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 business credit card bill, but here it is, unpaid, under six client files.
Your financial papers are all over the place
Your personal and business paperwork are mixed up together
You spend 30 min searching for stuff before you can sit down to work on your money
Create Money Central
Start creating calm around your finances by setting up one location into which all things money go. All financial mail, bills, receipts, paperwork and so on. If you have an office for your business, set this up twice – one for personal and one for business.
Use a three-tiered tray system or three baskets to separate out the items into different categories. Label your trays or baskets so it is easy to see where each item should go when it comes into your home or office.
Basket One: All incoming financial information.
Get in the habit, and teach your family that all financial documents and requests go to the Money Central. Watch for bills that arrive in the mail, receipts from your wallets or your cars, your child’s field trip request – anything to do with your money life.
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. If you have a lot of automated bills, keep a list on the front of each file folder reminding you what you have committed to and when. This saves you searching for the bill to get the information.
Place all paid bills, statements and information you want to save here. Don’t feel like you have to file every time you look at your money. Once or twice per month is fine, and if you do it regularly, you will only have 10-15 items to be filed most times you do it.
Use your system
You have everything set up. Now, sort through the paperwork that you have at hand putting it into the appropriate tray or basket.
When your papers are piling up and hard to find, it’s hard to feel in control and empowered. Money Central makes it easy to find what you need.