Some simple ways to keep your finances in order (696 hits)
Keeping good business and financial records are not only meant for accountants and big companies. Successful small companies and individuals keep a good hand on their money. I can't tell you how many people I have counciled that has saved thousands just by watching what they spend. Trust me every dollar you spend adds up and finacial stability is earned one dollar at a time. With that said simple spreadsheets, a simple accounting software or pen and paper (ewwwww only as a last resort) can all be a beginining for future stability.
Ever since I was young I was a penny pincher my mother will freely tell anyone how I used to walk around the house turning off lights, paying attention to sales (watch the price and ounces that sale may not be worth it afterall) and writing out budgets all before I began middle school. Heck even at three I knew the value of picking weeds from a garden, holding secrets or even allowing someone to pinch my cheeks :-). As a result I have been able to do things and spend in ways that appear to be unbelievable to the naked eye. True discipline is usually my answer.
If you have a checking or savings account most banks offer online account managment. From here you can usually download your activity into a spreadsheet. If you can't afford to buy excel you can alway download a viewer for free. The viewer will allow you to see the activity but you won't really be able to manipulate it. I think you can do simple equationswithin it though. When analyzing your information it is better to separate it to give you a better grip on whats going on. If you handle your business and personal together you want to start with separating the two. For your business seperate all the deposits, all expenses that are directly related to generating business (software costs, advertising etc), all expenses that are indirectly related to generating business (mileage to a client, business lunches, seminars etc). For your personal seperate deposits, home care (cleaning materials, taxes anything related to the home), personal care (personal hygeine, food etc). This will not only help you identify costs but set you up for a budget. After you have done this you want to keep your receipts in order. Mark up several large envelopes with the same headings that you used above. In these envelopes you want to fill them with smaller envelopes marked by date. In each of these envelopes everything you pay for should be inserted and kept together. When you reconcile they will come in handy. As a rule of thumb you should do a complete rec of your records each month and at any given time you should know whats in the bank.
Every dollar adds up, remember that saying? It's true. Here's another simple idea everytime you catch something on sale put the savings into your saving account. When you hit a goal of say 500 take 250 out and put it to the side. When you hit your 500 goal again take another 250 out and go on a 500 shopping spree. You will be amazed at how quickly you reach your 500 goal on buying sale items alone. Whenever you sacrifice put in a way to reward yourself even if it is small this will keep you motivated.
