Simple Finances 101: Get Online and Clear Off that Desk Once and for All!

Your desk is buried under bills, credit card offers, checking and savings account statements, 401K or other investments, and you don't know where to begin. Your not sure whether the electric bill got paid or your 401K is doing good. Might be time for simple finances 101. Stop using up every spare moment you can find trying to clear the pile. This article will cover some easy steps that will help you get better organized with your financial life. These steps will help put your money matters in more of an autopilot mode. When you have implemented simple finances 101, you will have eliminated all that redundant paperwork and have consolidated the financial institutions you do business with. Plus your computer will be working for you instead of just taking up more space on the desk.

Direct Deposit- Sign up for direct deposit at work (both of you if married). Stop wasting your time driving to the bank. If you use one bank for checking and another for your savings or money market accounts, consider moving those accounts to one bank. There is no need to use more institutions then you need to. Learn to be efficient. Your time is valuable.

On-Line Banking- Sign up for on-line banking. It's a snap to do most all your banking from home anytime you want. You can move money from your checking account to your savings or money market account 24/7. Sign up for bill pay. Most banks won't charge you for it. Pay all your bills this way. You can schedule them to go out whenever you want. No more envelopes, no more stamps, no more filling out return addresses.

Consolidate Accounts- This includes investment accounts as well. The more accounts you have at the same institution, the less statements you will receive each month. Less paperwork to file and less paperwork to pile up on your desk.

On-Line Investment Tracking- If you have stocks or mutual funds, utilize tracking software via your computer to keep track of those investments. With these tools you can set them up to alert you when a stock hits a certain price. If your in the market, you have to have the ability to know what's going on at all times. Put your computer to work for you.

Consolidate Insurance Policies- Don't use separate insurance companies for your policies. If at all possible, use the same company for your car and homeowners insurance.

Unload Extra Credit Cards- Get rid of them emergency credit cards you never use. Not only will some companies start charging you an inactivity fee, it's another piece of financial mail finding its way to the desk.

Shred Those Unnecessary Documents- Are your one of those persons who saves every receipt and statement you get? By using Billpay to pay all your monthly bills, you no longer need to keep the monthly statements that come each month. You have all the proof available if needed with your on-line bank account. The only receipts worth keeping are those for big ticket items. Other than that, shred them. Only hold onto paperwork associated with the IRS. Even those items only need to be retained for a period of 3 years. Other than that, you will need to keep any contracts, lease agreements, mortgage paperwork etc.. Don't get bogged down with bankers boxes piled to the ceiling with documents you will probably never look at again. Remember, we are talking about simple finances 101!

Do Your Taxes On The Computer- If you do your own taxes, stop doing them the old fashioned way. Pick up a copy of Turbo Tax or TaxCut and do them on your computer. It will save you loads of time and eliminate more paperwork. When your done with your taxes, save a copy on a removable hard drive, or a zip drive. If you ever need a copy it will be easy enough to print one out. It would be a good idea to pick up a fire proof safe and keep your removable hard drive locked up inside. You could use a safe deposit box at the bank also.

Set Up a Will and Power of Attorney- Now that you have simplified and organized your financial life, make sure you keep it that way. Because none of us can predict the future, it is very important we take appropriate steps to ensure it will go as we want. Spend a few bucks with your lawyer and have a will and a durable power of attorney drawn up. You can place someone you trust in charge in the event your to ill or incapacitated. The last thing anybody needs is to work hard all their life just to have it all fall apart due to an unfortunate situation.

Put a little time into organizing your financial life. A little simple finances 101 and you'll be back to spending your spare time doing what you want again.