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“As The World Turns”
By jmh | January 13, 2006
Are you as astonished as I am that another year has gone by? Invariably a part of me feels nostalgic about time gone, about missed opportunities to be, do and have … And yet, there is another part of me feeling excitement about the possibilities new beginnings can bring.
Winter seems a perfect time to reflect, to go within. To take stock of where we are and where we want to go. What it is that we want to accomplish and what it is we need to do to get there. Whether it is the proverbial 5/10/plus pounds we all want to lose after the holidays, the resolution to exercise and take care of our health, or the desire to improve our financial life. All begins with the decision to make a change, followed by a plan to get us to our destination.
Here are some simple steps to get you started on the path to improving your financial life:
1. Clear out any clutter that may be in your physical space: from the closet, desk, wallet, purse, car, garage and house. Cluttered spaces rob us of focus. They take attention from the things we need to do. From an energetic perspective clutter creates stagnation, weighs us down and prevents new energy from flowing to us. Clear it out and make room for new things to enter your life!
2. Get organized! Spend time and sort through all your important papers. Yes, that includes financial papers! Remove and shred documents no longer needed. Move documents you need to keep for taxes (or other reasons) to long term storage.
3. Design and/or redesign your personal filing system. Going through the letters of the alphabet, create folders for:
a. Automobile: maintenance, memberships, etc.
b. Bank Accounts; one folder per account
c. Bills: one folder per category
d. Credit Bureau File
e. Credit Cards (receipts, statements, bills, etc.) – one folder per card.
f. Education
g. Employment
h. Home
i. Insurance: health, car, house, umbrella, etc. One folder per insurance policy.
j. Investment accounts: one folder per account
k. Legal: your will, power of attorney, etc.
l. Receipts
m. Taxes: tax deductible receipts, etc.
n. Utilities
o. Etc.
Your filing system should be straight forward and simple to use. Set it up so that no duplicate filings are likely to occur. Your system should be one that is conducive to filing papers as they come in. Make a commitment to stay on top and to keep up with your financial papers. Over time your financial life will become easier to manage and will leave you feeling in control.
Now, spend some time and dream about your future. What is it that you want? Why do you want it? What price are you willing to pay to get it? (There IS a price!). How are you going to get there? Set goals in a number of areas of your life (i.e. financial, health, personal, career, social).
Take the time to set your goals and your dreams are yours for the taking!
To your happiness, health and wealth!
Johanna Hofmann, MBA
Topics: Taxes, My Financial IQ |
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