Organizing Your Financial Life

Have you ever received a gift card for your birthday and misplaced it? Maybe you put savings bonds that your child received for special occasions in such a great hiding place that now you cannot find them. These are treasures lost in piles of clutter; things of value hiding in your space that maybe you will never find or have long since forgotten about. Have you ever really sat down and gone through your credit card statements to notice there may be charges on there that you are unaware of?

We find ourselves so busy that staying financially organized can take a back seat. Staying organized can lead to a healthy and more financially sound life style. Here are some tips:

1) Keep your financial records in shape – have a good bookkeeping system for paying your bills. If you notice you are paying a lot in late fees, setup an automatic payment plan or set electronic calendar reminders with upcoming bill due dates. Reconcile your bank statements monthly; banks can make mistakes.
2) Review your credit card statements monthly – you may notice some unknown charges that you should dispute. Maybe you forgot about signing up for some membership site that is charging you a monthly fee that you do not use anymore. Being aware of what is being charged on your statements will help you from loosing money.
3) Check your insurance policies – make sure that your auto insurance policy is covering the correct number of cars, your life insurance policies are adequate, and your homeowner’s policy adequately covers you in the event of a loss.
4) Stay organized with all your important papers – There are some great family paper organizers available and one I can suggest is from
Their “Life.doc” binder will help you to keep important documents such as birth certificates; medical information; insurance policies; financial information for bank accounts or maybe even safe deposit boxes; copies of wills; to everyday information that might be helpful to your caregiver in one central location.

5) Check your Credit Score – be cognizant of where your credit score is and be aware of any disputes or issues that are causing you a problem.

Being organized can bolster self-confidence and provide you a good sense of knowing your important paperwork is safe.

Keeping your family informed of this organizer, will be helpful to them if an unforeseen accident should happen to you.

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