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Ways to Organize

Can you find your last electric bill? Do you know when your next car insurance payment is due?

As you think about your finances over the last year were their any extra charges that you had to pay because your forgot about a bill being due? Then you need to get organized.

There are many different systems that are possible when organizing your finances. Whether a particular system is the right one for you depends your temperament and your situation. Your challenge is to find a system that will work for you.

Some systems that you might want to try include the following. Remember that once you puts a system in place, you still have to “use it.” Make changes so that it works for you.

Envelope System

Calendar System

Checkbook System

Ledger System

Home Computer Software Packages

Handling Petty Cash (and Small Miscellaneous Expenses)

Every system for managing money, no matter how simple, involves at least some recordkeeping. To know where you money goes, you need to keep some written records. The trick is in deciding what you need to know and then to keep track of just that information.

Keep your system simple, as simple as possible or you won't use it. Try rounding off your figures to the nearest dollar. Don't record the cents. This will work if you set your "break point" and then stick to it. For example if you choose to round to the nearest dollar, you may decide that 49 cents and less will be dropped, but 50 cents and above will be rounded to the next dollar. You can decide if you need to keep track of the pennies or not. Some people even round to the nearest $5 or $10.

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