Be organised Be Successful

"Being organized isn’t about getting rid of everything you own or trying to become a different person: it’s about living the way you want to live, but better."

Andrew Mellen

There are many reasons to be organised about your financial life.Some of them include: To identify and plug minor leakage of money, i.e., those tiny debits of Rs. 50 which your bank charges for no reason or Rs.100 charged as late fee to your credit card bill even though you paid on time Financial documents of one-time investments done you such as LIC policy, stock purchase etc. Online login details to various financial portals such as LIC, mutual fund website, stock broker, online banking etc. Repository of all invoices, receiepts, tax slips, salary slips, bank statements etc.

Achieving financial success and stability requires being organized with money, which is not always easy. Here are a few tips to help you get started:

Organize Financial Documents

Considering the number of transactions we do on daily basis, and the products we buy, countless documents are being generated frequently. It is of utmost importance to categorize and file these documents so that they can be easily referred to when required. Additionally, after organizing these documents, the surplus and deficiencies in your financial life can easily be identified- for example - too many insurance policies, no house insurance, excessive electricity bills, etc.

The documents can be filed in any manner that seems to be convenient. However, for convenience, a reference worksheet has been provided with various categories that can be utilized.

DOWNLOAD SAMPLE WORKSHEET

Please note that this worksheet is indicative only and actual categories (or documents within) may vary from person to person. Therefore, feel free to modify it according to your requirement!