Nancy Zimmerman of Your Money by Design shares with us some quick tips to get on top of money matters.
1. Define the purpose of your money. This may seem obvious, but you’d be surprised. If you really think about it, is your money to support your current lifestyle? To save for retirement? To reach short term goals? To give to others? A combination? What kind of combination? Getting that sorted out is the first step in organizing your money.
2. Set aside a regular time to spend with your money. We do it for eating, for exercising (well, maybe), to spend with friends, heck, we even set massive time aside to earn our money. Set aside time at least 30 minutes each week to involve yourself with your money. Check in whether your actual use of money is consistent with your purpose for it defined as above.
3. Equip yourself with tools. There are lots of ways to make organizing your finances easier. We can do better than shoe-box receipts! Businesses like “Out of Chaos” and “Art of Storage” have several suggestions for the handling paper. Software packages like Quicken, Microsoft Money or Excel can simplify keeping track of your cash flow. Online banking can automate most bill-paying tasks.
4. Celebrate. Being organized with your money will result in confidence and a sense of control. Even better, it may well lead to prosperity. Celebrate!