Does this question ever come to mind:
"Where does all my money go???"
If so, it could be that your finances are in chaos. Here are 5 steps to help organize your financial life!
Step 1: Gather everything finance-related. This can include financial and personal papers, bills, insurance, and other financial records. Once you have all the paperwork, separate the papers into their own category: telephone bills, electric bills, rent or mortgage, health insurance, etc! This makes it easier to keep track!
Step 2: Organize your space. To organize my financial space, I used an old box! Whenever there is something financial-related, I file it into the box. You can also create file separation with cardboard pieces, or anything you can think of, be creative!
Step 3: Organize your accounts. Through online banking at your credit union, you can easily create club accounts that allow you to divide your money into certain categories. For example: Savings Account, Student Loans Fund, Vacation Fund, Expense Fund, etc. Setting up automatic transfer for your scheduled payments also makes life MUCH easier. This way, the money is automatically withdrawn from your account, and you will never be late for your payments.
Step 4: Budget. Creating a budget can help you get a handle on where you spend, and how much you spend. Stay on top of things by having an organized budget.
Step 5: Reward yourself! Just because you're financial life is organized doesn't mean it has to be restricting! Do something fun, you CAN afford it when you are financially organized.