by Erin Candeloro
Dealing with your finances can be stressful, but even more so if you don’t have a system in place. Paying your bills on time and living within your means are strong bases for staying on top of finances, but there is another aspect that is important for financial maintenance: organization!
Organization is my jam! It has been a total game changer for all aspects of my life, and it can be for yours, too! Here are three ways you can organize your financial records:
Track Receipts
A backup of paper receipts are common, but unnecessary. Check with your accountant before shredding anything, but generally 3-7 years is the rule for hanging onto receipts for tax purposes. As far as grocery or retail shopping receipts, you can toss them once your bank statement is in (and correct).
Keep Electronic Records
Whatever records you are hanging onto, electronic files make life so much easier! You won’t have to rummage through drawers looking for that one particular piece of paper, because it will all be in one place! Create (and backup!) a file on your computer for any tax, medical, or other records you want to have on hand.If you’re not too computer savvy, or simply feel better having physical copies, then keep all of your records in one place. An accordion file organizer is great because it has a lot of compartments, tabs, and labels for your papers. Plus, it is compact enough to keep in a drawer or on a shelf, making it easy to locate when needed.
Balance a Checkbook
Does anyone besides me keep a checkbook anymore? Well, if you don’t, please consider it! I’ve had friends make fun of me for keeping a checkbook, but guess what – I have no debt, I never overdraw from my account, and I live within my means. Just as quickly as physical clutter builds up, your money can disappear in a flash if you don’t keep track of it. I keep a physical checkbook, but an electronic spreadsheet can work just as well.
Finances can be an uncomfortable topic for many people, but they play such a large part and are important to living the life you truly desire! It’s easy to want to push it off until its absolutely necessary, but in reality that will only cause more stress for you. Taking the time to organize your finances will pay off in the long run, as it will be one less thing to worry about! And let’s be honest – we all want to live a more stress-free life!
About Erin
Erin is a home organizer, helping busy women clear the clutter from their homes and minds.
Using essentialism, she teaches you how to live a life of more with less, so you can start living the life you truly desire!
www.erincandeloro.com
Instagram: @erincandeloro