It’s easy to let ourselves get disorganized. After all, who isn’t busy these days? It often feels like we simply can’t afford the time it would take to get ourselves organized and so we waste time and money by doing everything on the fly.
Unfortunately, this can cost us real money. Late bills come with hefty fees and putting off investing for our future costs untold compound interest in the long run. If you’re serious about your financial future, making the time to get organized should be a top priority.
Your Bills
Make sure that you have a complete list of all of your monthly bills, including the due date. A spreadsheet will make it easy to see at a glance what you need to pay and the amount.
If your bank offers automatic bill pay, you can use it to schedule your bills to be paid without having to go through the hassle of getting it in the mail or going through each payees website. Make sure that you understand how the system works and what will happen if the due date falls on a holiday.
For those who prefer to do it the old fashioned way, use a calendar program to remind you well in advance of each bill’s due date so that you can pay it on time.
Be especially vigilant about paying insurance policies on time as any lapse in coverage can cost you dearly if the worst should happen.
Your Paperwork
It’s important to keep all your paperwork in order so that you can easily find anything that you are looking for. This is especially important if you’ll need receipts to get reimbursement or for tax purposes.
It’s just as important to toss everything that you don’t need to avoid clutter and make it easier to keep track of the things that you do need. Every day clear off your desk or tabletop and sort through to find the things that can be tossed. Be sure to shred items that have personal information on them, to reduce the risk of identity theft.
Depending on your needs, a file cabinet or accordion file will work well to keep your receipts, contracts, old bills and other important items in order. Vital items like birth certificates, passports, insurance policies should be kept in a fire safe or safety deposit box.
Investments
A good financial adviser can help you finally take the steps that you need to start saving for your retirement and other long term goals. Don’t procrastinate, even a small savings now can add big dividends in the future.
If you’ve been putting off participating in your employers 401K or other retirement account, now is the time to ask for information and make the decision on whether or not to participate. Every year you delay can mean thousands or tens of thousands less for you to live on in your retirement.
Get the Best Deal
Most of us simply stay with the same providers for our telephone service, television, insurance and so on simply because of inertia. It can be worth the time to call around and see if anyone can beat the deal that you are currently getting.
However, before you sign up, give your current company a chance to beat the competition’s offer to keep you as a customer. This way you avoid the hassle of having to change providers and get a great deal!
Photo Credit: TAK
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