Digitizing Your Personal Finance Life

Kimberly Watson, Editor in Chief
April 23, 2012 /

A greater awareness is now required, regarding the organizing of paper filing systems, such as digitizing personal finance. This is supported by the revelation that last year the citizens of America spent an average of 22 hours on the completion of their tax forms. It asks the question of how organized you are in 2012, relative to the volume of receipts and financial statements!

Another aspect of the paperwork trail is that according to Brother International, an average of 30 minutes each week is devoted by workers to seeking various items of paper. It therefore becomes apparent, that a poorly organized system, or no system, is not only time-consuming, but also costly and relatively stressful.

Receipt trackers are a great help for business and digitizing personal finances applications. Two names that have been termed effective methods are interestingly named “Shoeboxed” and “Lemon”. Both systems scan receipts, digitize them, save, and place them in categories, with resultant savings in costs for paper and toner. Add to this, that you are able to insert greater detail and the system is in sync with all your devices, including an online account. Receipts are exported instantaneously.

This is a type of portable wand, which scans your documents, digitizing personal finance for you. Tax records, expense reports, are identified by the software, which then extracts the information, automatically. You have the capacity for keyword searching, to find exactly what you are seeking, when it is needed.

Digitizing personal finance provides benefit for an average household with the popular “Mint” or “Manilla” methods of tracking, budgeting and financial overviews. Various reports show that these online bill management systems are comprehensively efficient and user friendly.

Research shows that the average American household is associated with more than 18 loyalty programs. Digitizing personal finance with applications, such as “CardStar” and “Keyring”, are a convenient means of storing functional, digital versions of your cards.

 

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