Madam Naka
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Post everything nightly in a good finance program like Xcel or Quicken. Best trick I was ever taught was to keep a business size card with my goal list in my wallet with my money. I think twice about $4 cups of coffee when that list is there reminding me of the important things I want to save for. |
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GMK
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First of all, think about what you owe and how you would pay for your purchase IF you only were able to pay for them in cash.
As you make a debit and credit balance sheet, define the type of debt they are and group them into immediate, short-term and long-term obligations.
Make yourself acquainted with the IRS tax criteria so you can legally and without the thought of manipulating/scheming advantages take the deductions that will allow you to maximize your wealth
Set up a schedule of the time during the day, week, month, year you must pay for these items.
Keep a "written" record and actual copy of the payment of billed debts for tax purposes when you visit a tax preparer for filing.
Go on-line and search for information on financial planning and record keeping.
This first part is easy but the second part is extremely difficult: find the resolve to keep you itchy spending finger away from your cash and plastic and follow the procedure you have setup to be financially organized. |
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Red Man
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The best way to get yourself organized financially is to avoid debt as much as possible. This means, first be aware of how much money you have and how much you make through your job. Be just as aware of how much you spend each month and be sure that how much you make is always the larger number. Long term be aware of the impact of interest on your lifestyle. Interest you earn on savings and investments builds your personal wealth. Interest you pay on credit cards, mortgages and any other delayed payment plan decreases your personal wealth. Therefore, always engage in activities that generate interest to you and avoid things or situations where you pay interest to others. |
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Y!Arnlady
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Set up an easy to follow computer program
Do some work on it every day
Do not let the work pile up, or it will seem like a hassle. |
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Big Red Ten
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We have a tax drawer. Anything either of us thinks is relevant goes into that drawer, especially starting in January when the mailings start coming in from our financial institutions.
We also have a pad of paper next to our Goodwill bin in the basement. We itemize anything we throw in by name and condition. This has led to significantly higher deductions because we have "short changed" ourselves in the past by ball-parking boxes of donations vs. using appropriate values for each item.
We write TAX when recording a check in the checkbook. Then, at the end of the year, we can scan through to locate deductible items. We have also set up a similar category in our online banking system so, again, it will be a quick scan at the end of the year.
After we file, all the receipts, W-2's, 1099's and a copy of the state and federal filings go into a business sized envelope with the tax year labeled on it. Then next year, we can just grab the previous year's envelope as a start point or for reference. |
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Coin
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Keep track of everything, don't lose receipts. |
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Mike10613
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It depends how complex your accounts are - obviously a computer will do the maths. I can do mine in my head - so I still use an accounts book. I record all cash in and all cash out. All cash in to my bank account and all cash out. More or less as simple as that. Unless you have tax deductable stuff. The Tax inspectors are very good if you ask them for advice - better than an accountant a lot of the time. |
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WhydoIdothis
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I use Excel quite heavily |
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kimhomeloans
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Quick Books is great and make sure you check your credit report for errors too. TurboTax is good too. |
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Bobbie
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I get a wide box, divided it into as many sections as I need, label each section, donations, work , etc. (did I mention the box fits easily under my bed) at the end of the day I toss them into the section they fit. If I get really spunky during the day, I label the receipt, so when I pull it out, it's easier to "file." |
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saveitok
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I'm glad you asked that question because I am going to start to donate to a great cause on the first of the 2008 year .I thought that would make it easier starting at the beginning instead of doing it in the middle and great way to start the year.I'm budging it out so I'm donating the same amount every month for it will be easier on my budget and to keep track of |
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Steve R
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Quicken Deluxe let me track all of this. |
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Free Range Chicken
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I keep all of these things for my business and personal in 3 ring binders, with labeled folders. At the end of the year, I just buy new binders. |
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LIONTOM
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GO FRESH BILLS IN ORDER Taking care and being SMART With Your $$$ MONEY $$$ TAKE CARE OF BUSINESS/PROTECT EVEN INVESTMENTS!!!!
TOM!!!!!!!!!!! |
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Leonardas i
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Check quarterly, and in a circular file. |
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Miss De Vill
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Worship Suze Orman. |
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