SMCU Money Matters - Fall 2007 - (Page 11)

chatzky Reduce, Reuse and Simplify “I go into hundreds of houses, and it always surprises me that people don’t see the connection between clutter and personal finance problems,” says Peter Walsh, the organizer on TLC’s Clean Sweep and author of It’s All Too Much: An Easy Plan for Living a Richer Life with Less Stuff (Free Press, 2006). Disorganization can lead to higher interest rates, bad credit, costly late fees — the list goes on. Getting organized will help you feel happier — both with your finances, and with your life. Here’s how to start: Bank online: It will change your life. It takes a little time to set up your account, but once you do it, you’ll save about two hours a month and untold dollars in stamps and in late fees. If you have bills with set amounts each month (think your mortgage or gym payment), schedule payments to go out regularly. With variable bills, log on and write out checks a week before they’re due. You can keep track of your spending this way, so you know how much money is coming in and going out. Cut the bargain shopping. “Getting a deal is so eminent in this country that people fill their homes with inexpensive stuff,” notes Walsh. “You can’t buy and buy, even in little increments, and not erode the total amount of money you have.” Launch a system. Create a place for your mail to hang out (for a day or two, no more) until you can take care of it. Then, get a twelve-month expandable file to hold bills after they’re paid. Keep your wallet and tote bag clear of clutter by saving receipts in a particular envelope or compartment, or even on an inexpensive accounting spike. At the end of the month, reconcile them with your financial institution or credit card statements and then shred them. Jean Chatzky serves as AOL’s official Money Coach. She is the personal finance editor for NBC’s “Today Show” and the author of four books. With reporting by Arielle McGowen. Clean Up Your Home Finance Environment By Jean Chatzky I often ask people what’s holding them back from handling their money effectively. One of the most frequent answers is disorganization. It makes sense. Clutter makes us feel out of control. How can you confront your finances when you can’t find your bank and credit card statements? How do you pay bills on time when you can’t locate them? FALL 07 11

Table of Contents Feed for the Digital Edition of SMCU Money Matters - Fall 2007

SMCU Money Matters - Fall 2007 Contents Community Connection Responsible and Beneficial e-Cycling Live a Greener Life! Motley Fool: Hybrid Cars Jean Chatzky: Reduce, Reuse and Simplify Green Investments It’s Easy Being Green

SMCU Money Matters - Fall 2007

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.