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10 Steps to a Financially Organized Life

10 Steps to a Financially Organized Life

Having a financially organized life requires some dedication and work, which is why not everyone is able to control their income versus expenses most of the time. However, if you set up steps to organize finances, you’ll find that it’s fairly easy and painless. With specific and detailed steps, you should be able to keep or get your finances back on track in no time.

Collect all your financial documents and information.

Set your account details in organized files, either on digital storage devices or physical copies. You should have a file for each of the following accounts that apply:

  • Savings
  • Retirement
  • Checking
  • Credit cards
  • Investments
  • Mortgage
  • Personal loans
  • Insurance
  • Tax details


In addition, if you don’t already have an online bank account, right now would be good time for you to open one. With an online account, you’ll find it much easier to manage and organize finances.

Create a budget.

After you have collected your personal documents, make a budget and stick to it. You should also check all daily expenses and adjust your budget based on your income in order to have sufficient money to cover your needs. Making sure all the monthly expenditures are covered is a must do in any budget plan.

Review your budget on a monthly basis.

If you have a budget that you considered is good for you, be certain to review it on a monthly basis. As such, changes might be needed if you incur new or unexpected expenses.

Check your one-time expenses.

Check all one-time expenses like healthcare policies, auto insurance, or any other service that is paid once a year. Calculate how much you need to save on a monthly basis to make your annual payment for these accounts.

Keep bills in an easily accessible location.

Organize finances by keeping any non-online bills, such as bills delivered by mail, in a safe location. Store your mailed-in bills in a place that is both easily accessible and secure for future reference.

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Set a schedule to pay bills.

Depending on your bills and the type of bank accounts that you have, set specific dates to pay your bills either on a bi-weekly or monthly basis. Check which bills you have to pay on a regular basis to choose the best days to pay bills in bulk. If possible, pay bills as soon as you receive them.

Automate payments.

Setting automatic payments is a great way to save time and organize finances, if you have sufficient funds in your bank accounts to avoid overdraft fees. Consider setting up automatic withdrawals from your bank accounts to pay for your services on a regular basis.

Record payment information.

Keep all payment information readily available by writing down all transaction numbers, checks issued, and payment amounts with dates.

Maintain all receipts.

Save all receipts for future reference for at least a year. Place them in envelopes or folders in a secure location too.

Shred documents that you don’t need.

You should get a shredder, if you don’t already own one, to remove any financial documents that you don’t need. By shredding unnecessary documents, you can easily avoid cluttering your home with stacks of useless paper.

Having a financially organized life is imperative to achieve your personal goals, be it a comfortable lifestyle or a lush retirement. Follow our 10 steps to a financially organized life to start freeing up the time you spend checking your finances and more time doing what you like to do best. Who knows? You might even be able to save hundreds if not thousands of dollars in order to make that personal dream come true! In the end it’s all in the willingness of having a plan and sticking to it.

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