Now more than ever, we need to get our financial houses in order... here are eight ways to organize yourself to climb out of the hole!
1. If you have ever moved, changed banks, or just been a little disorganized with your bills, you may have unclaimed money waiting for you in old accounts. Why not start by claiming what is yours? You can search Unclaimed.org to see if you have some coming to you.
2. Plan menus once a week to save on dining out. My friend Aviva at Six O'Clock Scramble has a terrific program that gives you a customizable weekly menu and autogenerated shopping list! I love that I can choose "dairy-free" and get exactly the recipes that work for me. Yesterday I did my menu and went shopping for it and spent only about $100 for a whole week's worth of meals, including side dishes. This is great because we tend to eat out more than we should. I am also a fan of Dream Dinners, where you assemble the meals ahead of time and freeze them. That is a big money saver too.
3. Have a plan for where to put your bills as they come in and when you are exactly going to pay them. When you sort your mail, put all the bills in one spot only! And decide your bill paying method, whether it's once a week or on the 1st and 15th. Personally I like paying bills every Tuesday. I never worry! I always know whatever has come in will be dealt with on Tuesday and I can put it out of my mind.
4. Automate your bills as much as possible. You avoid late payments (which can damage your credit), reduce your stress, and save lots of time. Major banks all have a billpay option so you can schedule regular recurring payments and write checks to go out exactly when they are due. You also save on postage stamps!
5. Organize your closet, your pantry, and your wallet and/or purse. The main goal of most organizing projects is ultimately visibility... you need to be able to see what you have. If you can see that you have a bunch of green sweaters, you probably won't buy another green sweater. If you can see that you have five cans of tomato sauce, you probably won't buy any more of that either. And if your wallet is organized, you can see how much cash you have. In the process of doing all of this, you are also very likely to find helpful things like gift cards, coupons, cash, and things you thought were lost.
6. Make considered investments in small things that ultimately save you time and money. Example: home dry cleaning kits (like Dryel). You buy one and you end up saving lots of money because you don't go to the dry cleaner as often. (See also my post Save Gas & Time with 3 Simple Household Objects.)
7. Simplify your credit cards-- instead of having several cards, simplify, consolidate balances, and try to get down to just one main card and another for emergencies. While you're at it, check the interest rates you're being charged and make sure you are paying off the highest interest ones first. You will also save time not reconciling so many accounts and paying so many bills.
8. Don't let clutter in the door, and save money by not purchasing things you don't need! Download our free Clutter Prevention Wallet Reminder Sleeves, available as a bonus when you get our weekly newsletter. Click here for a 1-minute YouTube video on how they work. They store your favorite debit or credit cards and feature the five questions you should ask before purchasing anything!
What are your favorite ways to organize yourself to a bigger pocketbook? Share in the comments!
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Track spending by keeping a log of **every penny you spend** for a week or a month. You'll find out "where the money goes" with this method!
Posted by: Melissa | February 26, 2009 at 05:30 PM
When balancing your checkbook, always round up on the cents (i.e. if a bill was $36.32 make it $37 dollars even). Not only will there always be a few extra dollars extra in your checking account, but it makes the math easier!
Posted by: Anne | February 26, 2009 at 06:00 PM
Home dry cleaning kits don't really work any better than spritzing your clothes with vodka and tumbling in the dryer on low.
In fact both methods may set stains and then you have a ruined garment. Choosing what needs to go the the dry cleaner will save you money over the long run because your clothes will last longer.
Never subject a garment with stains to the heat of a clothes dryer.
www.CameoCleaners.com
Posted by: Jerry Pozniak | February 26, 2009 at 07:46 PM