Organizing personal accounts can be a challenge. In order to keep finances up to date, it is important not to miss the payment date of the month’s accounts, as properly storing all accounts and receipts after payment. Here are some tips that will make it easier for you to organize your personal accounts:
List the accounts
The first step in organizing personal accounts is to list them. Enter all the bills you have to pay, with their description, amount and due date. Also enter a last column with the total amount to be paid to get an overview of the expenses that are already scheduled. One of the best ways to do this listing is by using a spreadsheet. So you can consult the information quite easily.
To better understand how to list and categorize expenses, make sure you know the 50-15-35 rule.
Prioritize payment of some bills
Accounts that are related to essential expenses, such as electricity, gas, and condominium, should be guaranteed. In order not to risk missing any of them because the money has become short, it is best to put your salaries right after the day you receive your salary. If you receive more than once a month, see which dates are best given how much money you have in cash.
Have a personal financial spreadsheet
The personal financial spreadsheet gathers all your personal accounts, due dates, and amounts in one place. Therefore, the tool is quite an ally to keep your financial life properly organized. It is also important to remember that in addition to having payments always on time, keeping receipts is also an important point. Use a specific folder for this purpose. So whenever you need to prove that a particular account has been paid you know where to find the voucher. Another point that also makes life easier is to keep accounts divided by category for easy access to information whenever needed.
Get rid of doubts
The organization of personal accounts also involves settling debts. It is important not to cover the sun with the sieve and pretend that financial backlogs do not exist. Put everything you owe on paper and set a deadline to pay the amounts. Expensive debts, such as credit card revolving and overdraft, should always be top priorities. With personal accounts and finances properly organized you just have to work so as not to get into debt again.
Control credit card spending
If used the wrong way, the credit card can put the organization of your personal accounts and financial life on the loose. Always opt for cash, keep track of your balance by checking it daily and don’t fall into the minimum payment trap: always pay the full bill.
Don’t forget to invest
Just as debts cannot be ignored, so is the need to invest as well. Once you have created a financial reserve that corresponds to at least three months of your salary, look for some investments. eye on the long run. There are options for all profiles: LCA, LCI, CDB, actions etc. Choose according to your goals and the amount you have to invest. If necessary, check spending that can be cut to make more money to invest in the financial security of the future.
Organizing personal accounts is essential to having a healthy financial life. How do you keep your bills up to date? Already follow any of our tips? Comment!