How To Organize Your Financial Life

Getting organized financially is especially important for financial success.

Being financially organized means never missing bills or accidentally paying something twice. Being organized also helps make tax season a lot less stressful and can help a person reach individual savings goals.

Here are eight easy ways to keep your finances organized.

Compare insurance prices

Most people could afford to upgrade to life insurance. Something young families don’t always think about. Most of the time the coverage is not optimal and the price paid is too high for the coverage received. Term life insurance can be quite affordable. Find term life insurance quotes. Generally, the younger you are, the less expensive it is. In addition to the cost, there is the peace of mind that your family will be protected if something happens to you. You should also review your other insurance needs. Some ideas include: having multiple insurance policies with the same company, increasing deductibles to lower premiums, and checking coverage limits and making sure coverage is adequate. Compare quotes across different companies to see which one may offer the best coverage deal.

Set up automatic bill pay


A good way to make sure your bills are always paid on time is to set up automatic debit payments. or credit card, using an online bill payment system. This system can be through a bank or another institution. Keep track of these automated payments in case payments need to be updated or stopped.

Save through direct deposit

The easiest money to save is the money you don’t see. Most employers allow paychecks to be deposited directly into a savings account. If the employer does not offer this, it can be set up through a bank and transferred to savings from a checking account. It’s also a good idea to set up automatic deposits into investment or retirement accounts.


Getting a loan can be a good way to pay off and consolidate any debt. There are many companies available that can do this, even if credit history is an issue. Control Credible to see what types of loans are possible with those with good to fair credit. Debt consolidation is an important step in the process to start saving money for the future..

Get organized

Some financial documents must be kept as hard copies and organized in files. Do this by creating a meaningful filing system using a filing cabinet or file box. Make sure you have a space for receipts, health insurance information, stock statements, estate planning, repair records, and housing expenses.

Expense Tracking

Always know where the money is going. This is the first step in knowing how to spend money wisely. An organized expense tracking system will make gathering information for annual tax returns much easier. Quicken or any other online solution such as Mint or Tiller or using a spreadsheet will help with the tracking task. Some programs will even download bank and credit card transactions into a spreadsheet or app. The main idea is to choose a system that is easy to follow.

Create a budget

    financial planningCreating a budget can help control spending and help ensure that you don’t spend more than you bring in. This also helps keep spending priorities at the top of the list. It helps if couples discuss household budgets and make sure they are in sync with how money is spent. There are budget apps available just for this purpose, or a good pen and paper can do the trick.

Organize accounts online

Create a list of all the numerous online accounts that are maintained. This can be anything from online brokerage and bank accounts to mileage and shopping accounts. The list should contain usernames and passwords that can be kept in a secure online password vault or notebook.

Update Documents

At the beginning of the year, it’s a good idea to make sure all financial documents are up to date and current. This could be anything from beneficiaries to a 401K account, updating wills, updating health care surrogates, and estate planning. This is a good time to also review any automatic payments that have been set up.

Create a mail station

An efficient way to handle mail is to organize it as it arrives. This could be something as simple as boxes that are labeled ‘bills to pay’ or ‘documents to file’. This system will keep invoices up to date and paid.

Credit card management

pexels-photo-462368.jpegLook for rewards programs through different credit card companies. From there, manage spending to optimize the benefits of these cards and optimize your benefits by always liquidating them immediately after making a purchase. Also check the annual fees to make sure the rewards program is worth paying for each year.

Material Connection Disclosure: Some of the links in the above post are “affiliate links”. This means that if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services that I personally use and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR Part 255: “Guidelines on the Use of Endorsements and Testimonials in Advertising.”

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