- Change out the calendars
- Start a new checkbook register
- Label a folder with the new year
- Print off a Yearly Spending Spreadsheet
- Print 12 Monthly Spending Logs (a Dave Ramsey thing)
- Label a cardboard box with the new year
- Start gathering everything I need to do our taxes, even though I usually don’t finish this until mid or late February.
- Update and edit all file folders. I have separate file folders for bank accounts, insurances policies, mortgage lender, pest control, etc. etc. etc. This is the perfect time to sift through each one, making sure they are up-to-date,complete, and current.
New Year’s Tradition
On the first few days of January, I take the time to prepare and organize my financial life. A few minutes of prep work now saves me hours of searching later on in the year.
Here are some of the steps I take to get Financially Organized:
This is where I keep and collect all the information that I will need at tax preparation time.
(receipts for tax deductions…. like donations, vehicle registrations, paid taxes, monthly spending logs)
Have you ever asked yourself, “What was my bill last month (or last year) compared to this month (or this year)?” That’s what the Yearly Spending Spreadsheet is for!
I have tried many accounting software programs but I always would keep a hand written record too. So why do double the work? I find that I like keeping my records by hand and it only takes about 5-10 minutes to enter all our information for the month.
I use this to store ALL my receipts! I save every receipt. This has come in so handy for rebates, returns, refunds, and warranties. I will create 12 sub-folders inside the box for each month, making it really fast to locate a receipt. (the 12 sub-folders are reused from year to year)
Well, that list will keep you busy for a while!
Actually, once you have a filing system in place it really only takes me an afternoon to complete this To-Do list.
There is certainly more that I could add to this list. If you would like to see my financial notebook or more details on my filing system, please let me know. Or if you have any record keeping and/or financial organizational tips you would like to share, I would love to hear them!
