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5 steps to organized finances

The start of a New Year is a good time to get your financial papers in order.

by Dory Devlin  |  5994 views  |  0 comments  |      Rate this now! 

4.) Collect money due you. We're always so focused on what we owe, it can be easy to forget to do the paperwork to collect money we are due. If you are enrolled in a flexible spending account through your employer, make sure you collect all of the tax-free money you squirreled away during the year to pay for medical expenses.

5.) Establish a system. Now that you've got your paperwork organized, set up a system that works for you. Go through bills immediately as they come in the door. Establish one place (not five) where the bills are immediately stored so you see them to remind you to pay them. If you're not comfortable tossing bill statements as quickly as recommended above, try this approach from Real Simple: Buy an accordion folder that includes a slot for every month and pop in the bills and credit card statements for each month once you've paid them, so they'll be in once place come tax time.

How do you consistently (that's the key) keep your finances in order throughout the year?

About the Author

Dory Devlin is the Work+Money editor on Yahoo! Shine. Check out Shine Work+Money here.

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