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.
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 easy to find what you need, and to sit down regularly to work on your money life.
If your papers are piling up and hard to find, your journey to empowerment and control with your finances will quickly get derailed. Make friends with your money by creating a nice home for it in your life.
Next time, we’ll talk about that pesky filing system.
Go get ‘em!