Personal Finance Organizer


What I call joy! Having my personal finance organizer up to date every month and knowing where to find all my financial documentation and statements when I need them. I am aware of the importance of personal finance and I want to know where I am spending my money. I do not use personal finance programs when organizing computer files, just an Excel spreadsheet which I have customized.


Basic Computer Terms,How to be Organized,Tony Bastos

Your personal finance organizer is where you will store all your e-Documents concerning your day to day finances, your personal finance spreadsheets, your personal finance tax preparation, bank statements and all other e-documents dealing with personal finance.

Let us start organizing computer files into folders.

When you finish this section, you will have a similar tree to the one shown in the graphic below.

Personal Finance Organizer - Tony Bastos


1.

Start out by creating the main folder as a branch of “YOU”.

Call it “Private FINANCES”.

2.

Accounts

Create a folder as a branch of “Private FINANCES” and name it “Accounts”.

This is where you will save all your documentation relating to each of your accounts.

Make a folder for each of your accounts, as follows:

2a.

Create a folder as a sub-branch of “Accounts” and give it the name of the institution with whom you have the first account. I have simply called it “Shop Name”.

It is here where all the e Documentation relating to your account with Shop Name will be stored.

Go ahead and create additional folders for each of your accounts as you did above for “Shop Name”.


3.

Banking

Create a folder as a branch of “Private FINANCES” and name it “Banking”.

This is where you will save all your documentation pertaining to each of your bank accounts.

3a.

Next create a folder as a sub-branch of “Banking” with the name of your bank. My Bank is called “Bank Name A”.

3b.

Now, go ahead and create two folders of “Bank Name A”. One called “Correspondence” and the second named “Statements”.

As the names suggest all e Documentation from and to “Bank Name A” will be stored under correspondence. Should you receive hardcopies from your bank, scan them and save in your personal finance organizer under YOU/Private FINANCES/Banking/Bank Name A/Correspondence.

Next you will create a folder as a sub-branch of “Bank Name A” where you will store all your account statements. Each folder will cover the twelve months of your tax year. Filing statements into their corresponding tax year will make it easier when performing your personal finance tax preparation each year.

3b-1.

So, create a folder as a sub-branch of “Statements” and call it “2011-2012 Current Account”. My tax year runs from the 1st of March till the last day of February the following year. So in my case I will store all twelve of my current account bank statements from March 2011 till and including February 2012 in this folder.

3b-2.

If you have a savings account as well, as I do, then go ahead and create a second folder as a sub-branch of “Statements” and call it “2011-2012 Savings Account”.

Do this for each of your accounts at this bank.

If you have accounts at two or more banks then go ahead and create sub-folders for each of your banks as you did above for “Bank Name A” from step 3b.

4.

Income Tax

This folder in your personal finance organizer is where you will save your personal finance spreadsheets. Go ahead and create a new folder as a sub-branch of “Private FINANCES”.

Name it “Income Tax”.

4a.

Next we will create two folders one each finance year, both as sub-branches of “Income Tax”.

4a-1.

The first we will call “2010-2011 Tax Year”.

You will save your personal finance spreadsheet for tax year 2010-2011 in this folder. I call my spreadsheet “2010-2011 Income and Expenses”.

Personal Finance Organizer - Tony Bastos


4a-2.

The second will be called “2011-2012 Tax Year”.

You will save your personal finance spreadsheet for tax year 2011-2012 in this folder.

4c.

Create a folder as a sub-branch of each 4a-1 and 4a-2 called “Correspondence”.

It is here where you will also be saving all the e Correspondence between you, your tax advisor (if you use one) and your income revenue services office.

Next you might want to have a folder where you will save all e documents relating with your other investments.

5.

Investments

You know! Create a folder as a sub-branch of “Private FINANCES” and call it “Investments”.

5a.

You might have shares for example.

If so then the next folder that you create is a sub-branch of “Investments” and you will call it “Shares”.

Go ahead and create additional folders that best reflect your personal finance organizer.



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