Organizing Your Finances: How To Create Your Personal Finances Folder?

by Vinaya HS on July 19, 2010

in Finance

Thanks for visiting Capital Advisor. I frequently update this blog to cover various topics on personal finance such as investment strategies, financial products that you should buy and ones that you really should stay away from, financial calculators, emerging themes such as early retirement and financial independence, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

Each Monday morning, I plan to post my thoughts on Organizing Your Finances. Through this series, I hope to share a tip or two that address a common problem that many of us face in our daily lives — that of organizing our finances. I’d love to hear your thoughts on this initiative and would love it more if you could share a tip of your own. And, as always, do spread the word if you find this useful.

With D entering my life, I now see the need for creating our “Personal Finances Folder.” In this folder, I want to capture every aspect of our personal finances. Should anything happen, this should be our “Go To” folder. This far, we have kept our finances separate and therefore, to begin with, I want to capture my part of our personal finances in this folder.

Broadly speaking, I want to record information about our:

  • Assets
  • Liabilities
  • Insurances
  • Taxes
  • Financial Goals and
  • Personal Documents

As a first step, I bought one of these expanding folders — they’re perfect for capturing and consolidating your personal finances. I’m also using Google Docs to type-in the information and then printing it out for storing in the folder.

I plan to post each week on how I am tackling each of these categories. Stay tuned.

Now, how about you? Do you already have your Personal Finances Folder up and running? I’d love to hear from you.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 2 comments… read them below or add one }

ditchtheboss July 21, 2010 at 3:40 PM

Hi,
I always pay attention to my finances and for a long time now I track my finances using personal finances software. You can find these softwares even for free.

I encourage you to keep track of your finances and to learn the basics about accounting and financial management to support you in whatever it is that you want to achieve.

I have made a post on my blog about accounting basics. Have a look at it and let me know what you think: http://ditchtheboss.blogspot.com/2010/06/basic-accounting-principles-start-to.html
I will be cheking on how you are tracking on your plan.

All the best.

Shilpa July 22, 2010 at 11:35 AM

This is an excellent suggestion, Thanks

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