Ready to Get Your Finances in Order? These Six Tools Will Help You Whip Them into Shape
One of the most important secrets of the financially successful is organization. By creating a system for managing their finances, the financially savvy remove the stress from handling their money and run their financial lives like a well-oiled machine.
If you’re ready to get a handle on your money, grab these six tools and set your home office up for wealth.
Shredder. With identity theft running rampant (and little police can do to help victims), a shredder is a must-have tool on your wealth-building journey.
Any document that that identifies you and your family members by name and address needs to take a trip through this machine before it hits the circular file.
A good cross-cut one will run you about $30, and make it hard for even astute criminals to reassemble documents. Be sure to pick up some sharpener sheets to keep yours running smoothly for years to come.
External hard drive. We all know how important it is to back up your data, but most of us rarely do it. When it comes to sensitive financial information, redundancy is key.
Keeping a copy of your vital financial documents in an encrypted file on an external hard drive could save you a host of headaches in the long run.
Look for a solid state drive that’s 250 gb or larger, and backup every time you scan in important docs.
Scanner. Having quick access to important financial documents will make you more efficient, and make mundane money tasks more enjoyable.
Use your scanner to transfer digital copies of all your important documents onto your household’s external hard drive.
If you own a business or prep your own taxes, scanning your receipts, warranties and other key documents will cut down on administrative frustration, and help corral everything you need to run a tight ship.
File Cabinet. For those documents you simply must keep on paper, nothing beats the old-fashioned file cabinet.
From tax returns to client contracts, an original hard copy could save you hundreds – if not thousands – of dollars. Keep the docs for at least the recommended amount of time, then shred them once they’re no longer relevant.
Fireproof lock box. If you ever have to leave your home in a hurry, a lock box will serve as your financial “go bag.” It should be well-hidden from prying eyes, but fairly easy to access in case you need to grab it on the fly.
Hidden safe. The thought of having a home safe may seem like a bit much if you’re not a Rockefeller. Nevertheless, modest and middle-class households are burglarized every day, and people lose valuables that often aren’t recovered.
If you have valuables and don’t like the limited accessibility of a safety deposit box, having a small, hidden safe might be ideal. There are several styles to choose from. Select something unassuming so intruders aren’t the wiser.
What tools do you use to make managing your money easier? Share your system with other readers in the comments. Need a little help setting up an effective, system to run your finances? The Weekly Money Routine is the perfect place to start.
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