How Lists Can Help Organize Your Finances
You already know how I feel about lists and how much they can do for you. But here’s yet another example. Lists can help put more money in your pocket!
I’m the one who deals with the finances in our house– mostly because I’m a control freak. But I could always use a tip or two for being more organized with our money. So I asked Scott Gamm who is a total finance whiz kid…he’s also the founder of HelpSaveMyDollars.com. He’s been on national TV and has been published on many websites. And even better — he’s a list maker!
How Lists Can Help Organized Your Finances
by Scott Gamm
You probably make to-do lists at work, for the grocery store and when you have tons of errands to run. It’s not typical to make a financial to-do list, but it is one of the most important lists. Managing your money requires skill, care and time, all of which are no problem for a good accounting firm. There are many moving parts and components of your personal finances from credit cards to bank accounts to bills and mortgages. If you’re feeling overwhelmed when it comes to your finances, make a list! It’s a good idea to do some research when looking for an accounting firm.
Here are some suggestions on what should be on your financial list:
1. Pay the Bills: Thirty-five percent of your credit score is based on whether or not you pay your bills on time. It is critical that you pay the bill as it arrives in the mail, instead of letting it sit in a drawer unnoticed. On your list, include all your monthly bills along with the due date and amount (mortgage/rent, car payment, utilities, cable TV/internet/phone, insurance, gasoline, groceries, etc.). Check out this article which explains all of the details of your credit score.
2. Credit Cards: You must keep track of your credit cards. You should know how much debt (if any) you have on the card at all times. Also, you need to be aware of the interest rate on your card. Call your credit card company every month and see if they can lower the interest rate.
3. Insurance: Did you know that car insurance rates are constantly fluctuating? It’s a wise idea to spend 20 minutes each month researching car insurance rates online to see how much car insurance do i need? If you see a lower price, consider switching your insurance to save money. However, be sure to research the insurance company and stay with a reputable, well-known insurance provider.
4. Automate Your Savings: Make sure a certain amount of money is transferred from your checking account into your savings account automatically each month. This will force you to make do with less, while effortlessly building your savings. Use this free Expense Calculator to help determine how much money you save each month.
Scott Gamm is the founder of the personal finance website HelpSaveMyDollars.com. He has appeared on NBC’s TODAY, MSNBC, ABC News and CBS. Follow Scott on Facebook and Twitter.
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I use Quicken to track our finances. We just got in the habit of entering our receipts as soon as we get home with them. Since I usually run Linux, we have the Quicken on her desktop that runs all the time, so it’s sort of like our financial kiosk.
Hi Carson – thanks for your comment! I haven’t used Quicken but from what I hear it’s pretty easy to manage. I will have to check it out. Thanks for the suggestion.
Thank you for a great list of tips! It’s nice to know keeping your finances in check doesn’t have to be difficult. I’ve been doing the automatic transfer of money from checking to savings for several years. I never “miss” that money because since it’s automatically set up to transfer, I don’t think much about it in the first place. Now, I need to start shopping around for auto insurance rates…
Having the automatic transfer is so smart — it’s tricking yourself..in a good way! haha Glad the tips help!
All good tips! Thanks Scott : ))