Welcome to part 3 of Taming the Paper Clutter. In case you missed parts 1 and 2, you can catch up here:
Part 1: Set Up a Paper Inbox
Part 2: Process Paper Weekly
How did it go last week? Let us know how it went in the comments below.
Now that you have your paper inbox set up and you are taking weekly action on your papers, we’re going to work on setting up systems to save all the paper that needs saving once you have acted on it. To keep things manageable, we will be tackling one area at a time. This week, we will focus on finances and bill paying.
There really is no right or wrong way to set up your finance binder or file system, and there are many acceptable ways to do it. In my Finance Binder blog post, I walk you through in detail exactly how I’ve set up my system.
You are welcome to copy the system exactly, modify to suit your needs, or use a completely different system. The main thing you need to do is get a system set up that really works for you. If this task takes you longer than a week, that’s totally fine. Come back when you’re done, and the next part of the challenge will be waiting for you. Here are the main things your system needs:
- Step One: List all the bills you need to pay regularly.
- Step Two: Create a system to track which bills you’ve paid and which are outstanding.
- Step Three: Determine which bills you will be saving after you’ve paid them and which ones you’ll throw away. For the ones you save, determine where they go (a binder, a file folder, a bills paid bin, whatever works for you).
Here's a quick video about this task and how I set up my finance binder:
I’ve run across several other systems on the web that I’ll share with you for some added inspiration. Kalyn from Creative Savings shares her financial notebook. (Click the image to to go to the post.)
Abby from Just a Girl and Her Blog shares how she sets up her finance binder (and even includes some free printables):
Once you’ve completed this, leave a comment and let us know how it went. Also, let us know how last week’s task went. If you’re still struggling, leave a comment and we’ll try to help you.