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Organize Your Finances: Take Just One Step

Organize Your Finances: “Find One Step” Challenge

Credit Withdrawal, fresh off of a severe tagging by Mrs.Micah, just tagged me with the latest challenge that's running around the pf sphere:Find one step you can take to make your financial system better or more organized.”

I like the idea of this challenge because of how simple it is.  It's just one thing I have to do.  I spent the last couple of weeks sharing some things you can do to give yourself a mid-year financial check-up.  We covered a lot of material.  So this is just one thing.  Easy right?

My One Step In Organizing My Finances

I'll be honest with you, I stay on top of my finances pretty consistently.  Still, because we have so many accounts and goals, and because I sort of piece-meal the method (I don't use Quicken), it's hard to see the big picture.

I've decided to build a one-sheet, dashboard-style view of our finances.  It will have our personal income statement and balance sheet, as well as the account IDs and passwords associated with those accounts.  At the bottom of the page I'll place our financial goals. I”ve done something similar in the past with my 50+ Online Account IDs.

After I have this dashboard view built, I'm going to run a copy and place it in our safe.  This way, not only is it a quick reference but it's something my wife will have if something ever happens to me to help keep her on track with the finances.  As a way of holding myself accountable to the challenge, I promise to present my dashboard (without the actual numbers) for free download, here on the blog soon.

Now It's Your Turn To Organize Your Finances

I challenge all of you to take just one step. Leave a comment, write your own post (and tag others!), or just do it quietly on your own.  I'm going to tag the following pf bloggers to take part in the challenge: No Debt Plan, Think Your Way to Wealth, and Money Hacks.

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Last Edited: July 25, 2017 @ 6:25 pm
About Philip Taylor

Philip Taylor, aka "PT", is a former practicing CPA, blogger, podcaster, husband, and father of three. PT is also the founder and CEO of FinCon, the conference and community dedicated to helping other financial influencers and brands. He created this website back in 2007 to share his thoughts on money, hold himself accountable, and to meet others passionate about moving toward financial independence.

PT uses Personal Capital to keep track of his financial life. This free software allows him to review his net worth regularly, analyze his investments, and make decisions about his financial future.

PT keeps a portion of his emergency fund in Betterment, the automatic investing tool that makes investing super simple. Betterment focuses on what matters most: savings rate, time in the market, investing costs, and taxes. PT recommends this service to anyone looking to get started investing for themselves.

All the content on this blog is original and created or edited by PT.

Comments

  1. What a great idea! We have several accounts between us, so following your lead might help organize them.

  2. Frugal Vet Tech says:

    Great idea! Compiling all of our financial account info (and getting a safe to store it in) is one of those things on my “Things I really ought to do sometime” list. I’m looking forward to seeing your chart when you post it.

  3. RC@ThinkYourWayToWealth says:

    PT-Thanks for the tag! Hopefully I can use this as motivation!

  4. Mrs. Micah says:

    Very nice. I look forward to seeing what you come up with, maybe whether it would be useful for us as well.

    And thanks for playing along. I hoped that one step wouldn’t be overwhelming.