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Money Organizing

Money Organizing

One of the biggest things I never learned and needed to learn was money organizing. To me, money organizing is understanding where you’re spending your money. Why you’re spending your money. As well as what you owe and when. I find that a lot of people enroll in auto pay and the “out of sight out of mind” mindset sets in. 

 

One of the biggest goal categories in my 2022 Manifestation is the money category. The main reason being in the past I have not been the smartest or even the best person with my money. I flat out sucked. I did not know how to save or the importance. I did not understand debt or interest rates. I just wanted to live life for the present without prepping for the future, or even a rainy-day fund. 

 

Now I know what some of you are thinking; “you always say live for today”. And that is correct. However, I was living paycheck to paycheck when I had no reason to do so. All because I was overspending stupidly. For the last two years, I have been working on getting my money organized. 

 

Over the past few years, I made a lot of major financial changes to help me with money organizing. The biggest steps I took though were: 

 

  1. Figure out what my set costs are. 
    1. These are things like rent, car payments, utilities, credit card payments, etc. Things that are known essential costs month to month no change. Understandable utilities typically change from month to month. 
    2. I physically write down all of these and made sure to highlight the set costs. 
  2. What are my subscriptions? 
    1. I went through what stayed and went. Things I used twice a year or provided no true aid to me were canceled. 
    2. I even went through and compared monthly costs to yearly costs (almost always with yearly I saved $$). 
    3. Make sure to include things like subscription boxes, classes, apps, etc. 
  3. I took a deep breath and looked at my credit card, credit score, and card debt amounts. 
    1. Understanding how much I owed played a huge role in me realizing I need to get my sh*t together if I ever want to own a house or condo. 
      1. This also made me realize that I needed to truly understand how these affected me.
  4. Figure out when everything is due.
    1.  To this day 99% of my bills are set up on automatic payments, However, I still have in my calendar when everything is due and the amount. 
      1. This has honestly helped me stay more conscious on shopping sprees, ordering delivery, and choosing when to save. 

These were the first 4 major steps that I took. However, they were also the biggest steps I took because for once I was able to see where my money was going, what I was wasting it on, and where I truly needed to focus. To this day every few months, I  repeat the process and make sure nothing has changed and I’m still on the right track. I did my best to even ask people for their advice. Now to be clear these are people with who I feel comfortable and confident about talking money. Here is the best advice I was given. 

 

  • Always be in the known, even if you have automatic payments set-up 
  • Make sure notifications are on and you are reading emails from the companies and places that you have bills or owe money to. 
  • Keep track of your spending costs around holidays, before vacations, etc. 
    • Often at times, we think we need X, Y, and Z for these times, and we ruin our budget getting them. 
  • Check your bank and credit card statements at least once a month 
    • Fraud is huge. Take time to sit down and verify that all the charges were made by you. 
    • Make sure you report any charges that are not you immediately!
  • Learn about Credit Cards
    • Interest rates, points, and credits core are things I briefly learned about in high school economics class but never enough to feel confident. Do your research and learn about credit cards especially if you use them or own one or more.
  • Make sure you have the best credit card for you 
    • Not all credit cards are the same. No credit card works for everyone (even though every company tries to make you think so). Do the research and make sure the credit card or cards you’re using work with you and your life. 
  • Educate yourself 
    • Especially if you have loans out or want to learn how loans work (like buying a house) learn how the money works for that. Learn about interest rates and such. 
    • Also, learn about your bank! Do you have fees? Annual? Overdraft? Maintenance? Is this the right bank for you? Just because your parents have used it for years does not mean it will work for you!
  • Talk to an expert 
    • Reaching out or getting a financial adviser is a smart move to make. They can help you with things you do not understand. Assist with major financial decisions. As well as provide advice when you are unsure. 

 

Anytime I talk with people about money, finances, and savings so many people are uncomfortable because they don’t understand it. They feel embarrassed and because of that they don’t ask questions, or do research, or learn. This often leads to having issues with money. I know this firsthand because I was that person. And fu*ck I am still partly that person. I’m constantly trying to learn about things (refinance loans, crypto, NFT, etc.) 

 

Getting my money organized as I call it helped me feel more confident in my own money. It also gave me the push to learn more about what I spend my money on. As well as help me establish goals that I want to achieve in the long run (future homeowner). By no means am I an expert but I tried so many different things. From the apps, spreadsheets, budgets, dealing only with cash, and many other things none of it really helped. All because I failed to really organize where my money went and why it went to those places. 

 

No one should be afraid to ask questions especially when it comes to your own money. I know it is uncomfortable it’s awkward, and society shuns against it. However, fu*k society. You are doing this to better your future. To help you meet all your goals and not live paycheck to paycheck. You deserve this. Take this as a sign, from me your unofficial big sister. It is time to get your money organized, it’s time to learn, it’s time to make money moves. You got this we got this; we’re going to do it together. I believe in you. -Unofficial big sis KMH

 

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