SoBo Mama's Tips & Tricks











{March 5, 2013}   Household Binder: Section 8 – Money

Credit CardThis was the Money & Finance Divider.  I’m doing things differently this go-round, setting up a separate binder, but I’m glad to share how it was set up in the past.

 

One of the most important things in the Money & Finance section is that ugly B-word that so many people my age no longer believe in: BUDGET.  I used to keep both weekly and monthly budgets, along with a spending record.  Was it overkill?  A little.  Was it overwhelming?  Absolutely.  Now I keep a monthly budget and it is much easier to keep these days.  My snowball plan goes with the budget – I love love love watching bills shrink!

 

I also kept up with bills to pay in the binder.  I used pocket dividers labeled Week 1, Week 2, etc., and that is where the bills would live till they were paid.  Now I pay most bills electronically, and the pocket dividers are not as necessary as they were years ago.  I now envision a calendar to track bill paying.

 

Credit Card List:  OMG.  When Grizzly and I were early marrieds, I probably couldn’t have told you what credit cards we had.  We were living on credit, I think.  Years and a Dave Ramsey class later, we’re near the other end of the spectrum.  Thank goodness!  But we do still tote a little plastic.  A list of credit cards, the payment information, and maybe even photo copies (in case of a stolen or lost wallet) would be helpful.

 

I also kept a directory of utilities and subscriptions. I listed the service, our account number, and any relevant contact information for said service.  When we lived in NoBo, our electricity went out at least three times a month, and I was so happy to have a ready reference to call and report an outage!  While we don’t have that issue anymore, I don’t know that Grizzly would be able to change anything on our satellite account or water billing without asking me.  Which is part of why this list is a good idea.

 

Insurance information, a home inventory, and warranty information can be kept here.  Over the years, we’ve added life insurance and home owner’s insurance to top our vehicle insurance.  I also have a small policy through my workplace. So many times, when a spouse or parent passes away, people don’t know what insurances are out there on their loved one.   Having everything in one location aid the big guy in settling things should something ever happen to me.

 

Other things for this section might include:

 

  • Vehicle information: financing, insurance, maintenance.  The blue lemon has its own binder, due to excessive maintenance since it joined our family.
  • Safety Deposit/Fire Box inventories:  This one is necessary because nobody knows where I keep anything important.
  • Banking information:  I’ve always used multiple financial institutions, and keep a list of accounts, as well as statements, with the rest of my financial foo fa.

 

I like everything in one place, easily accessible.  What else should go in a money binder?

 

~ Katie

 

 

 

 

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