Re-organize Your Personal Finances

Kimberly Watson, Editor in Chief
April 20, 2012 /

No, it is not the Martians taking over our world, but something far worse! The ever spreading scourge of the paper era has taken over control of the human race. It is found in any domestic or business oriented environment, no matter its type or location. From the basic receipt from the gas station, to highly complex financial records, people are losing and using their lives in clearing and trying to keep up, with the never ending flow of generated paper documentation.

The input of paperwork is such, that if it is not attended to almost immediately, it begins stacking.  Bank statements, IRA statements, notices of demand, junk advertising and everything else that seemingly, various sources are dreaming up to send you, to make your life more difficult. If this has a familiar sound to it, then it could be an indication that it is time for you to start organizing personal finance.

A primary defense to reducing the paper onslaught is to stop it from intruding on your space initially.  Organizing personal finance includes determining exactly the form of paperwork you want to receive online; for example, bank statements, credit card and utility bills, thereby eliminating this type of paper invasion completely. If you adopt this system, then ensure you are disciplined in checking and noting the dates when payments are due.

Another paper frustration and space saver is the digitizing of your financial records. There are a variety of portable scanners available, or desk-top high speed scanners, depending on your situation.  You could enlist the services of financial advisors and accountants, who generally will scan the documentation for their clients, without charging.  Other options include the using a copy center or services provided by providers such as “ShoeBoxed” which permits direct processing.

The primary objective is the organizing of personal finance and to take control of your paper flow. If you do not want to take the digital route, then there are other various, basic systems available to you.  These include the established accordion type folders, which are labeled with the respective categories.  The divisions will depend on how defined you would like your system to be.

 

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