Organize your Finances
You may be saving money by cutting coupons and corners, but what good is that for if you don’t know where your financial belly button is?
You know where your real belly button is, well you should know where you are financially as easy as being able to touch your belly button with your eyes closed, but do you? What interest rate do you pay for your mortgage, what is your payoff? What do you pay in taxes? Etc, etc.
Everyone needs to have a financial profile, just like you do on your internet accounts, but this time with the TRUTH. This will serve as a budget for you but will also be a one stop information sheet of all the important business you have to take care of in your life. In other words, in case of fire or hurricane, this sheet goes with you.
Things to remember; keep the financial profile safe where only you can access it and where someone you choose may access it if something may happen to you. Update it at least every 3 months. Here is a nice format you might want to try to begin to input your own information. It is a windows template you can download to excel. http://tinyurl.com/y254ry
Things you may want to include:
Credit cards:
id them with the last 4 numbers only
include the interest rate and balance
phone number
Mortgage:
Phone number
Interest rate
Payoff
Account number
CDs/Bonds/IRA
ID numbers
Rates
Manager phone numbers
Insurance Info (life, car, house, etc):
Contact number
Cost
Id number
Believe it or not you need to include your goals somewhere on your Financial Profile, if not what in the world are you saving for? You need to have them in 3 categories: Immediate goals, Short term goals, and Long Term Goals.
Immediate goals are anything that needs to be done from yesterday to three months. Fixing your car breaks would probably go here.
Short term can be four month to two years. You might place painting the car in this category.
Long term is over two years. And finally you might place buying a new car in this final category which happens to be the
You may be saving money by cutting coupons and corners, but what good is that for if you don’t know where your financial belly button is?
You know where your real belly button is, well you should know where you are financially as easy as being able to touch your belly button with your eyes closed, but do you? What interest rate do you pay for your mortgage, what is your payoff? What do you pay in taxes? Etc, etc.
Everyone needs to have a financial profile, just like you do on your internet accounts, but this time with the TRUTH. This will serve as a budget for you but will also be a one stop information sheet of all the important business you have to take care of in your life. In other words, in case of fire or hurricane, this sheet goes with you.
Things to remember; keep the financial profile safe where only you can access it and where someone you choose may access it if something may happen to you. Update it at least every 3 months. Here is a nice format you might want to try to begin to input your own information. It is a windows template you can download to excel. http://tinyurl.com/y254ry
Things you may want to include:
Credit cards:
id them with the last 4 numbers only
include the interest rate and balance
phone number
Mortgage:
Phone number
Interest rate
Payoff
Account number
CDs/Bonds/IRA
ID numbers
Rates
Manager phone numbers
Insurance Info (life, car, house, etc):
Contact number
Cost
Id number
Believe it or not you need to include your goals somewhere on your Financial Profile, if not what in the world are you saving for? You need to have them in 3 categories: Immediate goals, Short term goals, and Long Term Goals.
Immediate goals are anything that needs to be done from yesterday to three months. Fixing your car breaks would probably go here.
Short term can be four month to two years. You might place painting the car in this category.
Long term is over two years. And finally you might place buying a new car in this final category which happens to be the
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