Organizing Your Financial Records

Filing Systems for Paper Documents

• Alphabetical Order: File your bills and documents alphabetically in folders labeled by the name of the business or under related categories (i.e. Cable, Car, Electric, Gas, Groceries, Rent…)

• Numerical Order: You can assign a number to each related document and then file them into a folder labeled with a corresponding span of numbers (001-100, 101-200…)

• Chronological Order: Create folders for each month of the year, label the month or year on them, and then place all bills/documents from that time period into the specific folder (March 2014, April 2014…)

Filing Systems for Paper Documents

Filing Systems for Paper Documents

Computer-Based Money Management Systems: Online

Banking and Mobile Apps• Many banks and financial institutions provide

online banking and mobile apps in order to make banking easier and more organized

• This allows you to see account balances, account activity, pay bills, make transfers between accounts, and get copies of checks

• Whenever you use online banking or mobile banking apps, it is always a good idea to still print out copies of your bank statements and bills you pay. You always want to have a hard copy as a back up

Computer-Based Money Management Systems: Online Banking and Mobile Apps

Computer-Based Money Management Systems: Online Banking and Mobile Apps

Computer-Based Money Management Systems: Safety Tips

• Keep hard copies of all your records• Do not give out personal or financial information

out to anyone or to any website unless you know it is secure

• Never click any links, open up emails, or send info from emails that ask you to “Update” your financial information

• Regularly update and check your computer security software

• Always read company policies before checking a box that says “Okay”, “I agree”, or “Next”

Computer-Based Money Management Systems:

Money Management Software• There are money management computer programs

that make organizing financial records, setting/maintaining financial goals, managing your money, and paying your bills very easy

• Quicken, QuickBooks, Microsoft Money• Tracks your banking activity and provides up to date

information and break downs of your finances• Uses graphs, charts, spread sheets, and data to show

you your finances broken down• Allows you to setup bill pay, instant savings, and

money transfers so you do not have to worry about due dates and overspending

IMPORTANT FACTS!

• You need to choose a system that works for you• Whatever tools and system you choose to keep

your financial records in order, you MUST use them on a REGULAR basis in order for them to be EFFECTIVE

• Set aside 30 minutes every 2 weeks or once a month to keep up with it

• It is not the most exciting thing to do, but managing your money properly will make your life easier and more enjoyable