This is part 1 of a three part series that falls more into the organizing your life for the future, not really the usual organizing the physical. But it’s something that I’m very passionate about and want to make all of you guys aware of the importance of being prepared.
Talking about finances is never a great subject, especially when it feels like no matter what you do, you’re always in the same place. No matter how many raises you get, the debt doesn’t decrease and the savings never increases. Student loans seem insurmountable.
There are so many different tips, tricks, techniques, hacks that claim to help. It can be absolutely overwhelming when you look at the THOUSANDS of posts and pins that describe what you can do to solve it. But…just like organizing your house, getting your finances in order is the same way: it needs to be personalized to what works for you and your family. So I can’t offer the best financial organizing tip to everyone out there. What is perfect for me may be the worst idea for you!
For me, I’ve found that I am not enough of an adult to use a credit card correctly. I loved getting the cash back and the points adding up. But it didn’t work for me. I’ve found that I tend to ignore how much money I’m spending when I don’t see it disappear every day. I struggled with it for years. It works for my husband, my mom, and potentially for you, but not for me. I need to see exactly where I stand. I get daily emails at 4:30 am from my bank, showing what exactly went into and out of my account the day before. On Mondays, when all of the weekend stuff pops in, I know exactly how much I have left for the remainder of the week until Friday’s payday.
Side note: I originally typed the sentence above as “how much I have left to spend for the remainder of the week, “showing a perfect example of how NOT to think about money. Which leads me to my final thought on the subject:
The best thing I’ve found for me is to pay yourself first. I get paid every other Friday and I set up automatic transfers of money that day from my checking to my savings accounts, the kid’s savings account, and college funds on those days. My retirement funds are automatic from my paycheck. If I were really good, I would set it up so I can’t access my savings account so easily on my bank app. But I’m not that good. Maybe one day.
This falls more into the ‘organizing your life for the future’ category than the usual organizing the physical objects here now. But it’s something that I’m very passionate about and want to make all of you guys aware of the importance of being prepared.