Wednesday, May 29, 2013

Budget View- Part 5.0- I certainly am in a bind(er) now!

If you have been following along we are now on Part 5 of the Budget View series.
If not, and you need or want to catch up, here are links to all the "parts":
Needs vs Wants7 reasons to have a budgetThe Emergency Fund, & The Freedom Account.

Every once in a while I will throw in a random money saving tip/idea that will be typically listed under the Budget View, like : Why I don't have a smart phone....right now.

But today I am going to try and explain the "system" I use to keep track of our finances.
As you can see from the title of my blog post is Part 5.0. Reason being, I don't want this post to get too long and obnoxious, so the binder system will come in Parts 5.0 and 5.1.

This is NOT a high tech system. This is a system that works for my family. It may or may not work for yours. If you implement it and it works GREAT! If not, please know that there are several "systems" to keep track of your finances and budgets out in the World Wide Web. My suggestion is to find one that works for you. I am not a professional anything, so please do not sue me if my tips and ideas do not meet your standards."

OK, let's get on with this, shall we?

Materials I use for the "system" :

One 2 inch ,3 ring binder. 
You can find these in a lot of stores. I got mine at Target or if you shop online check out The one I use has pockets on the front and back inside cover. This is where I tuck my bills until they are due.

1-3 sets of  tab pocket dividers. There are many different brands of these. 
The amount you will need depends on how many bills you pay.
You will have one divider per company.

1 package of sheet protectors. 
I keep my insurance policies in these at the back of the 3 ring binder.
This way I know exactly where they are if I need them in a hurry.
Again, you will find all different brands depending on the store you go to.

A highlighter. 
I use this to highlight the bills on my printable calender when I have paid a bill for the month.
Fine point Sharpie marker.
I use this to write the name of the company that I will be paying my bill to on the tab of the pocket dividers.
A fine point pen would work as well.

3 ring hole punch. 
I use this to punch holes in my bills after they have been paid so I can file them under the corresponding pocket divider. I also use it on my free printables(see below) so they fit correctly in my 3 ring binder. 
This way the 3 ring binder stays very organized and the papers are not just floating around.

I have found some awesome free printables on some very helpful websites.
FYI: I have not created these myself. That is way more high tech than I am at this moment.
Just click the links and it should lead you to a version you can print out for yourself to have in your own binder. The ones I use are:
#1- Annual Bill Schedule
#2-The Freedom Account Page - I posted about that here.
#3-Monthly Budget
#4-Monthly Calender
#5-Birthdays & Anniversaries
#6-User Names & Passwords

Part 5.0 is all about the Materials I use in the binder system. Part 5.1 will be how I set up & use the binder system.
It really is super easy! And Yes, I know there are computer systems that are probably just as easy to use that basically do the same thing, but for some reason keeping it to pen and paper seems to keep me extra organized. I am not a real "techie" person, so I like to keep it simple.

I hope you are finding some of my tips helpful. I learned a lot of this financial stuff by reading other blogs, books, and Facebook pages.
It's fun to share what seems to work for my family. Hey,who knows, maybe what I share will help at least one of you out in bloggyville.

Enjoy the View~

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