Tips for Organizing Your Finances and Paying Bills
Watch the video below and follow the instructions. There are tips for the people who manage their affairs manually and for those who do so electronically. They are simple and straightforward but very effective. However, I do not recommend that you cancel any credit card as mentioned in Tip 6 in the video. If you cancel/close credit card accounts it will affect your credit rating negatively. I will discuss more on this when I address the topics of credit, credit score and credit rating.
In order for anyone to become financially fit they must organize their finances. This includes having a method to file important documents and to take care of their bills in a responsible manner. This is one of the early steps in this process and is an important part as you plan to manage your finances efficiently.
Regarding how long you should keep your bills: For individuals, you should keep your regular bills such as credit cards, utilities and travel expenses for 3 years. Businesses would keep their operating expense bills for at least 10 years. For important bills/documents such as for insurances, loans, and real property you should keep the bills/documents for up to 3 years after the insurance expires or the loan is paid or the real property is sold.
Going paperless and automating your finances should be seriously considered. The benefits are far more greater than your concerns for security. Mint.com is the best free option to help you track and manage your finances. Wunderlist or Trello are excellent free tools to help you monitor your goals and to do lists.
If you think that your documents and bills are in order; and you can locate any item within two minutes; still watch the video because you may pick up some pointers. Then, you should move on to your next Assignment or Task. All the best!
Regarding how long you should keep your bills: For individuals, you should keep your regular bills such as credit cards, utilities and travel expenses for 3 years. Businesses would keep their operating expense bills for at least 10 years. For important bills/documents such as for insurances, loans, and real property you should keep the bills/documents for up to 3 years after the insurance expires or the loan is paid or the real property is sold.
Going paperless and automating your finances should be seriously considered. The benefits are far more greater than your concerns for security. Mint.com is the best free option to help you track and manage your finances. Wunderlist or Trello are excellent free tools to help you monitor your goals and to do lists.
If you think that your documents and bills are in order; and you can locate any item within two minutes; still watch the video because you may pick up some pointers. Then, you should move on to your next Assignment or Task. All the best!
