arises. Every day, take a look at your desk area and think about what pieces of paper you can immediately get rid of.
It is essential to have a wastebasket by your desk and a shredder to prevent identity theft. Utilize file folders or a portable file container instead of having piles of papers on your desk or countertops. This will prevent you from losing important pieces of paperwork under a landslide of useless junk.
3Consult With A Financial Advisor
Whether you have a substantial investment portfolio or want to get started, consult with an expert who can help you reach your financial goals. By organizing your finances, you'll not only save money but make it, too! If your current investments aren't performing well, an advisor can help you move the money to better-performing funds that can earn a higher yield or give you greater dividends.
If you don't have any investments, an expert can listen to your financial goals and recommend an investment plan for achieving those goals. Even modestly starting will often bring you some annual dividends. Every little bit helps!
4Consolidate Your Debts
Get in control of your money by consolidating large debts with one loan. You can do research on which banks or credit cards will give you the lowest interest rates and combine your payments into one. This will save you money by paying fewer interest fees, but you must also limit your spending until the debts are paid off.
Ask a mortgage broker about refinancing your home or taking out a home equity loan to consolidate debts. Be in control of your money and your life by evaluating your accounts regularly and staying organized. A little bit of work each day and regularly monitoring your progress will help you reach your financial goals.
As you grow up and move out of the nest, it can be tempting to let tidiness and organization go out the window. The truth is that being messy can cost you money! Good organization is the keystone to making and saving money. If you want to do either, you'll find that you can easily make some progress by organizing your life.
Jackie Wing is an Alaska native, who enjoys snowboarding more than is probably socially acceptable. She lives in Anchorage with her two dogs Reese and Peanut, or as she likes to call them "Thing 1" and "Thing 2."