5 Best Ways to Organize Your Finances

/0 Comments/in , /by

5 best ways to organize your finances

 

If your budget is tight and you want to know more about your spending habits, you are in good company. With digital purchases, subscriptions and instagram shopping, it’s not easy to track where you are spending. For people with ADHD, financial organizing can feel scary.  Some simple systems can help you organize your finances to be more intentional about where your money is going.

Use budgeting and money management apps

There are outstanding apps to help you learn more. Budgeting apps like YNAB (You Need A Budget), Monarch, or Quicken can automatically sync with your bank and credit cards to track where your money goes. They let you categorize purchases (like groceries, entertainment, or gas) and set limits for each. You will learn where you are spending the most and prioritize as a result. The best part is these are automated and make the process easy.

Create a digital shopping list 

Impulse spending, emotional purchases and over purchasing are budget killers. The best way to put a halt to this is with a running shopping list on a shared google sheets, your phone or a notes app. List your monthly subscriptions and evaluate the recurring time frame. As you “prep” for just in case before the hurricane season, review your items monthly and rotate your stock quarterly.

There are many strategies to pause purchases with a digital shopping list. You can divide the list into “Needs” and “Wants” to help you stay intentional and avoid buying things you don’t really need. You can add items to your Wish List to keep for later. This helps you avoid duplicate purchases and buyer’s remorse.

 

Use your power with Amazon

Amazon purchases can really pile up fast, especially with subscriptions, gifts, and those “just one more thing” buys. There are practical ways to organize and analyze your Amazon purchases so you stay on top of your spending and get the most out of every dollar:

Amazon actually lets you download a spreadsheet of your entire order history. Here’s how:

  • Go to Accounts & Lists > Your Account

  • Click “Order History Reports”

  • Choose the report type (items, refunds, returns, etc.)

  • Select a date range

  • Download as a CSV file

You can open this in Excel or Google Sheets to sort, categorize, and total your purchases. Match this with your credit card statement to be sure you are being charged properly. Save money with Amazon returns with a designated weekly errand run for returns. This is especially helpful for a business and also at tax time!

Set up automatic reminders for recurring purchases and subscriptions. 

Forgotten subscriptions and entertainment purchases can add extra expenses. Use your phone calendar, app alerts, or email reminders to remind you about recurring payment and the costs, such as streaming services, memberships, or auto-refills. Make a list of these costs to evaluate the ongoing need for each. This gives you time to cancel or adjust them before you’re charged.

Set a monthly review of your and your family purchases with your partner

Families spend less when they each know what they are spending. Once a month, set aside 30 minutes to review your spending. You can use Google sheets or create reports from your apps to know where you are spending each month. Set up a comparison to look month to month. Look at what categories are over or under budget. Together, ask yourselves:

  • Did I buy what I actually needed?

  • What can I cut back next month?

  • Is there a pattern in my spending?

Our family also has created Standard Operating Procedures for purchases. If a purchase is over $100 (which almost any purchase is) we confer on whether to purchase. This is not about being giving permission to purchase but rather a conversation about our overall purchasing strategy.

 

If you have felt the pinch of how expensive everything is, it is time to choose a system that will help you track how you are spending your money. Financial organizing in 2025 doesn’t have to be complicated. With the right tools, a few good habits, and a mindset of intentional spending, you can feel confident and in control about every dollar you spend.

ADHD Bill Paying Solutions

/2 Comments/in , /by

 

bill paying

 

 

No matter how much money is in your bank account, for people with ADHD can be a a struggle to pay your bills.  Timelines, anxiety, math phobia, and paperwork challenges all add up to ADHD bill-paying problems.  Financial documents are a nightmare because of the details, multiple steps, and lack of consistency.  Not to mention those awful accruing late fees! It is likely best to have an understanding of each strategy to bill pay and how these can help you.

 

Pay by mail and set up a bill-paying center

  • Gather together your bills, a pencil, calculator, stamps, envelopes, checks, and manilla envelopes.
  • Open the envelopes of all the bills and mark the date due on each.
  • Divide the bills to pay according to the date due and the income in your checkbook.
  • Pay your bills either every day or 7 days ahead of due date.
  • This option is best if you feel less comfortable with technology.

Pay with online bill paying

  • Set up online bill pay using your bank’s services.  You will need one bill from each utility, including your account number.
  • Open your bills each day and write the due date on the envelope.
  • Check your balance weekly.
  • Pay your bills daily and set the due date for payment according to your balance and income.
  • This option is best if you want to create automatic bill paying.

 

Pay by phone.

  • Gather your bills and statements for paying by phone.
  • You will need your account number, bank routing number, and bank account.
  • Call the payment number and give the information requested.
  • This option is best for last-minute bill paying.

 

Money Management Binder

  • Set up your binder with tabbed slash pockets. Label the pockets: To be paid, January, February, March, etc.
  • Use this Monthly Bill Manager to list your bills and how you paid.

 

Bill Manager List

  • Place all bills in the binder as they arrive.
  • Write checks and pay online once a week. Call the day Money Monday or Financial Friday.  Set a reminder or put post-it notes to help you stay on top of your weekly commitment.
  • Keep the binder in the same place all the time so you can drop in bills and keep up with your weekly payments.

 

Auto debits and other automatic payments

There are likely payments that happen automatically from your account.  Make a list of these payments and the amounts taken out monthly. It creates a visual reminder for you and keeps you on track with your money.

Big Bills to Pay

Even with a great system, big surprises happen.  Make a list of the big bills you pay at different times during the year.  Payments for property tax, insurance, and estimated tax payments occur at random times throughout the year.  Go back through last year’s checkbook and create a list of these expenses.  Add these to your recurring reminders. Set aside money each month for these large payments.

 

Check your subscription services

Many times we have subscription services that drain accounts. These are services and products we may wish to discontinue. Create a log of these by reviewing your checking account, iPhone wallet, Amazon subscriptions and credit card accounts. Make a list of these monthly fees and be sure you are using these services wisely.

 

Routines for bill paying make the difference

No matter your method, bill paying happens when you have a set time of the month or a set routine to accomplish this task. Choose when it is best for you to sit down, focus, and follow through on this task depending on the income to your accounts. If you can, choose a once-a-week time to pay bills completely. You will be much wiser in knowing what is due and when it is due. You have a heads-up about incoming, large bills. Creating a routine that aligns with your paycheck eliminates stress.

 

 

 

 

How to Break the Cycle of Overpurchasing

/4 Comments/in , /by

How to break the cycle of overpurchasing

 

The holidays are quickly approaching. With little time and a lot going on, it is easy to purchase items “just in case.” Or, it might be  special something catches your eye when it is advertised on Instagram. Overpurchasing can lead to clutter, financial strain, and unnecessary stress. It’s become common because of the speed of life.  Here’s how to break the cycle of over-purchasing and freshen up your resolve to your financial goals.

 

Understanding Overpurchasing

On the surface, overpurchasing seems to be an easy solution when you have so little time and many things to do. Overpurchasing happens when you need a solution, but don’t know all the details like how many items are required or you want to get ahead for an activity so you are ready for a project. However, there are deeper reasons why overpurchasing happens. Overshopping can often be an emotional response to stress, boredom, or unhappiness.  A new purchase might seem to make you happy at that time. There is also the lure of a good deal. Sales and discounts create a sense of urgency and fear of missing out. These feelings can be a reason behind additional purchases.

 

Strategies for Breaking the Cycle

  • Start with a list. Like your grocery list, items on a list are an intentional purchase based on a need in your home. This routine will help you be intentional about your needs, as opposed to an impulsive purchase.
  • Create a routine for returns. When a purchase is unnecessary or an over purchase occurs, you can rectify this situation with a quick return. With so many online purchases, set a day once a week to make returns.
  • Organize and take inventory of what you own. Over-purchasing happens when you can’t find what you need quickly. Inventory categories where quick purchases happen. Make it easy to find what you need and put away items after use.
  • Set a budget for discretionary spending and stick to it. Track your expenses to stay accountable. Taking the extra step of tracking increases your awareness of impulsive purchases.
  • Track your purchases monthly and review where you are spending. Use online tools to help you find extra subscriptions that you do not want or need.
  • Choose new experiences to help you enjoy time outside. Choose walking, hiking, or biking to enjoy time in green space instead of online. You will also sleep better as well.
  • Practice gratitude for what you have to shift from what you lack to what you have. This reduces your desire to acquire.

 

Overpurchasing situations occur less often when you are mindful of your routines and when you take time for your Weekly Planning. Your knowledge about your purchases gives you data to use your resources wisely according to your financial goals. Try out these new strategies to prevent stress by being proactive.

 

Organizing Your Finances: Practical Financial Strategies for People with ADHD

/4 Comments/in , /by

organizing your finances practical solutions

 

Throughout this month we have focused on money management. Today we are focusing on the practical, simple, and effective quick tools for managing finances without being overwhelmed.  If you are just beginning your finance and money management journey or in the middle of it, here are some ADHD – friendly simple tools and tips that will help you meet your financial goals. Choose one strategy to help you move forward with your goals.

Use automation and technology

There are many easy tools to set up for your income, expenses, and budgeting.  Take time to set these up and review them monthly. Using automation and technology frees up your time and sets in motion your plans. One of the most important steps is to pay yourself first with an automated savings account.

  • Automatic Payments: Set up automatic payments for bills to avoid missing due dates.
  • Automatic Savings: Use automated transfers to save regularly without having to remember to do it manually.
  • Budgeting Apps: Apps like Mint, YNAB (You Need a Budget), or PocketGuard can help track spending and stay within budget.
  • Reminder Apps: Use reminder apps or calendar alerts for bill due dates and financial tasks.

Simplify and Streamline

It is easy to be drawn into complicated accounts and single-line budgeting. Keep your system as simple as possible. Know what numbers matter most in your accounting and your taxes. Make your system easy to subdivide into manageable chunks of information. Make your accounting sheets as visual as possible with color coding to track your plans.

  • Consolidate Accounts: Reduce the number of accounts to manage by consolidating them when possible.
  • Minimalist Budgeting: Focus on a few key categories to make budgeting simpler and easier to follow.
  • Consolidated Information: Create a consolidated sheet of all your accounts to access these at any time.

Visual Tools

Money can seem invisible. Make it easy to “see” your monthly and annual income, as well as your savings.

  • Visual Budgets: Use charts, graphs, or color-coded systems to make financial information more engaging and easier to understand.
  • Spending Journals: Keep a visual spending journal to track where money goes and identify patterns.
  • Color-coded spending: Keep a log of what you spend with colors to match your feelings about the funds, such as green for income and red for expense.

 

Seek Support

Finding trusted advisors will help you with your financial goals. Your advisor can coach you through setting up your system, help you be accountable, and help you learn new strategies.

  • Financial Advisor: Work with a financial advisor who understands ADHD and can provide personalized guidance.
  • Accountability Partner: Have a trusted friend or family member help keep you accountable.
  • Support Groups: Others who struggle with finances and keep you accountable to your goals.

Find your path to organizing your finances with a system that works for you and routines that help you manage your resources.

Organizing Your Finances: How to Create and Maintain a Budget with ADHD

/4 Comments/in , /by

organizing finances how to create and maintain a budget

 

Managing finances is challenging, but if you have ADHD, staying on top of budgeting can feel especially difficult. With the right strategies and tools, you can create and maintain a budget that works for you. Here are some practical tips to help you get started and stay on track.

 

Break down your project

There are many overwhelming parts to setting up a budget. First, you need to know how you are spending your funds now. A project like this can be intimidating, leading to procrastination. Break down your budgeting process into smaller, manageable steps.

  • Day 1: Gather all financial documents.
  • Day 2: List all income sources.
  • Day 3: List all monthly expenses.
  • Day 4: Categorize expenses into needs, wants, and savings.

Taking small steps each day can make the process feel more achievable. If you choose to do all these steps on one day, set aside 4 hours to accomplish this.

Use ADHD-Friendly Tools

There are numerous apps designed to help you manage your finances easily. Apps like Quicken, YNAB (You Need a Budget), and PocketGuard can help you track spending, set goals, and receive reminders. Choose an app with a clean, intuitive interface to avoid feeling overwhelmed. Use reports to synthesize information for you. Set this up on your devices to use every day. Set a time to check in daily to keep this top of mind.

Keep It Simple

Simplicity is key when creating a budget that you can stick to. Choose a straightforward budgeting method that doesn’t overwhelm you with details. One effective approach is the 50/30/20 rule:

  • 50% of your income goes to needs (rent, groceries, utilities).
  • 30% goes to wants (dining out, entertainment).
  • 20% goes to savings and debt repayment.

This method helps you categorize your expenses without getting bogged down in details.

Set Up Automatic Payments

Automate as many payments as possible to reduce the number of tasks you need to remember. Set up automatic payments for bills like rent, utilities, and credit cards. This ensures you won’t miss due dates, helping you avoid late fees and maintain a good credit score. If you have insufficient funds, set up the least expensive recurring payments like gas and electricity, and set a reminder to pay bills twice a month on the same day, such as a Saturday or Sunday.

 

Use Visual Aids

Visual aids can be incredibly helpful for people with ADHD. Here are some options.

  • Charts and graphs: Many budgeting apps provide visual representations of your spending habits.
  • Post-it notes: Write down key financial tasks and stick them where you’ll see them.
  • Calendars: Mark bill due dates and financial goals on a physical or digital calendar.

Seeing your progress visually can be motivating and help keep you on track.

Start a routine 

Schedule regular check-ins to review your budget. Set a daily, weekly, or monthly appointment with yourself to update your expenses and adjust your budget if needed. Consistent reviews help you stay aware of your financial situation and make you accountable to your intentions.

Build a team for support

Share your goals with a friend or family member to be your accountability partner. Sit with a body double while you are checking your accounts. It takes only one other to support you as you work toward your financial goals.

 

Be aware of obstacles

Staying on track with a budget can be the biggest challenge despite strong motivation.  If impulsivity interferes, implement a pause for purchases with a 24-hour rule before you purchase. If you get distracted or disinterested, reward yourself for following through with money management or choose a new location to check your apps. Identify triggers for emotional spending and find alternative coping mechanisms, such as exercise, hobbies, or talking to a friend. Consider setting aside a small, discretionary fund for occasional treats to prevent feeling deprived of fun or spontaneity. Feel less overwhelmed by money by breaking your money management into smaller steps. Being aware of obstacles and using strategies to combat these help you keep on top of your money management.

 

Creating and maintaining a budget with ADHD is entirely possible. By keeping your budget simple, using helpful tools, breaking tasks into smaller steps, and setting regular check-ins, you can take control of your finances. Remember to be kind to yourself and celebrate your successes, no matter how small. With persistence and the right strategies, you can achieve financial stability and peace of mind.

 

 

Organizing Your Finances: Strategies to Combat Overspending and Over-purchasing

/2 Comments/in , /by

organizing finances

 

Shop like you mean it! It is easy to succumb to overspending due to Instagram clicks. Impulse spending can become a habit with “56% of consumers saying they are more influenced by social media images and videos when online shopping now than before the pandemic.” If you are concerned about your spending habits, understanding your spending patterns and creating a system for tracking purchases can help. Here are some practical tips to regain control of your budget and create financial stability.

 

Becoming aware of overspending

How do you know that overspending is becoming a problem? Are you having trouble paying your monthly credit card? Have you not been able to save for emergencies or financial goals? Are you feeling uncomfortable with the number of packages arriving at your home?  Is your home filled to the brim with no space to organize? These are all ways to become more aware of your overspending and overpurchasing. Financial apps make it easy to track your spending and share data on where you are spending too much.

 

 

Understanding Your Spending Patterns

The first step in addressing overspending is to understand your spending patterns. Download your expenses into a spreadsheet from your debit card, credit card, and bank statement. Review your expenses over the past few months by categorizing your spending into essential and non-essential categories.  This data is most valuable in learning what you have been purchasing. This will help you identify areas where you may be overspending unnecessarily.

 

Setting Spending Limits

Now that you are aware of your purchases, it could be time to set limits on your spending in specific areas. Consider setting spending limits for certain categories of expenses such as clothes, personal care, or beauty. One way to set spending limits is to set a specific amount to spend on a category over a time frame. You can carry a limited amount of cash for these purchases or track your expenses with apps such as Every Dollar and Spendee.

 

Avoiding Impulse Purchases

Impulse purchases are a common culprit of overspending. Before making a purchase, implement a waiting period. That waiting period could be a pause before purchasing such as a rule to wait 24 hours or even a week before making a non-essential purchase. This delay can help determine if the purchase is truly necessary or just an impulse.

 

Keeping out of the cookie jar

It is easier to follow a diet without cookies at home. Remove social media that prompts you to impulse purchase online. When it is more difficult to purchase, it creates a pause to think more about that purchase.

 

Making a game of saving

If you find yourself consistently overspending in certain areas, explore alternative ways to save money. This could include only shopping sales, using coupons, and buying generic brands. Small changes in your spending habits and rules about purchases can add up to significant savings over time.

 

Tracking your finances and combating overspending requires discipline and diligence, but the rewards are well worth it.  Like any change, it takes time to gain momentum. By understanding your spending patterns and implementing rules for purchases, you can regain control of your finances and work towards a more secure financial future. Remember, it’s always important to manage your resources more effectively.

 

Organizing Your Money and Finances: Money Management

/6 Comments/in , , /by
 
financial organizing

 

The times we live in are rough financially.  One of our biggest worries is money.  We are more aware of the personal power of using our resources wisely. Those resources start with your finances and your time. Financial organizing is as important as organizing your home.  It starts with setting intentions, establishing priorities, and creating goals for your funds. You want to know where you spend money and how much you spend.  All of this happens with money management and financial organizing. Try one of these five tips to get started organizing your finances.

 

Creating a money mindset

Perhaps as an adult with ADHD, disconnected utilities, insufficient funds, late payments, and unpaid bills even with enough money in the bank may be constant struggles for you. Fear and overwhelm might create a roadblock in working on or organizing your finances. Getting organized is the first step to realizing your financial goals. These goals can be attained by a working knowledge of your finances. You can set short and long-term goals by writing these down and analyzing how to achieve these.  Set aside time each week to be aware and learn about your finances. Be specific about your goals and use these as your “why” to get organized. Share your responsibilities with a partner to work as a team.  A money mindset gives you a sense of accomplishment and command over your fears.

 

The Power of One

Keep a list of all your accounts. That includes bank accounts, credit cards, lines of credit, and credit unions. Many of us are unaware of just how many places have our money. From this list you can pare down to single accounts to work with and use.

As in all organizing, you want to be able to find what you have! Having just one checking account is the way to know how and where you are spending it! Having one credit card not only simplifies paying the bill during the month, it also makes you most aware of where your money is going. If you are a small business owner, you should also have one credit card and one checking account for your company. Simplifying our connection to money can make all the difference. There is a lot less paper coming in as a result too!

 

Capture the details


Writing down how and where you spend money is an enlightening experience! Just like those food logs that scare us into a lifestyle change, we can do the same for money. Keep a log of EACH item you purchase in a month. Not only will you realistically know what things cost to create a realistic budget, you will also know just how many times you are using money for “wants” rather than “needs”.

 

Ledgers can make a difference for us in keeping track of and being accountable for our funds. Use your check register all the time to record checks and debit card transactions as these occur. For bill paying, keep a ledger to record your payments to utilities, credit cards, and other monthly expenses. This way you see what each bill is each month, compare the expenses of the bill each month, and be sure you paid it each month. Seeing it on paper makes money not only a currency traded but also an effective way to track your financial goals. You can also use Quicken and budgeting apps to record the payments to see annually what your expenses are and to help balance your checking account each month.

 

Apps like Quicken, You Need A Budget (YNAB), and Simplifi help you automate the process of gathering information. Track your spending by assigning categories and tags to transactions, and then generate reports to show where your money is going. This can help you identify areas where you might be overspending, and prioritize your spending to cut back on unnecessary expenses. It can also help you stay on track with your budget and financial goals. Set up the system and then set a monthly time to review the reports. 

 

Automate your money management to accomplish your goals


Good routines reinforce your plan. You hear it all the time: “Pay yourself first!” Set up an automatic payment from you to your savings account. It is the most painless way to get ahead on your savings. Having trouble paying your bills on time? Set up automated payments to get this done timely. You can use auto debit from your bank account or a credit card. You will still need to keep up to date on what is being paid and to whom, but the process can make a difference in getting the job done. Finish bill paying by filing all receipts into an easy access file or notebook. Automation can give you visual tools to help you see your finances.  Charts for bill paying, categorized payments, debt tracking and financial goals help you see where your money is going and where you can change your behaviors.

 

Routines reinforce your priorities

Even with automation, you need solid routines to be sure you stay on track. A monthly money meeting with yourself and your partner insures your bills are being paid and you further strategize on how you are spending money. Set this date and make it fun by meeting at a coffee house, having a special treat, and keeping the meeting short.  At that meeting review your bills and see what goals you are accomplishing. Set goals for the next quarter and the year. These meetings give you knowledge and opportunity to drive your success.

 

Get started where you have the most questions about your money. Wondering where you spend your money all month? You can start with an expense tracker app like Mint.com to automate and then review your spending. Want to be able to pay your bills on time online? Set up your bank account app for automatic bill pay. Looking ahead to save more? Automate your savings plan.  If you are struggling in this area, meet with a money manager or certified financial planner to help as your guide. Once you start, you will feel comfortable spending more time on your finances.

Financial Apps Make Organizing Your Finances Easy

/5 Comments/in , /by

 

financial organizing

Getting organized with your financial information can feel like climbing Mount Everest and the side of the mountain is quick sand. There is alot to look up at, the peak seems far off and there is consistently sliding back and forth. Money brings with it many emotions too. Check out these many automated tools that will help you gain control and get organized with your finances.

 

Cyber security first

We are all aware of the online dangers, phone and text scams, and dark web. Every account needs a strong, unique password. LastPass offers online security for you with easy access. If you are more of a paper person, use a paper address book listing the user name, password, and security questions. If you receive any kind of request about purchasing or payments, go directly to the source of payment. This is a time to be overly cautious.

 

Bill paying

Solutions: Many of us have been using automated bill paying online for a long time. The easiest way to pay is using your bank app and adding account information. You can pay directly from the bank to the vendor. The next easiest payment plan is with your credit card. Keep a list of automated payments, the vendor account numbers in case there is a gap in payment. Maybe you want to know more about your spending and how much you spend on different categories.  Quicken offers online bill pay with a tracking dashboard. This tools helps you analyze and strategize about your money.

Solutions: There are always random bills that need to be paid that arrive in the mail. There are quarterly payments for taxes too. Establish a command center where mail is opened and bills are paid. Set aside a weekly or bi-monthly time to pay bills. Keep your check book here with envelopes and stamps to efficiently pay with paper.

Routines: Set aside a weekly time to open mail and pay bills. Check your bank and credit card balances weekly or monthly to be sure all bills are paid and the amounts of payment.

 

Budgeting

Solution: There are two favorite budgeting tools Mint and You Need A Budget (YNAB). Both offer you consolidation of information to make financial decisions. You will need this tool to analyze where and what you are spending.

Routine: Review your spending monthly, quarterly or annually with a strategic planning meeting. With your consolidated information you can make good decisions on your next financial steps.

 

Credit

Solution: Your credit score helps lenders decide whether to give you a mortgage, credit card or other line of credit as well as the interest amount you will pay. The score is an assessment of you are a credit risk at the time of application. This score goes up and down monthly as you pay bills, get new credit and pay off loans. A good credit score saves you money, gives you options for better loan rates, and more. Credit Karma offers you a free monthly view of your credit score. Many banks offer this as service. 

Routine: Review your credit score annually or before a major purchase.

 

Taxes

Solution: Gather your paper or digital documents in January, February and March. Follow these instructions here. Can’t find your most important tax papers? Look online for your property tax payments and mortgage interest expense.  It’s easy to locate these records on your mortgage or banking websites. Medical expenses are easy to track online at your medical provider’s website.

Routine: At the beginning of February, mark your calendar for a 2 hour tax session with yourself! Go through your checkbook, bank statement and files to find important items to copy for accounting purposes. Three weeks later, mark another 2 hour tax session to wrap up those loose ends and file your documents in your master file. If you use an accountant, you are ready to send in your papers.  If you file yourself, break your filing sessions into manageable chunks like 2 hour sessions too!  You can always break these sessions into one hour segments too.  Most importantly marking these on your calendar commits you to work.

 

Bringing it all together

Make your financial organizing a priority with a weekly or bi-monthly review of your automated tools. Dig deep and think what you want to know about your spending and your goals. Create a dashboard with the information you want to know. Use your financial planning time to feel confident about your financial success. Add bookmarks to access each site easily and your ready!

 

 

 

 

15 ADHD Friendly Finance Routines

/2 Comments/in , /by

 

adhd friendly finance routines

 

Managing finances can be overwhelming.  There are monthly bills, credit card receipts, account statements, essential paperwork and automated payments. It’s not easy managing the information and tracking of all the details of how we use our funds. When we are most organized, we have a good system and routines to review our finances. These weekly, monthly and ongoing routines give you guideposts for your finances, adding up to fifteen important finance routines to help you stay organized and track where your money goes.

Weekly

  • Go through your mail weekly and shred credit card offers and other papers that have account numbers.
  • Read email and text alerts from your bank and credit card company. Act on these immediately with a call directly to the company, not responding to the alert directly in case of further fraud.

Monthly

  • Set up payment systems that work for you.  Automated bill pay is an option for your ongoing payments. If you pay by check, set a time each week or every other week to pay bills. Consistently reviewing and paying bills keeps you aware and in control of your spending and bill payments.
  • Review your bank and credit card statements online or on paper. Check all purchases, especially looking for fraud charges big or small the fraud.
  • Use a list to review automated payments. Record the day of the month, the transaction company, how it is payed and the amount.
  • Organize your financial papers by big categories and drop in paper each month. Categories include Banks and Credit Unions, Credit Cards, Investment and Retirement and Utilities and Bills. That’s correct – you only need one very large file for utilities and bills. Big categories make it easier to file.
  • Set saving goals and monitor your monthly progress. Automate your savings as income comes in so it is easier to reach your goals. Monitor this progress with a monthly meeting  to review your monthly spending on your own or with your partner. See where multiple small purchases or large purchases are derailing your savings goals.
  • Set up reminders to pay big quarterly payments such as property taxes, estimated taxes and Home Owner Association bills.

Ongoing

  • Set up online access to all your accounts.
  • Consolidate when possible. Keep accounts to two banks or credit unions at most. Consolidate credit to credit cards to two cards from different companies and keep only two investment and retirement accounts.
  • Keep up with your passwords securely. Change your passwords regularly. Keep a log of your passwords.
  • Make a copy of all contents of your wallet and other cards. Carry only the credit and bank cards you need to use routinely.  Keep the remainder, such as debit cards, at home in your safe.
  • Keep a list of all financial accounts. List the name of the location (bank), account name (checking), account number and password.
  • Keep a list of closed accounts, paid off accounts for any type of loan, mortgage or credit card. If something goes wonky, you have the account to check.
  • In case of emergency, keep a solid amount of cash in your home safe. During a local emergency, you can only get $300 from an ATM.

Managing financial routines

Because consistency and routines are the hardest work for those with ADHD, set up reminders and work with a partner.  These routines are not difficult once you start with a checklist of routines. There’s technology that can help like your bank and credit card apps, Credit Karma, Mint.com, and YNAB (You Need A Budget) to help you stay on track with your financial routines. You will find that these financial routines save you extra time spent when things don’t work as they should.

Organizing Your Money

/5 Comments/in /by

organize money

 

Money and finances mean many things to people. Depending on our background, we may have experienced scarcity or prosperity. We may view money as “to be spread around like manure” (thank you Hello Dolly!) or for only the most important of needs. Organizing your money means getting a big picture perspective, having tools set up and creating routines that work for you.  Getting organized about money is the first step for use, balance, and comfort.

The Power of One

As in all organizing, you want to be able to find what you have! Having just one checking account is the way to know how and where you are spending it! Having one credit card not only simplifies paying the bill during the month, it also makes you most aware of where your money is going. If you are a small business owner, you should also have one credit card and one checking account for your company. Simplifying our connection to money can make all the difference.

Write It Down

Writing down how and where you spend money is an enlightening experience! Just like those food logs that scare us into a lifestyle diet change, we can do the same for money. Keep a log of EACH item you purchase in a month. Not only will you realistically know what things cost to create a realistic budget, you will also know just how many times you are using money for “wants” rather than “needs”.

Ledgers can make the difference for us in keeping track of and being accountable about our funds. Use your check register all the time to record checks and debit card transactions as these occur. For bill paying, keep a ledger to record your payments to utilities, credit cards and other monthly expenses. This way you see what each bill is each month, compare the expenses of the bill each month, and be sure you paid it each month. Seeing it on paper makes money not only a currency traded, but an effective way to see what are we really about. You can also use Quicken to record the payments to see annually what your expenses are and to help balance your checking account each month.

 

Money and Taxes

Getting organized for tax time can be simpler.  Through out the year, donations and expenses are occurring related to taxes. 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 labeled file folder. This way, when you’re ready to do your taxes, you won’t have to search for the papers you need.

 

Money Routines

You hear it all the time: “pay yourself first!” Set up an automatic payment from you to your savings account. It is the most painless way to get ahead on your savings.

Having trouble paying your bills on time? Set up automated payments to get this done timely. You will still need to keep up to date on what is being paid and to whom, but the process can make a difference in getting the job done. Finish bill paying by filing all receipts into an easy access file or notebook.

 

Getting Organized with Your Money

Organization with your money is the first step to realizing your financial goals. Do you want to purchase a home, send your kids to college or retire early? Having a working knowledge of your finances makes these goals attainable. Be empowered by organizing your money with systems and routines that work for you. This all takes time, our most valuable resource, however organizing your money is well worth the investment.

Apps that help

  • Mint.com
  • EveryDollar.com
  • Your Bank app
  • MoneyMunk budget worksheet
  • OurGroceries app (save money at the grocery store with a list)
  • RedLaser (for price comparison)
  • CardStar (for loyalty cards)

What ways are you getting organized with your finances?

 

Join my newsletter for a monthly dose of organizing inspiration!