When I think about being organized, images of gorgeous Pinterest photos dance in my head. I see perfect closets, labeled pasta in the pantry, and cute gift-wrapping stations. Of course, while I pine for those glossy photos, the real place that organizing can benefit all of us the most is with our finances.
Just like your friend and you might disagree on the best way to organize shoes, there is no right way to organize your finances. Many different systems work for many different people from the old school envelope system to newer automated techniques. Regardless of which system you like to use, the important thing is that you are actually using one.
Avoid Overcharges and Late Fees
If you are organized and can make time to track your finances once a week, you can be sure to catch that restaurant that overcharged you or find out if someone stole your identity. You an also set aside a time each year to check your credit report to ensure everything is on the up and up.
Of course, the biggest way that being organized can save you money is that you will always pay your bills on time, which helps you to avoid late fees. All it takes for some credit card companies is paying a bill late one time for your interest rate to increase. You definitely don’t want to lose hard earned money to a credit card company just because you forgot to pay your bill. You also don’t want your credit score to be affected when it could have easily been avoided.
How to Get Organized
The best way to get organized if you are not already is to have a place for everything. So, you should have a small envelope or purse for all your receipts. You should have a place where you keep your credit cards. You should have a small notebook where you can write down what you spend or jot down reminders. Many other organized women have a specific place where they keep their coupons or gift cards. Also, if you love using your smart phone, research apps that can help remind you of specific due dates.
Although it may seem like a difficult change in the beginning, I promise that once you start, organizing your finances becomes a habit. It will turn into something you enjoy doing, especially once you see how much progress is being made and how much less stress you feel.