The way to wealth is not always accidental. Even if it were, how would you retrace your steps to create those beautiful accidents if you aren’t organised?
At the start of my investment journey, I thought I knew where my money was, and how it was growing till I had several investments and got confused and started wondering where my money was? I had X amount and I can’t remember touching it.
The benefits of being organised are immeasurable for you and your business.
1. It makes it easy to track your spending: Look at your statements, rejig your budgets and even your wallet. Having an idea of where you currently stand in terms of assets and liabilities is important. You may want to arrange your bills according to denominations; just like I do. I find that it helps to create a pretty picture.
2. It helps you get the most important bills get paid first. Having a neat record of pending bills helps you rank your bills in a scale of preference. Now, what you classify as an urgent bill is up to you but being organised will help you not to fall behind on making important payments.
3. You’ll know how much you’re owed: Your debtors’ prayer to forget they owe you ain’t gonna happen when you have their names and details down in a visible place with due dates. No need to start racking your brain trying to remember if you have money out there when you are broke.
4. You make yourself happy: I love to see my investment a.k.a. my money spread out in cute little worksheets.
For my organising, I love Microsoft Excel because I can do lots of maths with it and save it offline. If you aren’t number savvy, check these apps out: Mint and Goodbudget.
For business, QuickBooks is a free tool that puts together your financial statements easily. I always recommend this to every business owner.
How do you organise your finances? Go ahead and leave a comment!
Culled from Okwuchi Nyarko’s blog.
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