Where is your M-Spot?

You just know that receipt was on your dresser, but it has disappeared. The tax bill was supposed to be in the kitchen drawer but it is missing. You thought you paid the gas bill, but here it is, unpaid, under the magazines. Are your financial papers all over the place? Are bills and documents hard to find? Would you like more control over your household finances? Create a Money Spot Start creating calm around your finances by setting up one location in your house where all things money go. All financial mail, bills, receipts, paperwork and so on. Try a three-tiered tray system or three baskets. Next, set yourself up with the tools you need to look after your money life: stapler, sticky notes, stamps, paper clips, calculator, envelopes. Keep them handy at your Money Spot so you can complete your financial tasks in one sitting. Label your trays or baskets and organize your paperwork Basket One: All incoming financial information. Teach your family (and yourself) that all financial documents and requests go to the Money Spot: bills that arrive in the mail, receipts from your wallets or your cars, your child’s field trip request… anything to do with money and the family finances. Basket Two: Bills to Be Paid. Set up two file folders in this basket – Bills due to be paid during the 1st-15th and bills to be paid 16th – 31st of the month. Basket Three: All items to be filed. Place all paid bills, statements and information here. They are now ready to be filed once or twice per month. Now it is...

If you could have a conversation with your money, what would it say?

If you could have a conversation with your money, what would it say? “You take me for granted!” “You only pay attention to me when you need me.” “You act like you don’t care.”   Money talks – listen up! When was the last time you spent some time with your money? Not the 15 seconds it takes to go from your wallet to the store cash register but really spent some quality time to get to know it and give it attention? Job #2 Choose a Money Meeting Day: A great way to begin to change how you feel about and handle your money is to make a commitment to spend some time with it regularly. Schedule it into your calendar; arrange it with your spouse. Practice looking at your money when there isn’t a crisis, when things are going fine. If you only deal with your money in crisis you will tend to avoid it. Just looking at the numbers, transferring funds and having a conversation about your money life can lower fears about money and increase confidence. Instead of trying to handle finances daily, choose a specific day and time to sit down and handle all of your finances for a one or two week period. Plan to hold your money meeting on a regular basis. It could be weekly – Money Mondays, Financial Fridays, or perhaps a bi-weekly Pay Day Planning Party! If you are making money decisions with someone else, include them in the meeting. On your planned Money Day, go to your new Money Spot http://www.karencollacutt.com/create-money-spot-calm-financial-chaos/ and review what needs to be paid,...

Create a Money Spot to Calm your Financial Chaos

You just know that receipt was on your dresser, but it has disappeared.  The tax bill was supposed to be in the kitchen drawer but it is missing.  You thought you paid the gas bill, but here it is, unpaid, under the magazines. Are your financial papers all over the place? Are bills and documents hard to find? Would you like more control over your household finances? Job #1:  Create a Money Spot Start creating calm around your finances by setting up one location in your house where all things money go.  All financial mail, bills, receipts, paperwork and so on.  Try a three-tiered tray system or three baskets. Next, set yourself up with the tools you need to look after your money life:  stapler, sticky notes, stamps, paper clips, calculator, envelopes.  Keep them handy at your Money Spot so you can complete your financial tasks in one sitting. Label your trays or baskets and organize your paperwork Basket One: All incoming financial information. Teach your family (and yourself) that all financial documents and requests go to the Money Spot: bills that arrive in the mail, receipts from your wallets or your cars, your child’s field trip request… anything to do with money and the family finances. Basket Two: Bills to Be Paid. Set up two file folders in this basket – Bills due to be paid during the 1st-15th and bills to be paid 16th – 31st of the month. Basket Three: All items to be filed. Place all paid bills, statements and information here.  They are now ready to be filed once or twice per month. Now...