52 Simple Ways to Manage Your Money – 44. Easy Writer – Recordkeeping
What it is…
Answers the need to record important information and gives you the ability to locate that material quickly, as needed.
How it helps…
You can avoid the “tax time blues” if you have relevant information easily available.
You have greater control over your business matters when you can see your status.
You are less likely to forget items or to overlook important details.
Key items to look for…
For your recordkeeping system, consider the end results char you want, for example:
- check writing capacity
- budgets
- receivables (monies owed to you)
- monies that you owe, when they are due, and the amounts
- investments (including date of purchase and costs)
What is your personal style? Do you want every detail in a particular order, or can you live with “fast and dirty accounting.”
Time…
One hour co set up.
Ongoing, a half an hour every month.
Keys to action…
Materials: Simple materials may be purchased from a stationery store. Or you may consider an integrated system, which combines check writing with an entry in a spreadsheet. Some of these require specially printed materials, others use generic supplies.
Use simple categories to start, such as:
- Assets cash, bank accounts, property, cars, stocks, bonds, pension plans
- Liabilities; credit cards, bills, mortgage, car payments, notes
Keep all materials in one location. This makes it easier and quicker the next time you make an entry.
SET IT UP
Decide that you are going to do better than you are doing now.
STEP ON IT
Look around at the types of recordkeeping that are available to you.
STEP ON IT +
Start with a simple plan and expand on it later.
Notice…
Your feelings about keeping clear records.
Your success or failure in the past at performing this task.
But what if …
I don’t keep it up?
- You won t have the information you need at your fingertips, especially at tax time.
- You will find it more difficult to take control of your finances and reach your goals because you will not have a clear picture of your present position.
Thought primers…
The thought of keeping records makes me…
To me, being organized means…
The good thing about not knowing where to find things might be…
One of the first things I would do might be…
One of the problems with doing this might be…
Its beginning to dawn on me that…
