How to Organize Financial Mail

A messy financial system means lost money. One way to streamline your finances? Organize your financial mail. There's a reason for the ubiquitous "in" and "out" boxes in office cartoons. An "in" box is necessary to keep track of bills and other financial papers. And you'll also need a filing system to ensure that you can take advantage of any financial possibilities that come your way and avoid unnecessary penalties.

Instructions

Difficulty: Moderate

1. Set up an easy, uncomplicated folder system to categorize mail. You'll need a folder for bills (or possibly multiple folders by bill type) and another one for receipts and another for essential mail. Having a folder system will give you quick access to whatever information you're looking for later.
2. Keep your "out" box empty. One danger sign of a disorganized mail system is when the mail is not getting sent on time. Make sure you have enough postage on hand so that mail does not sit waiting to be sent.
3. Throw out stuff. Copies of bills and other unnecessary paperwork must be peeled away from the pile to make it easier to get to the real stuff. You may need to shred your trash due to sensitive information, but don't let that delay you. Get a shredding machine and go to work on piles of old, useless paperwork.
4. Take advantage of paperless bill pay systems and direct deposits. Much of the old paperwork of the late 20th century can now be done away with and replaced by tracking transactions of your bank's web site.
5. Put high priority items like rebates or limited time offers in a place where you will get to them first. Keeping up with rebates saves money and if you miss the window for these deals that money is gone forever.

Tips & Warnings

• Find your own system. What works for one person may not work for another. Think about how you want your financial system to look and how you will access it. If it seems too artificial, you'll shy away from it and put off necessary transactions. It might help to decorate your financial work space for comfort.