Keeping Good Records is Important to Your Financial Well-Being

 by: Michael Saunders

In order to save money, budget for the unknown, and keep from going into debit, you'll have a very difficult time knowing what to estimate for these expenses if you don't keep good records. Record-keeping may be one of duller ways to spend a rainy Saturday, but it really pays big dividends when you need quick access to important financial information.

Personally speaking, I'm pleased to be able to say that I can find the receipt for any purchase - no matter how small - for the last year and bigger ones for much longer. This practice may not be the most of fun of activities, but I am organized. Having a good system that works for you for keeping records such as policies, receipts, and such can save time, money, and frustration.

How can you accomplish this feat? I'll tell you: Any way you want. A number of perfectly good record-keeping methods and products are available, so pick one you like - or choose parts of various ones and put them together. Here are a few guidelines to offer:

1. Keep all your stuff in the same place or general area, such as a desk, cabinet, or closet.

2. Have some way of breaking down the information by subject: bank statements separate from investment statements, credit card statements separate from utility bills, and so on.  (continued...)
Keeping Good Records is Important to Your Financial Well-Being
  Page 2

About The Author

Michael Saunders has an MBA from the Stanford Graduate School of Business. He edits a site on Credit Repair and Debt Consolidation and is president of Information Organizers, LLC.

Link Group Ltd., a rent and sale home provider, has been named 'Scottish Social Enterprise of the Year’ in the 2013 Social Enterprise Scotland awards.

Not for Profit Jobs in Nebraska

  Executive Director Jobs
  Substance Abuse Jobs
  Program Director Jobs
  Executive Director Jobs
  Social Services Jobs

Federal Government Grant and Assistance Programs

Edited by: Michael Saunders

© 2008-2024 Copyright Michael Saunders