Chapter 3 Money Management Strategy Section 3.1 Organizing Financial Records
Money Management Planning how to get the most from your money Good Money Management can help you keep track of where your money goes so that you can help make it go farther
Benefits of Organizing Your Financial Documents Bank Statements Paycheck Stubs Receipts Car Titles Tax Documents
Where to keep your financial documents Files at home Computer Safe deposit box
Home Files Filing cabinet Box Envelopes Folders Do not keep hard to replace items such as a car title or mortgage papers Why?
Safe-Deposit Box Small storage compartment box that you rent from the bank Items commonly kept in safe deposit boxes include birth certificates, adoption papers, insurance polices, stocks, valuables Kept in a locked fire proof room at the bank and it is insured by the bank Zh8 Zh8 Zh8
Organizing your documents can help you: Plan and measure your financial progress Handle routine money matters, such as paying bills on time Determine how much money you will have now and in the future Make decisions about saving money
Home Computers It is tough to store personal papers like rental agreements or birth certificates in a home computer But they can be helpful in storing financial records especially with programs designed to organize financial information like Quicken.