Contents
- #1 Gather ALL your relevant documents
- #2 Order them by date starting with the most recent
- #3 Sort them in a way that works for you
- #4 File them and label the folders clearly
- #5 Keep a planner for logging your finances
- #6 Start a tracker for recurring payments and/or installments
- #7 Clear all unpaid bills as much as possible
- #8 Negotiate (or re-negotiate) payment schemes as needed
- #9 Set up a savings tracker
- #10 Track your expenditure
Sponsored Content 10 Ways to Get Your Finances in Order Before You Move
Moving is a massive undertaking which affects so many aspects of life in one fell swoop. At the same time, money management is difficult in itself. Managing bills can become even more frustrating with a move coming up over the horizon.
Moving can be expensive. It is important that your financial house is in order so that you know how much you can really afford for things like movers, truck rental or self-storage.
But you don’t have to fret! Follow these 10 tips to get your finances in order for greater peace of mind during a move. The following ten tips were provided by SpareFoot, the place to find the best deals on storage.
#1 Gather ALL your relevant documents
More often than not, your documents are all over the house and before you know it, you need them as proof of something or other. There really is no better time than to gather them from the dusty corners of your soon-to-be previous home and have them all organized. When the time comes to move, be sure to pack them all together in durable plastic tote or file box.
#2 Order them by date starting with the most recent
This organizes your documents into an understandable system that allows you to easily retrieve a record. It may be tedious, but it will be worth it.
#3 Sort them in a way that works for you
Some people like to keep their phone bills separate from their water and gas charges while others like to have their statements all together within the month. We recommend grouping them according to type such as banking statements, utilities, and the like so that they are easy to locate. Most importantly, do what makes sense for you and your lifestyle needs.
#4 File them and label the folders clearly
Get a bunch of ring binders, a hole puncher, some dividers (one for each month) and get to work filing your documents in your pre-defined groups above. Label the spines clearly with a marker with the year and contents. Keep up this practice as you move into your new home filing each new bill/document as it comes in and is paid. Also keep these folders in an easily accessible and visible place, like a dedicated cabinet or shelf, so that you do not end up back at square one a few months later.
#5 Keep a planner for logging your finances
You can use any notebook for this or even go digitally with note-taking and finance apps. Doing so will be valuable in the short term and the long run. If you are prone to missing due dates, go one step further and set up notifications on your phone to remind you to pay the bills five days before they are due.
#6 Start a tracker for recurring payments and/or installments
The bullet journaling community has plenty of nifty layouts on how to set this up. Primarily, this will help you keep track of when these bills recur and how much you need to ensure you have. With enough practice, setting aside the money beforehand and being able to clear your bills on time will be realistic and achievable.
#7 Clear all unpaid bills as much as possible
This cannot be emphasized any more greatly. The consequential improvement to your credit score will speak for itself. The more you can pay down, the easier it will be to obtain new services, a mortgage or a new rental once you move.
#8 Negotiate (or re-negotiate) payment schemes as needed
Understandably, not everyone is in the situation where they can clear all their current debts at the drop of a hat. Nonetheless, setting up structures that allow this to become more manageable is a worthy endeavor that anyone can and should at least attempt.
#9 Set up a savings tracker
A key part of getting your finances in order is to start saving. Once you’re done paying off your loans, you can start saving for the things you need and want. Especially with an impending move, it may also be helpful to track savings for related items such as moving services and new furnishings.
#10 Track your expenditure
Get into the habit of logging every expense daily. You can allocate 15 minutes at the end of each day to do this or take 30 seconds after making a purchase to record it down. Getting a receipt for every purchase makes this much easier. When moving, there will be confusion abound and you want to make sure that at least money-wise, you know where you put every penny. Apps like Foreceipt are incredibly helpful for this especially when used with budgeting apps like Well-Spent.
About the Author: Lori Dennis is an interior designer, environmentalist, entrepreneur, television and radio guest expert, best-selling author and lecturer.