It’s funny how it works. Since I started using online banking to track activity in my checking account, for example, I have experienced these benefits . . .
- Because I can see my balance and my “pay to accounts,” I can more strategically plan when I am going to pay my bills. The result is that I sometimes delay paying a bill for a few weeks, and therefore have more cash on hand for food, gas, mortgage and other expenses.
- Because I really do have a handle on the bills I am paying, I never bounce a check the way I sometimes did when I was using paper checks. Because bouncing checks is expensive, that saves me money and makes me feel better too.
- Because I charge all my business expenses to one credit card, I can easily generate a year-end statement that lets me quickly come up with a list of deductible business expenses. So again, a little organization is saving me money.
- Because my laptop is now my financial management dashboard, I can monitor my money from one location instead of a number of manila folders, desk drawers, and the bottom of my sock drawer. (You see, I am naturally a pretty disorganized person.)
- Because I automatically make monthly charitable contributions to my college, I never miss a payment. Plus, I can easily add up those contributions when tax time rolls around and get a bigger refund.
So you get my point. When you get organized about your finances, you end up with more money. It’s kind of magical.
Those are some reasons why “I will get my finances organized” is such a good resolution to make for the year 2013.
If you’re not sure how to get started, StraighterLine has a course for you. It’s called Personal Finance, and it can help you get your financial house in order in the coming year. Here’s a quote from the course description:
“You’ll focus on the development of practical methods for organizing your financial information, interpreting your personal financial position and cash flow, developing achievable and worthwhile goals, and implementing actionable plans and risk management techniques to meet those goals. More specifically, you will study consumer credit, taxes and the IRS, housing options, strategies for making major purchases, money management, insurance, and investing.”
That’s a good recipe for getting your finances organized in 2013. And what will you do with the extra money that ends up in your pocket after you do? You could save it or spend it on some college courses that could help you earn even more money in the years ahead. Good financial management tends to snowball as it rolls downhill, paying you more and more returns. Look out below!