How to Keep Financial Records Organized

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The organization of financial records is best accomplished through the use of a manual folio system. Discover how to pay bills online as an alternative with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser Patrick Munro talking about how to keep financial records organized. It's important to keep your financial records in good shape because if you lose files, if you lose bills, resulting in a late on your credit bureau, that can be problematic and take months to fix. One of the best ways to use is a manual folio system. It's a book that has 31 days in it. You can take your bills once they come in and slide them into the various dates that would be approximately 10 days in advance of when the bill is actually due. This way you can sit down with your bills once a week on a regular basis just like having a workout and pay those bills, make sure they're put in the mail that day. Being organized to that level will definitely resolve in you having some benefits regarding that. Some people choose not the manual system but rather by paying their bills online. And in being that situation you can also get a way to track your bills. Be mindful though that hackers are out there looking for your identities so I tend to focus on the manual system more so. This is financial adviser Patrick Munro talking about how to keep your financial records organized.

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