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5 Ways to Organise Your Finances 

JUNE 2019

If you haven't balanced your bank accounts in a while, lose your incoming bills before they're paid or put off filing your tax returns because it's just too difficult to get everything together, then it's probably time to organise your finances.

Here are 5 quick ideas:

1. Consolidate Your Credit Cards
 Rather than having a bunch of different credit cards, consolidate all of your expenses on one single credit card, preferably one that has a low interest rate, and perhaps one that offers bonus points or airline mileage on every dollar you spend. This can result in less confusion over which card to use, it can give you a better idea of how much debt you're accumulating, it may give you more back for your dollar, and you'll only have one credit card payment per month.

2. Use the Cheapskates Bill Paying System 
As soon as you get bills in the mail, they should immediately be placed into a bill paying system. All of your pending bills are then ready to be paid once a week, or once every 2 weeks, etc. Use that same bill paying system to store paid bill summaries, being sure that each category is in its own folder or envelope. Doing this makes it very simple to look something up when necessary.

3. Organise Your Expenses as You Spend
Want to know how much you spend each month, so you can determine your monthly spending budget? As you spend, just record that expense. This can be called your Expense Summary. A computer program like Quicken is great for this purpose, or you can certainly do this with paper and pen and a small spiral notebook.

4. Balance Your Bank Accounts Monthly
In order for you to have a good idea of how much money is sitting in your bank accounts, what bills have cleared, and any errors that you, or your bank, may have made, you must balance your bank accounts. It really doesn't take that long, if you balance your accounts the same day your statement arrives from the bank, each month. 

5. Keep Your Tax Related Stuff Together
Right before tax season, you'll start to receive tax related information from your job, your bank, etc. Keep all of these tax-related papers in a labelled file folder. This way, when you're ready to do your taxes, you won't have to search for the papers you need.
Related Printables
Bill Paying System
Simple Monthly Spending Plan
Slash Expenses Worksheet

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  • Home
  • Join the Club!
    • Twenty Reasons to Join the Cheapskates Club
  • About Us
    • Cath's Story
    • Ask Cath
    • Glossary of Cheapskating Terms
  • Forum
    • Current Forum Discussions
    • How to Use the Member Forum
  • Inspiration
    • Getting Started
    • 31 Days of MOO Index
    • Articles
    • Housekeeping Routines
    • Budget Renovations
    • Saving Stories
    • Learning Centre
  • Recipes
    • Recipe File Index
    • Meal Plans
    • Add a Recipe
    • $300 a Month Food Challenge >
      • $300 a Month Food Challenge
      • The $300 a Month Food Challenge Forum
  • Newsletters
    • Newsletters 2023
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    • Newsletters 2021
    • Newsletters 2020
    • Newsletters 2019
    • Newsletters 2018
    • Newsletters 2017
  • Saving Money
    • Latest Tips 2023
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    • Cheapskates Tip Store
    • Tip Sheets
    • Top Tip Competition
  • Contact
    • Changing Details
    • Help Files