Tips for Organizing Finances

Organizing finances is important to your financial health. If you aren’t organizing them, chances are that you are nowhere near a prepared for a financial emergency as you would like, if you’re prepared at all. The task of organizing finances can be daunting for many people, especially if you have never even made a budget before. Sometimes the fear of seeing where you sit financially keeps you from tackling it. Other times you simply are too busy to find the time. No matter what you reason is, taking the time and initiative to organize your finances will get you on the path to financial fitness and a huge stressor in your life.

Affiliate links may be used in this post. Ordering a product through these links may result in a commission. Read the full disclosure here.

Organizing finances is imperative to your financial fitness. Here are some tips and a free Monthly Budget spreadsheet to help make it easier!

 

[bctt tweet=”Organizing finances is imperative to your financial fitness. This can help! #atozchallenge #personalfinance” username=”diyadulation”]

 

Organizing finances is imperative to your financial fitness. Here are some tips and a free Monthly Budget spreadsheet to help make it easier!

Know Your Net

Before you do anything else you need to know what you net (bring home) each month. This is what you will actually have to spend after taxes, health insurance, and any savings such as a pre-tax retirement fund or health savings account. There is a section to do this on the editable Monthly Budget I created that will do the math for you by simply plugging in your numbers. However, here is the math if you would like to figure it up for yourself on paper:

  1. Hourly Wage X 40 = Gross
  2. Gross – (Insurance + 401K + HSA) = Taxable Income
  3. Taxable Income X .23 = Taxes
  4. Taxable Income – Taxes = Weekly Net
  5. Weekly Net X 4 = Monthly Net

 

Organizing finances is imperative to your financial fitness. Here are some tips and a free Monthly Budget spreadsheet to help make it easier!

Know Your Expenses

Once you know your monthly net, it is time to figure out your monthly expenses. All of your expenses will be categorized into 3 groups:

  1. Essential – These are the expenses that you absolutely have to have. These include expenses such as you rent/mortgage and your car insurance. Essential expenses are the most important ones and need to be you priority each and every month, no exception.
  2. Non-Essential – These are the expenses that are nice to have or that make your life easier but that are not necessary for you to take care of yourself and your family. Cable television and eating out would fall into this category. This is the first category to make cuts from if you are spending more than you make.
  3. Debt – This is a category you want to try to eliminate altogether. Any student loans or personal loans as well as any credit cards you own will fall into this category.

You want to list out what all of your monthly expenses are along with what the monthly payments on them are. Again, there is a place for this on the Monthly Budget spreadsheet that will total your categories for you as well as give you some basic ideas of what falls under each category.

 

Organizing finances is imperative to your financial fitness. Here are some tips and a free Monthly Budget spreadsheet to help make it easier!

Find Discrepancies

If you have never made an actual budget before, the numbers may surprise you. You may find that your monthly income is greater than you expected. In contrast, you may be shocked as how much money is going out each month. If you are still finding yourself broke each month, no matter which of these scenarios you fall into, there are steps you can take to get your budget and spending on track.

Income is Greater

  • If your income is greater than your expenses but you are still running out of money each month then you need to find the leaks. The best way to do this is to track your spending. A wallet register is great for this. It’s small enough to fit in a debit card sleeve so you can carry it in your wallet. It is so convenient that even if you use cash, write down every purchase for a week or two. Then take a hard look at where all of your money is going. Are you eating lunch out every day? Do you get a Diet Coke from the vending machine in the breakroom before work? Once you are aware of the leaks, start trying to plug them by tempering your spending. You can start small by packing your lunch once a week or by purchasing a 6 pack of Diet Coke from the store to take into work each day instead of buying from the vending machine.

Expenses are Greater

  • If you monthly expenses are greater than your income then it is time to start making some major cuts. Your non-essential expenses are the first place to look at when making cuts. These include cutting cable, not eating out, and skipping your morning Starbucks. All of these are luxuries not necessities. If you want to get financially fit, you have to buckle down and make some sacrifices. Some other ideas for cutting back could be finding a coworker to carpool with or take a look at your cell phone plan and see if you are paying for features you don’t use. These are pain-free ways to curb your expenses.

Bill Pay Days

Once you have your budget organized, the last step to organizing your finances is creating a pill pay schedule. Figure out when all of your bills are due and schedule “bill pay days” on your calendar. Be sure that you are paying all of the bills that are due before your next scheduled bill pay day. Pay day is the best day to schedule your “bill pay days” because you will have a clear picture of what you actually have to spend after paying all of your bills. Also, this keeps you from spending the money you need for bills because it is already gone.

 

Organizing finances is imperative to your financial fitness. Here are some tips and a free Monthly Budget spreadsheet to help make it easier!

These steps for organizing finances will have you on the right path to becoming financially fit. Once you have plugged money leaks and trimmed some expenses, you can begin setting financial goals for yourself. Set up a strategy to pay off debt. Start building your savings. Make your money work for you instead of your working for your money. Don’t forget to grab your free Monthly Budget spreadsheet before you go. It will make creating your budget a breeze! After you’re done, start organizing the rest of your stuff with A to Z Organizing.

See where I’m linking up!

Organize an Entertainment Center

In your home, the entertainment center is likely a prominent feature in your living room or family room. It is because of this that it is important to have it organized and functional. This isn’t just a place for your television to sit. In fact, it should work hard for you and be multifunctional. Don’t let it become a cluttered, chaotic mess. Instead, take the time to organize it and make it truly work for you and your family. These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

Affiliate links may be used in this post. Ordering a product through these links may result in a commission. Read the full disclosure here.

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

TV Position

Your entertainment center should be just that: an entertainment center. The term has become so ubiquitous with TV stand that sometimes we forget to differentiate the two. Maximize the space in the area by using furniture that places your TV higher from the floor or mount it higher up on the wall. This allows you to utilize the entire space instead of having a ton of wasted space above the television.

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

Furniture Options

Don’t limit yourself to traditional entertainment centers. Instead, choose pieces that make good use of the space and suit your needs. If you have the available space (and available cash) for one of those giant entertainment centers, like this beauty, that is awesome and you should snatch one up. If that just isn’t in the budget right now, find another piece of furniture that allows maximum storage for minimum budget. Dressers are excellent for this and can be purchased inexpensively at thrift stores all over. Another great option is a buffet, which is what we use because of the additional drawers.

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

If you already own an old CRT television version of an entertainment center, these can also be perfect. Set your flat screen on top and store board games in the old television spot. You can also add some beautiful cloth that matches your décor to hide the games from view. The easiest way to do this is to attach adhesive Velcro to the fabric and to the lip of the entertainment center to attach (and detach) the fabric easily.

[bctt tweet=”Make your living room hub and organize your entertainment center easily! #atozchallenge #organization” username=”diyadulation”]

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

 

Include Entertainment

Besides the obvious entertainment items such as your TV, DVD player, and gaming console you should also include other entertainment items in your entertainment center.

 

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

What You Didn’t Think Of

Sometimes there are things you use frequently that are convenient to keep close by. These may not qualify as entertainment items but they are worth finding the space for. Right now, in our home, that item is diapers, wipes, and other diapering related items. Once our kids get older, however, we’ll find other useful items to keep handy. Here are some examples of useful items to organize in your entertainment center:

Essentially anything that is convenient to have at your fingertips in the living room is an excellent item to put in a free drawer.

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!
See what I mean about little hands?! It’s crazy!

Bonus Items

Some items, while not necessary, can make life easier if you have them. One item that I absolutely love is our mounted power strip. It is an absolute dream for a klutz like me. Sometimes you have to access the plugs and when it is mounted to your entertainment center, access is a breeze. No more pulling out furniture to reach a plug or risking breaking a cord by tugging it free (ahem… not that I’ve ever done that or anything…). Other tools that can make life and organization easier for you are:

 

Make a living room hub! These tips to organize an entertainment center will make you wonder why you waited so long to tackle the project!

The most important tip to remember when organizing your entertainment center is to make it work for you. You want all of your entertainment items in one place as well as additional storage to include easy access to the items you need on a regular basis. Let your entertainment center become the hub of your home, or at least your living room. When you’re done with the entertainment center, come back and check out the rest in the A to Z organization series.

See where I’m linking up!

Organizing Decorations

Whether you decorate for every holiday or not, chances are there are still items that get stored in your home for yearly holiday use. Easter has baskets that get pulled out and you are no doubt the proud (or not-so-proud) owner of more than enough plastic eggs. Halloween means costumes even if you don’t put out a single piece of décor. Christmas means a plethora of festive pieces all over the house or, at the very least, ornaments for the tree. These items have a tendency to get shoved in a closet or in the basement until the next time the holiday comes around and you’re frantically searching for where they are buried. Make your life so much easier you next holiday by organizing decorations now.

Affiliate links may be used in this post. Ordering a product through these links may result in a commission. Read the full disclosure here.

 

Taking the time for organizing decorations now will help ease the stress of the holidays for you when they come around. These tips will help you do it!

Step 1

Find all of your decorations. If you haven’t previously had any sort of organizational system for your holiday décor this could be a time investment up front. Take the time to do the mad dash now and pull out everything you use during the holidays.

Step 2

Determine where the decorations will be stored. This can be a closet, the attic, the garage… wherever works for your home and space. We keep all of our holiday decorations under the basement steps which allows us a generous amount of storage. If you don’t have that kind of space, you want to determine where you can reasonably store the items.

[bctt tweet=”D is for decorations! Organizing decorations now will help ease the stress of the holidays. #organizing #atozchallenge” username=”diyadulation”]

Step 3

Once you have determined where you’ll store the items, take a hard look at the space you have versus the decorations you own. If you plan to fit all of it in a closet, chances are that you need to purge some items. We use large storage containers but you may only be able to use small storage boxes.

 

Taking the time for organizing decorations now will help ease the stress of the holidays for you when they come around. These tips will help you do it!

Step 4

This can be a difficult step for many people, but it is important to keep only what will fit in your designated containers. Keep in mind that the containers do not need to be all the same size. If you really dig Halloween, don’t be afraid to make that container larger than the others to accommodate your favorite décor items. Cut items from the holidays that aren’t as big of a decorating deal for your family. To give you some examples, here is a breakdown of the major holidays and décor items:

New Years

  • All you really need (a term I’m using loosely here) in this container are the funny hats and noise makers. If you do have this décor, this would be the first one to cut if you are low on space.

Valentine’s Day 

  • The average family typically only has a wreath and possibly a garden flag for this holiday. If that is the case for you, consider combining in a container with other holidays that only consist of similar décor items.

Saint Patrick’s Day

  • The same goes for this holiday as with Valentine’s Day. If you have any decorations at all, it may only consist of a wreath and some beads. This is another great holiday to combine.

Easter

  • You may have a ton of Easter décor but that gives you the opportunity to really pare down what you need to store. Keep only enough baskets for your family. Ditch the grass and use sheets of tissue paper instead. Not only is it easy to reuse, it takes almost no space to store. Also, get rid of the excess plastic eggs. Keep only what you need for an egg hunt or to go in baskets. Also, once you have them organized you will know exactly what you have instead of running out to buy more.

Independence Day

  • This is another holiday that you may not have much décor for. While, being a military family, I could never advocate getting rid of your flag you can absolutely place it with your décor from other holidays. You could also fly it year-round. If you have items that you pull out for a 4th of July barbeque each year, store those with your party supplies which I’ll show you how to organize later in the series.

Halloween

  • Regardless of how much actual décor you have for Halloween, I definitely recommend having a container to store costumes in addition to a container for décor. If you would like, the costumes can be stored with kids’ toys for play throughout the year. Just be sure you have a clear storage solution for them before deciding to keep them.

Thanksgiving

  • Your Thanksgiving décor may consist of a lot of table décor if you host dinner each holiday. If it does, try using your regular dishes and a plain, solid colored tablecloth that can be used for many different occasions. Ditch the centerpieces you’re storing and opt for a couple of vases filled with pinecones from outside during your holiday dinner each year. If you do these things, it will eliminate the need for a Thanksgiving storage container altogether.

Christmas

  • We have a ton of decorations for Christmas (which I am currently in the process of purging) but we also have the space for 3 giant plastic tote boxes to store them all. If you don’t have that kind of space it is time to cut down your decorations. Essentially, you can get by with only ornaments, stockings, and a wreath. These won’t take up a lot of space and will likely be able to fit in one box.

Step 5

Once you’ve decided what to keep and where to store it, place the items you are keeping into your containers and label them. Now stack into their designated area until you need them.

 

Taking the time for organizing decorations now will help ease the stress of the holidays for you when they come around. These tips will help you do it!

Taking the time to organize your decorations will help ease the stress of the holidays for you when they come around. It is also important to remember your system and your available space when receiving gifts that are holiday décor items. Know that it is perfectly acceptable to put the word out to friends and family that you would appreciate them refraining from giving you holiday décor until you have a larger space in which to store it. They have all been there before and they will understand. Now keep the organizational momentum going with A to Z organization.

See where I’m linking up!