Are you stressed and unorganized with money? Maybe you have no idea of where your money goes. You forget to pay bills or accidentally pay bills twice. No matter where you are right now, you can get organized with money.
How to Get Organized with Money (No One’s Talking About This Genius Way!)
You’ll find out:
- The best way to get organized with money
- How to get over intimidation (and boredom) with money
- Personal finance organization 101
- Money organization: real stories!
The best way to get organized with money
First off, when it comes to getting organized with money, no one’s talking about using financial statements! They are the best way to get organized with money.
Financial gurus write about budgets, money goals, or of course, there’s DIY frugal pumpkin spiced latte recipes!
Those are ALL great! However, it’s time to think of money in an entire new way! If you crave organization and want accountability with money, then fill in your personal financial statements.
Financial statements help you see where you stand now and forecast expenses to get the results you want with money. They’re what the Fortune 500 (billion-dollar companies!) use. I learned ALL about em’ studying Finance at McCombs School of Business. I freakin’ love financial statements. You will too!
How to get over intimidation (and boredom) with money
Next, I get it! Financial statements sound boring, or intimidating. Don’t be intimidated by financial statements. Most everything you need to know about personal finance you learned in kindergarten: adding and subtracting.
If you can add or subtract, then you can fill in your financial statements with no problem.
Also, if money sounds boring, then you’re thinking about it wrong!
Managing money isn’t about managing money. It’s about managing your life. Personal finance is being a bridesmaid in your best friend’s wedding, back packing Asia, or taking a much-needed sabbatical.
Best Money Class Ever starts soon!
If you’ve been meaning to get your finances in order, then now’s the time. Best Money Class Ever is a live and virtual 4-week personal finance class. Learn how to pay off debt, save, and stress less about money. Get the details and enroll now!
Personal finance organization 101
There are three financial statements to help you get organized with money.
- Balance Sheet
- Statement of Cash Flow
- Income Statement
A Balance Sheet shows a snapshot of exactly where you stand with money. It’s your “define the relationship,” talk with money. This shows the total current value of your assets (or everything you own like your car, home, savings, retirement accounts, etc.) and the total current value of what you owe (your car loan, mortgage, student loans, credit cards, etc.).
Your Statement of Cash Flow shows all of the inflows (income like paychecks, returns, etc.) and outflows (your expenses like rent or cell phone).
The last financial statement is your Income Statement. You’ll use this to project your income and expenses. Think of your Income Statement as your executive life bucket list. It puts a dollar sign to your to-do list.
When you have a plan with money it just means you are in charge and can do MORE!
Where can get your own financial statements?
You can search online to see what financial statements look like and design your own on a spreadsheet. Investopedia is a great and reliable resources for all things financial.
Or I designed a Financial (day) Planner, it’s a day planner and financial plan in one! In addition to the three financial statements there are other great calculators. You can see exactly what it takes to be debt-free in 36 months or less. Also, there’s a fantabulous investing calculator.
You can get access to your own Financial (day) Planner when you enroll in Best Money Class Ever here.
Money organization: real stories
If you’re wondering if it’s worth it to fill in your financial statements to get organized with money, here’s what others have to say.
Beth got her PhD and saw many of her friends working for six years and building their 401(K) plans. Beth felt like she was late to the game. “I wanted to make sure I could hit the ground running and not have to retire six years later,” she said. Before landing her first job, she decided she needed to learn about money.
By filling in her own Statement of Cash Flow to see her cash inflows and outflows in a month Beth said, “It was a good exercise to see where all my money went during a month,” said Beth. She recommends tracking your expenses especially when you have a big life change like having a baby, moving, or getting married. It’s a chance to start over.
Check out her story here.
Vani, architecture and entrepreneur said, “I’m addicted. This spreadsheet is just so much easier than Quickbooks. Thanks, we are both pretty excited to get this show on the road!”
Jessica and Daniel were adjusting to being new parents on a single income. They paid off $21,000 in a year. Jessica said, “The spreadsheets contained all the advice, facts, and tools that help me reach my goals for me and my family.” Find out exactly how they paid off debt here.
You can get organized with money!
Personal financial statements are a genius way to get organized with money. Remember, you only live once. Be smart with your money now.
