GON Articles
The Value of Organizing Your Finances Organizing our home, workspace, and finances is a vital part of human well-being. It allows us to feel confident about where our life is headed; makes us feel like responsible, productive people, and enables us to make the most of our resources. When it comes to finances, failing to understand the relationship between what we owe and what we spend, can have big consequences in the long-term, which is why putting them in order is key. Filing Out Essential Paperwork If you were called upon to present financial paperwork such as tax returns, investment statements, receipts for insurance claim etc., you should be able to find what you need in less than five minutes. You will need two filing systems: a physical system (use filing folders and accessories to label different categories) and an online system, since so many documents are provided digitally these days. Dropbox is an excellent way to store, archive and share important documents. You can create all the folders you need, and share individual folders or documents, keeping the rest private. Identify Unnecessary Interest Payments Disorganization can lead you to be unaware of exactly how much you are wasting on credit card payments. Check your bank account/s online and see how much you owe on each credit card; ascertain the interest rates charged by each and if any amounts are owed, pay the cards with the highest rates first. In future, always try to make the monthly stipulated payment to avoid paying more interest, and try to pay as early as possible to improve your credit rating. It is also vital to look at alternative ways of purchasing the items you normally buy on credit. The site, Moneybanker.fi explains how people immediately use credit cards for unexpected purchases, yet personal loans often offer lower interest rates - these loans also have a fixed rate, which will guard you against unexpected interest rate rises. Make a Detailed Budget Americans spend most of their money on housing, transportation and food. Of these three categories, the easiest to trim costs on, is food. Research shows that nearly 70% of Americans waste money on eating out; meanwhile, around 32% wasted money on uneaten or expired food. The problem is often a lack of awareness regarding how much of our monthly income is actually going to these sources. For at least one full month, keep all receipts and add them up at the end of the month - your calculations will reveal that you can save hundreds every month by eating at home more often and making use of ingredients you already have, instead of allowing them to expire. Use free online financial software to help you track your expenses. Have Two Accounts if Necessary Have one account just for bills, ensuring you always have sufficient amounts for electricity, mortgage payments, etc. Your second account can be used for leisure; by keeping accounts separate, you will never unwittingly use debt money for leisure purposes. Organization is a key element of keeping track of what you spend and finding ways to reduce faulty financial decisions. Living day- to-day is fine if money is no option but when you are living on a budget, it is important to set aside enough money to meet your obligations and to save enough to responsible enjoy the most important luxuries in your life - including your holidays, hobbies and leisurely pursuits.
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The Value of Organizing Your Finances Organizing our home, workspace, and finances is a vital part of human well- being. It allows us to feel confident about where our life is headed; makes us feel like responsible, productive people, and enables us to make the most of our resources. When it comes to finances, failing to understand the relationship between what we owe and what we spend, can have big consequences in the long-term, which is why putting them in order is key. Filing Out Essential Paperwork If you were called upon to present financial paperwork such as tax returns, investment statements, receipts for insurance claim etc., you should be able to find what you need in less than five minutes. You will need two filing systems: a physical system (use filing folders and accessories to label different categories) and an online system, since so many documents are provided digitally these days. Dropbox is an excellent way to store, archive and share important documents. You can create all the folders you need, and share individual folders or documents, keeping the rest private. Identify Unnecessary Interest Payments Disorganization can lead you to be unaware of exactly how much you are wasting on credit card payments. Check your bank account/s online and see how much you owe on each credit card; ascertain the interest rates charged by each and if any amounts are owed, pay the cards with the highest rates first. In future, always try to make the monthly stipulated payment to avoid paying more interest, and try to pay as early as possible to improve your credit rating. It is also vital to look at alternative ways of purchasing the items you normally buy on credit. The site, Moneybanker.fi  explains how people immediately use credit cards for unexpected purchases, yet personal loans often offer lower interest rates - these loans also have a fixed rate, which will guard you against unexpected interest rate rises. Make a Detailed Budget Americans spend most of their money on housing, transportation and food. Of these three categories, the easiest to trim costs on, is food. Research shows that nearly 70% of Americans waste money on eating out; meanwhile, around 32% wasted money on uneaten or expired food. The problem is often a lack of awareness regarding how much of our monthly income is actually going to these sources. For at least one full month, keep all receipts and add them up at the end of the month - your calculations will reveal that you can save hundreds every month by eating at home more often and making use of ingredients you already have, instead of allowing them to expire. Use free online financial software to help you track your expenses. Have Two Accounts if Necessary Have one account just for bills, ensuring you always have sufficient amounts for electricity, mortgage payments, etc. Your second account can be used for leisure; by keeping accounts separate, you will never unwittingly use debt money for leisure purposes. Organization is a key element of keeping track of what you spend and finding ways to reduce faulty financial decisions. Living day-to-day is fine if money is no option but when you are living on a budget, it is important to set aside enough money to meet your obligations and to save enough to responsible enjoy the most important luxuries in your life - including your holidays, hobbies and leisurely pursuits.
Copyright 1998 - 2018 Get Organized Now!™ 611 Arlington Way, Watertown, WI 53094
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