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Home » Home Organization » Money » Tax Prep » Seven Money Management Tips

Seven Money Management Tips

Last Modified: January 24, 2022 Sabrina Quairoli This blog uses cookies. It also has affiliate links. We earn sponsored content income.

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7 Money Management Tips | Sabrina's Organizing #money #management #tips
As this year begins, here are seven money management tips to help you get your personal finances in order and make this year your best!

Review & Create a Simple Budget

How much money do you make? How much is going out? Do you know? Try making a list of all your payee, instead of using the categories, then break down each by average monthly or fixed amounts. At the bottom, after you enter all your payee, Add up the outgoing amount and in a separate row, add up the incoming value. Do you have money left over? Maybe or Maybe Not? Try not to judge yourself. The point is to view the amounts and totals to help you get a realistic picture of your finances.

Use Bill Pay through Your Bank

Save money on stamps by using Bill Pay services. The bank usually provides this as a free service if you have a checking account. Place all your payee information in the Bill Pay site and do your bills from there. Try blocking out time to do bills once a week and set up automatic repayment through your bill payment if it is a monthly fixed amount.

Have a Paper Filing System

File papers in different folders in your filing cabinet near where you do your bills. Keep pay stubs, utility bills, canceled checks, any paid invoice you may need to reference in the future, credit card receipts, and bank statements in this area. Have a file for misc. bills for those random bills, however, only use this folder for those bills that do not have a folder.

Gather together your important documents

Gather together your life insurance policies, wills, mortgage documents, credit cards unused, credit reports, passports, old drivers licenses, etc.... and put them in a fire safe or safe deposit box for safe keeping.

Use a Personal Finance or Money Management software

Start using a money manager software like Quicken. This will help you truthful to yourself. Download your online accounts bank, credit, and investment accounts to your software. This will allow you to see the overall financial situation. Quicken Software to get your version.

Store Tax Related Paperwork Together

Set up a place for you to store your tax-related paperwork. Use an accordion folder and label the different tabs: Income: 1099 & W2, Deduction Mortgage interest, Medical, Rental property, Business Income and expenses, etc... and then keep it near your other personal receipts for easy access and filing.

Store receipts in one place

Divide a small 13 tab accordion folder into categories like Food/Groceries, Beauty/Cleaner, Clothing, Gas, Gifts, Dining Out, Household, Misc, Withdrawal/Deposit slips, Pet, Car Repairs, and Vacation. This will subdivide your receipts and will help you quickly retrieve any receipt.

Set up these seven money management tips at the beginning of the year and you will be able to manage your entire financial situation. By having a clear picture of your finances, it will help you watch your spending more carefully and see where you can save money. I hope this year brings you many wonderful memories and lots of happiness.


Please note these are affiliate links through Amazon, and at no additional cost to you, I will earn affiliate fees if you decide to make a purchase.

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About Sabrina Quairoli

I love sharing my passion for organizing life and the home. I hope you get inspired when visiting my home organizing tips, quick weeknight recipes, party planning ideas, and DIY organizing projects.

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  1. Dina

    January 27, 2013 at 8:12 am

    These are very useful financial management tips. Forming good money habits will help a lot to improve your financial stability.

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