TL;DR
Being disorganized with money costs you in late fees, last-minute prices and bank overdrafts. Take time this month to set up a few systems: track your spending, create a realistic budget, and if you don’t know how to reconcile your bank account, ask for help and learn now.
There are a lot of costs that are directly related to being disorganized and cluttered. According to experts, Chaos in your money management system can eat up to 15 -20 percent of your budget when you add up late fees, last minute premium prices and banking overdrafts.
Even if you are uncertain about your true financial situation, take time this month to implement a few systems to get your finances under control. If you don’t keep a tally of your spending habits, start now and create a realistic budget.
If you don’t know how to reconcile your bank account, ask for help and learn how to do it now. This skill will enable you to take control of your finances for the rest of your life.
Keep reading
- Daily Tip #3: Switch to Online Banking and Turn off the PaperGo paperless and keep digital copies of your statements.
- Organizing FinancesSimple systems for bills, statements and money records.
Frequently asked questions
How does disorganization cost me money?
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Chaos in your money management adds up through late fees, last-minute premium prices and bank overdrafts. Putting a few simple systems in place stops those costs from eating into your budget.
Where do I start getting my finances under control?
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If you don’t keep track of your spending, start now, and create a realistic budget. Do it this month, even if you are unsure about your true financial situation.
Do I need to know how to reconcile my bank account?
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Yes. If you don’t know how, ask for help and learn it now. Kathi says this one skill lets you take control of your finances for the rest of your life.
