5 Steps to Organize Personal Finances

Adulting is hard. There’s work, paying bills, and all the other responsibilities that come along with being a productive member of society. Nothing’s more tedious and time consuming about being an adult than keeping track of your personal finances.

Some people are naturally organized. They are able to keep track of payments and other important information with no problem. However, many of us fail to maintain an organized account of our personal finances. If the latter sounds like you, we’ve compiled a list of five steps to get your personal finances organized.

Organize Your Mail
Whatever you do, don’t let your mail stack up on the counter. As soon as you bring in the mail, open it. You should carefully review your bank and credit card statements as soon as you receive them. This will help you spot costly errors, such as duplicate and unauthorized charges. 

Sort & File Your Documents
Mail and important documents can pile up fast. This is why it’s essential to have some type of filing system. If you don’t have a file cabinet, purchase an inexpensive accordion folder to keep track of all your personal documents.

If you’re more on the techy side, you can create an electronic filing system. Just remember to scan and file your mail as soon as you receive it.

Review Important Policies
It is always important to review your important policies on an annual basis. Check your home and auto insurance policies to guarantee that you have the best coverage for your needs. 
You may also want to take this time to check with your utility providers and mortgage company to make sure that you have the best rates.

Create a Bill Paying Schedule 
Nothing says “My personal finances are organized,” like paying your bills on time. To keep your bills on track, create a bill payment schedule using an app or an Excel spreadsheet. 

Use this schedule to keep track of up-and-coming payments, amounts, and due dates. If your bank provides online bill pay, take advantage of this feature and schedule payments directly from your checking account. 
​
Speak with a Professional 
Even the most organized person could benefit from speaking with a professional about their personal finances. A financial advisor can help you create a budget and better plan investments. A financial advisor can also recommend ways to help you achieve both your short and long-term goals.

If you are struggling with credit card debt, speak with a certified credit counselor.  A credit counselor can help you get a handle on your debt and offer you solutions to get your debt paid off quickly and can help save you thousands.  Call 844-872-9046 to speak with credit counselor today.