7 Ways to Organize Your Finances

7 Ways to Organize Your Finances

As always, time is moving right along. However, there is always plenty of time to get organized! We’re not just talking about getting organized from the inside out, but getting organized specifically with your finances.  Having an organized financial life makes things easier. If you need to refer to a receipt for a return, you have it. If you need clarification for your taxes, it’s easily found.

Organizing your finances is a must have for success without the stress! I’m sharing 7 ways to organize your finances and keep them that way!

Set Up Automatic Bill Pay

One way to make sure you never miss a payment is to set up automatic bill pay for all of your recurring bills and expenses.  We recommend setting it up with your bank. Primarily because most banks offer this service for free, and it’s a great way to see all of your bills (and their due dates) in one place.

You can also get a digital calendar to help you remember your dates, if you don’t want to set up automatic bill pay. Even a cute desk calendar will do the trick, as long as you remember to update it!

Create a Financial Filing System

Whether you have a filing cabinet at home, or a filing system on your computer, you need to file your finances! After this read, check out the article How to Set Up a Financial Filing System for all of our tips on creating the best financial filing system for you! If you prefer podcasts, learn how to set up a financial filing system in CGS Podcast Episode #21: Setting Up Your Own Financial Filing System!

Create a Budget

A budget is a great way to see what you have coming in and going out on a consistent basis. Having all of this useful information in one place will come in handy if you ever need to refer to it. It’s also a great way to stay organized with all of your bills and spending. Make a list of all your monthly expenses and bills, along with their due dates. Keep this list up to date and utilize it when allocating your income.

Track Your Spending

You are not in control of your finances if you can’t account for your money. The only way to truly know where your money goes each month is to track your spending. If you don’t believe us, read the article 5 Reasons to Start Tracking Your Spending.

Ensure Your Savings Comes First

If we asked you how much you save on a monthly basis, you should be able to answer quickly and without question. It’s extremely important to ensure you are contributing to your savings before anything else. The best way to do this is to have your savings automatically deducted from each paycheck and direct deposited into your savings account. The next step is not to touch it, but that’s not as easy!

Start Your Estate Planning

This is one part of people’s financial life that they usually don’t want to deal with. However, regardless of your age or the number of assets you have, it’s important to get your estate affairs in order. Does your company offer life insurance? If so, do you have your beneficiary set?

Have you decided what would happen to you in the event of an emergency? Do you have those decisions on paper? Have the basics of your estate covered and ensure the documents are in a safe place. Not sure where to start? Read Estate Planning for Millennials for some advice!

Organize Online Accounts

Teresa Mears of U.S. News & World Report nailed this one.  She shares that “we all have numerous online accounts with passwords, including online bank and brokerage accounts, shopping accounts and mileage accounts. Do you know where all your accounts are? Create a list of all your accounts, usernames and passwords, and keep it in a notebook or at a secure online password vault such as LastPass, or both.”

Related: 5 Ways to Track and Organize Your Spending

As we mentioned earlier, getting organized with your finances can do wonders for your mental state of mind and well-being! Are you pretty organized when it comes to your finances? What tips can you share with someone about getting their financial life in order? We want to hear from our readers! Leave a comment below to share your tips, tricks and questions!

The CGS Team



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