Organizing your finances will make you better at making spending choices. Organizing your purchases will help you deal with personal debt. Generating wealth is not always about having the most assets or money to spend. Sometimes analyzing your assets and planning for their future use pays off in an unexpected way. A lack of organization can harm your finances as much as being short on cash.
How you are potentially losing money because of disorganization.
You may have purchased duplicate items because you can’t find what you need when your need it OR you don’t even know you have it.
23% of adults say they pay late fees because they can’t find the bills. How many late fees have you paid in the last year?
Just looking around your house, I bet you can see things you no longer use, or in reality, never used. How many hundreds of dollars are represented in your stuff?
Do you have more than one streaming service subscription? Now, how often do you really use them?
This is an easy way to get food on the table, but it is definitely not the healthiest or the best financial decision.
What you can do starting TODAY
Go on a treasure hunt
Put like items together and see what duplicates are lurking. Visit your storage unit and make a plan to eliminate your dependence on this space.
Become more mindful of your future purchases.
You could even create a 30-day list and see if you still want the item(s) after 30 days. This reduces the spontaneous buying that is so easy to get caught up in.
Create a meal plan
One week I spent $30 on groceries because I already had most of the items at home. If I didn’t have a list or a meal plan, I would have certainly spent more than that!
Take really good care of your stuff
This includes your car, lawnmower, computer, sports equipment, children’s toys, etc. For example, it costs less to replace a spark plug and air filter every year than to buy a lawnmower every 3 years.
If your own peace of mind wasn’t enough to motivate you, maybe knowing there is a direct financial benefit to getting organized will do the trick!
Other financial benefits of organizing your life:
Make money on the items you are willing to sell. Have more time to spend on money-generating activities such as starting your dream business or pursuing a higher-paying job.
Have more time and energy to devote to your own self-care for better emotional and physical health.
More time and energy to explore free and active hobbies such as walking, yoga, library trips, journaling, biking, etc.
You may feel like money is a topic that has nothing to do with your life. However, it’s important to not think this way as personal finance has a huge impact on every aspect of your life. Regardless of your financial situation, whether you’re looking to make more money or trying to save money, it’s worth staying organized. It is crucial that you make financial organization a priority in your life. This will allow you to get a better understanding of the different aspects of your finances, create more wealth, and keep it over time.
Call or text 866-824-1440 to join the Ingram Taxes Club or visit www,ingramtaxes.com to know more about the services they offer.
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