Finance Globe Blog

U.S. financial and economic topics from several finance writers.
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Tips and Tricks to Organize your Personal Finances


Most people do not want to organize their personal finances, but it is very important to do so. This helps you stay on top of your finances and it helps save you from disaster. It also can help your sense of well-being and provides you the information to make good financial decisions. Below are some tips and tricks to help simplify and organize your personal finances.

Put together a budget and review it at least once a month - Your income and expenses are likely to change month over month, and it is important to track and review your bills. This can help you monitor your spending and help find ways to reduce your spending in the future.

Use online financial software – There are so many online applications to help you track and monitor your personal finances. This makes the job very efficient and there is no need to do all the work yourself.

Keep bills all in one place – Make sure you keep track of your expenses and bills in one location, whether that is in your computer or in your office. This will help you stay on top of all your incoming bills.

Keep a checklist/to-do list for bills – Everyone forgets to pay a bill, but if you keep a to-do list every month, this will help you to not forget.

Consult with an expert – if your personal finances gets complicated, make sure you consult with a financial expert to make sure you are taking advantage of everything that is available to you, including tax efficient accounts.

Have multiple bank accounts – I recommend having 2 bank accounts, one for saving, and one for spending/paying bills. This helps me keep track of my savings very easily. 

Go paperless – This may not be for everyone, but I recommend moving 100% electronically. It makes things so easy to keep everything consolidated on a computer. 

Set specific goals – When you set a specific goal, you can easily track and monitor your progress towards that goal. If you write it down and track your progress, this increases the likelihood you will achieve that goal!

Overall there any many ways to help you organize and stay on top of your personal finances, but the important thing to do is put the time towards it. It will pay off in the long run, and once you put the grunt work into it, it will not require a ton of time to monitor it on a monthly basis.


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Tuesday, 14 August 2018