It’s one of those things that is always there – tickling the back of your mind – “you should organize your finances,” the voice whispers…. Come on, this doesn’t happen to you? If you are Monica Gellar with your finances and everything is insanely organized by month, bill type, due date and color – then you can probably skip this post. But if you are like any of us normal humans, you can use a bit of help when it comes to keeping your finances in order. Read on, my friend!
Organize your finances step 1: Reduce decision fatigue
Decision fatigue happens when you’ve got a million and one things to decide all the time and you get so worn out you don’t have enough emotional and/or mental energy to successfully make those decisions.
And if you’ve been avoiding organizing your finances at all, you’ve got this going on in spades. The more you ignore your financial documents the worse it can feel to start to tackle it. The key? Start by reducing what is coming in.
- If you get your bill statements in the mail, sign up for e-statements and then have them automatically sent to a special email folder (NOT your Inbasket) so that you don’t feel the weight (mental or physical) of that stack of bills piling up.
- If you get some in paper and some in email – pick one (I recommend email) and get everything that way.
- If you already get all your bills via email get that folder set up so that your inbox looks a little cleaner.
Pro tip: While you’re at it in your email, do yourself a favor and purge out all your deleted emails. Unsubscribe to things that you always automatically delete anyway and feel the stress of email decisions float away!
Organize your finances step 2: set aside specific “money time”
I only like to look at my finances as infrequently as possible. Sound odd for a personal financial coach? While it’s true that I love personal finances and helping you ladies out with a burning passion – when it comes to the day-to-day maintenance of my own stuff? Meh. I’ll dream and plan all day long but the slog of bill paying got old a long time ago.
So I only do it on certain days. Plus I’ve automated as much as I can so I have to do as little as possible!
I look at my finances the night before payday because I’ve learned that if I wait until the evening of payday I will have inevitably spent some money already and my calculations will be off. Between my husband and I we get paid weekly. So every Thursday I take just a few minutes (literally, less than 10 max) to peek at what’s coming in, how much needs to be in our accounts, transfer anything I need to and I’m done! My goal is to get the bills so even with paycheck I can automate the transfers too!
Lastly, think about a system
You know what they say, lack of system IS a system. If you are piecing things together and feeling like you constantly might be forgetting something… It’s time for a system my friend!
The key is that you have to find the RIGHT system. For me, I don’t want anything that is too restrictive. I like to decide how I spend my money – not have someone boss me around about it. I want it to be easy to access and I need it to be able to work with minimal effort. So basically, a system for a gal who doesn’t have much time or energy to put INTO a money system. The money system for lazy gals! If you are anything like me and want a system that ends up kind of running itself while you get to sit back and sip a mojito… you are going to want to get the Organize your Finances bundle because it includes ALL the things you need to really be successful and get things organized. Check it out by clicking below!