CREATE YOUR PERSONAL FINANCE SPACE TO STREAMLINE YOUR FINANCIAL LIFE
Unless you are by nature professionally organized, the number one thing that you can do that will quickly improve your personal finances is to get organized. And the best way to do this is to create a personal finance space.
Ideally, your personal finance space will have a place for unpaid bills and receipts, your household files, pens, stamps and envelopes, and other items you`ll need to keep track of your money and investments.
Please note an old shoe box won`t work. Instead, head over to your local office-supply store (like Staples, Office Max, or Office Depot), or Wal-Mart or Target. At stores like these, you`ll find desk-high, plastic filing cabinets and six-drawer organizers on wheels. These cost less than $40.
If you can afford it, purchase one filing cabinet with two drawers, and one six-drawer organizer. If you can only afford to purchase one, purchase a configuration that gives you two drawers for your supplies (the envelopes, stamps, pens, and paper) and one filing cabinet.
You may also want to purchase a package of letter-size manila folders (they cost less than five dollars for a package of one hundred), and a package of folder hangers (also less than five dollars per package of twenty-five, and they come in nice colors).
MAKE THE MOST OUT OF YOUR PERSONAL FINANCE SPACE
Now that you`ve got your organizers, find or buy your pens, paper, stapler, staple remover, calendar, calculator, stamps, envelopes, paper, and paper clips. These and other supplies go into the six-drawer organizer, or in the top two drawers of the single organizer.
In the bottom, you`ll want to create a series of files that will ultimately hold all your paid and unpaid bills, account statements, stock purchase or sale confirmations, warranties, and any other records that seem important to keep.
The total cost for organizing your finances will be either less than a hundred dollars (if you purchase two plastic filing cabinets) or less than fifty dollars (if you purchase one). But the best part is this: Once you`ve created a space for organizing your personal finances, you`ll find it a lot easier to wander over and pay your bills, check on your stock portfolio. and take care of your money.