You know that financial health is the key to peace of mind. When your money is working for you, you can provide for your family and retire when you're ready. The system doesn't own you. Instead, you are in control.
However, when you look around at your financial records, you can’t help but realize they are a mess. With everything in disarray, it is impossible to put yourself in the driver’s seat. Follow some tips to get organized. Once you are organized, you will be able to see the big picture so your money can work for you.
It’s always a good idea to hang onto receipts until the money goes through your bank or your credit card company. However, life gets in the way, and you might forget to reconcile the receipts. That means you have double the paperwork that you need. Set aside a Saturday and work on reconciling your receipts. Then, you can throw away the receipts you don’t need.
You’ve reconciled your receipts, but you still have tons of paperwork. Your filing cabinets are bulging at the seams, and you feel a little overwhelmed. That means it’s time to get some online software. Enter and scan your paperwork into an online system and then throw it away. You will feel a lot less stressed once you can close your filing cabinets like normal.
You’re almost organized, but you still need to find out where all the money goes. Set up a spreadsheet or use software to track your spending and savings. Do it by the week and the month. Then, go back and analyze your patterns. You will likely find some ways to increase your savings.
You might not have your finances together right now, but all hope isn’t lost. Follow these tips to get control of your financial future, and you will be closer to gaining peace of mind.
Charles P Myrick CPA offers tax preparation for individuals using a process that combines smart, personalized planning with annual tax preparation and filing. We work closely with tax lawyers, and investment advisors to ensure that all the details are legally sound, technically accurate, and working to your maximum benefit. Contact us to learn more: (202) 789-8898