How to Organize your Finances

Organize finances in six easy steps:

  1. Reorganize your filing system. The ultimate goal is to have a paperless office. In the meantime, you want to sort it into groups as follows:
    • Assets and liabilities. Organize records as they relate to property you own, bank accounts, life insurance and other policies, investment accounts, collectibles, loans, and mortgages.
    • Bills. Organize information about vendors you pay.
    • Tax. Organize the information that you store throughout the year in a way that is easy to access and take to an accountant or use for doing taxes yourself.
  2. Reorganize your bank and credit card accounts and examine investment accounts if any, including retirement accounts. Close unnecessary and unused accounts, and consolidate wherever possible.
  3. Build a monthly and an annual budget to take control over your finances.
  4. Hire technology to automate paying bills.
  5. Provide security for your personal information by keeping your financial information in a safe place or using software that you can buy at our store for just under $10. Buying a shredder also helps destroy documents you no longer need but may show your personal information.
  6. Schedule a meeting with a financial advisor to start a savings program to help you meet your retirement, educational, and other financial goals.

Visit Make My Day CPA store for assistance with self-organization, learning how to automate any of these processes and getting discounts on software solutions. Click here if you need help but have no time to travel to the store (contact info request page).

Call us at 703.845.5900 today

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