A quick start guide to help organize your finances and stay on track all year long.
The new year is here, and for many of us, that means it is time to organize our finances. Whether you made a resolution to save more and spend less, want to make things easier at tax time, or are simply trying to get a better handle on where your money goes, this is the time to get a system in place that will keep you organized all year long.
Ready to get started? Here's what you need to organize your finances so you can keep track of everything and better meet your money goals.
This post contains affiliate links. See my Disclosure Policy for details.
Organize Your Finances with These Easy Tips
Start a budget
Creating a budget can not only help you accomplish your financial goals but also help you keep track of how much money you should be spending and saving. A budget will tell you where your money should be going, and whether or not you are on track throughout the month. If you’ve never made a budget before, start by evaluating your spending over the last three months, and put together an outline. Next, tweak these categories to reflect your financial goals. For example, if you want to save money for retirement, consider cutting costs in other areas to meet your goal.
Create a file system for incoming mail
Keeping track of your bills is key. Whether you pay paper bills or online, you need a system for all that incoming mail. This will help make sure you don’t miss any bills or deadlines.I would recommend a two file system (this works for paper files or email folders). Have two folders readily available to sort your mail and label them as follows: To File and Action. Everything goes into one of these places or the recycle bin.
Then, when you finish something in the action section, determine whether or not you need to keep it. If you do, place it in the File folder. Then, once a week, empty your "To File" folder into the proper storage spot (keep reading for that!).
Want a super simple way to make your own file system? Check out our DIY wall organizer here.
Create a storage plan
This should be where all the items in your "To File" folder go. I like to break it up into two sections: monthly and long-term. Create a folder for each month and place the items from your "To File" into the appropriate month. At the end of the year, you can move what you need to long term storage. Long-term might include things like tax information from previous years, mortgage information, etc.Track your spending
It’s not enough to make a budget; you need to stick to it. To make sure you are on top of your spending, find a way to track where your money is going. You can use an online budgeting app such as Personal Capital or Mint. Or, if you're a pen and paper person like me, I have you covered with a free printable spending tracker.This simple planner page gives you an easy to follow checklist to track where your money is going. Simply write in what you spend each day to keep tabs on your expenses. There's also a check mark column to help you reconcile debit purchases or checks as they clear your account.
To download your free spending tracking, just click the button below.
FREE
You also need a method for storing receipts. Create a drop off bin near the front door for all receipts, use a pocket in your DIY wall organizer, or scan them to save on your computer. Be sure to go through them nightly to update your spending tracker or budget app.
These steps will get your started on the path to having your finances under control, and keep yourself from getting behind. You may even save some money along the way!
Organize Your Life with a Printable Planner
>
The 2018 Planner includes over 20 pages of planning tools that will keep you organized:
- 2018 Year at a Glance and Important Dates
- Dream Big Year at a Glance
- 2018 Goals Page
- Dated Monthly Calendar (January - December)
- Daily To Do List
- Week at a Glance
- Weekly Schedule (2 page spread)
- Weekly Meal Plan
- Grocery Shopping List
- Notes
- Front Cover
It has everything you need to get and stay organized all year long! Check it out here or click the button below to get it for $4.99.
