One of the biggest problems many face today is lack of financial organization.  They have no idea of how much money is coming in and going out of the home.  Month after month the process is repeated and no advancement is being made in the area of financial freedom.

Many have the goal of wanting to be financially free, but have no idea of how to make that goal a reality.  I’ve read many self-help/success type literature and much of the focus is centered around being organized.

Below are five ways that can help lead you toward your goal of freedom:

1.  Make Daily To Do Lists.   This task works very well for me.  My mother often quotes a scripture from Habakkuk that says, “Write the vision and make it plain.”.  How can you know where you are going if you don’t write it down?  At the start of each morning, I try to write a list of things that must be accomplished for that day.  I’ve found that when I don’t do this simple task, I wander through the day with no sense of direction.  Then when the day is over, I think of all the things I should have done.

2.  Track Spending Daily.  Spending aimlessly causes many problems with our finances: overdrafts, expensive fees, not enough to cover bills, stress, etc.  At the end of the day, it is a good practice to take a look at how much you have spent for the day and create a goal for the following day.  Using the envelope system can be a great practice for this step.

3.  Don’t Procrastinate.  Whenever I use my debit card, I (right then and there) deduct the purchase in my checkbook register.  I use the same practice when using my ATM card.  Many make the mistake of putting the receipt in their wallet and will do the deduction later.  Well, later almost never happens.  Slow down, take the time and do it NOW…

4.  Keep receipts. It is a great practice to keep all receipts (ATM/debit card) until the purchase clears your bank for the correct amount.  Mistakes do happen and it would be an awful experience if you don’t have the proof of your purchase amount.

5.  Keep bills in order. Have a specific place in your home for all bills to be placed when they arrive in the mail?  OR Do you receive your bills electronically?   If not, try designating a special place in your home for bills and/or  create a particular folder in your e-mail just for new bills.  Be sure to note the due dates in your calendar.   This will save you lots of quality time in the long run.

The key to the five ideas above is to practice, practice, practice.  Make simple changes daily that create positive results.  At the end of the day, you will be proud of yourself and will be more enthused to continue with the process.  Good luck!

What are your favorite strategies for keeping up with your finances? 

Tagged as: money, organization