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Budget Organization and Filing Tips

One of the best ways to make sure you can stick to your financial budget is to stay organized. I found that by taking a little extra effort to keep organized and properly file bills and other financial papers, I was able to keep to my budget.

I have listed some budgeting organization tips that have helped me.

Budgeting organization tips

  • When your bills arrive, put them in a centralized location. For me, I put bills in a "bill basket" by my computer desk. I don't even open them in most cases, I just make sure I plop them in the basket the day I get them in the mail. Don't put unpaid bills in different folders or categories. The last thing you want is an unpaid bill that you missed because it was in a folder that you forgot to check.
  • Designate 1 day a week to sit down and organize your finances. For me this involves sitting down at my computer and desk, opening and paying bills that arrived in the mail that I placed in my basket. Whether you are paying bills online or writing checks, make sure you set the time aside once a week to keep on top of your bills.
  • Centralize a location for everything that is related to your finances. This includes, envelopes, stamps, checkbook, your computer (hopefully you use a software program like Quicken or Money) to pay and record your bills. This way, you have everything at your fingertips and won't have to go hunting for things like stamps or your checkbook. If you do, the next thing you know you are off doing something else!
  • Categorize your paid bills in folders. I like to use one of those accordion flex binders to organize my paid bills. I label each section into categories such as utilities, credit cards, car payments, etc. Whatever you do, don't organize unpaid bills in categories. This is a sure fire way to miss a bill that is hiding in a binder or folder!
  • Keep and organized your bank statements and canceled checks. You may need to dispute a bill and in many cases, having the proof of payment will save you headaches. If you are applying for a new home mortgage, you will need bank statements and rent checks that have cleared.
  • Use a software program to help organize and shorten your budgeting time. Microsoft Money or Quicken are the two most commonly used software tools to help organize your finances.
  • Consolidate your debts. For instance, if you have 4 credit card bills to pay every month, see if you can consolidate them down to 1 or even look into rolling your credit card debt into a second mortgage with a lower interest rate.

Are You Tired of Worrying About Money?

If you prefer to get really automate the budgeting process, consider Quicken. I have used Quicken for over 10 years and recommend it 100%. Click here to download and get started with Quicken Premier.

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