If you have been reading this blog for any length of time, you have gathered by now that the focus is time management and productivity. There are many different ways that productivity can help you be more organized. Finances are an important part in all of our lives. I have hinted in previous posts that our finances have a significant relationship with each other. For example, we almost always have to make a time investment to make money. However, in this post I will focus more on the actual organization of your money. There are so many ways that being financially organized can save you time and a ton of frustration. Here are a few examples of the benefits of being financially organized.
Know what you actually have. You should regularly take an inventory of your finances. Know what you have on hand, in checking, in savings, in investments if any, etc. Also, take note of your debts and how they stack against what you have. Knowing your situation is always the first step and best way to improving any situation
Making and Following a Budget. I have mentioned a time budget several times and the benefits. Keeping a financial budget is just as important and requires the same skills. Knowing how much you can spend and deciding what you should spend it on will save a lot of time in making purchasing decisions.
Organized for Tax Filing. Many of us are thinking about our taxes this time of the year. If you are like me and are done already, congrats. Being financially organized as well as just regular organized will help you in this time. Knowing which documents you should have ready, and having all of your records organized in an easy way will allow you or your tax-preparer to have easy access to what you need to file.
Keep Your Wallet Physically Organized. It is helpful to keep everything in the same place. As we will probably put cash in the same spot all of the time, it is helpful to have a system for organizing credit cards, debit cards, rewards cards, and everything else that we may keep in our wallet. This will save us time from having to look for something, which will be especially appreciated by others if you are in line.
Have a clear plan. Just like making a time budget and a schedule, we need to have a detailed plan for our money. We should be organized in a way that is helpful for our future.
Working as an accountant for several years now, I have seen all kinds of financial situations. I have seen the good, bad, and ugly and in some cases all at the same time. There are so many ways to be disorganized and do it wrong. Take advantage of the opportunity to get yourself organized financially, so whether you have a little or a lot, you will know exactly what you do and don't have and can avoid the stress of not knowing. People say ignorance is bliss, but especially when it comes to finances, it is not. I may make this a mini series about money and how it does relate to our time. Thanks for reading and please let me know your thoughts.