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Spring Cleaning: Financial Organization Tips For The Home

April 4, 2018 As you work on getting your house and yard ready for spring, take the time to do the same with your finances. Now is as good a time as any to organize your records, throw away old paperwork and take a look at your finances to see how you can improve in 2018. Read on for four home organization tips to help you live your best financial life.

1. Schedule automatic bill payments

Consider setting up a bill payment schedule for expenses like heat, rent or mortgage and internet. Not only does this take one extra thing off your to-do list each month, but automatic payments can also help you avoid annoying late fees. Use a tool like Summit’s free online bill payer to make it even easier. For bills or products that you can’t pay automatically, try to stay more organized by using calendar reminders, or setting up transaction alerts for upcoming bills with Summit’s free tool.

2. Manage your records

When was the last time you organized your financial records? Give your desk drawer a little TLC by separating important documents into three piles – keep, recycle and copy. Any files that make it into the keep pile should be stored in a safe location that you can easily access. Past bill statements, instruction manuals for old products and receipts can all be placed in a pile to be recycled or shredded. Lastly, try to carve out a little time in your always busy day to make copies of important documents for safe keeping, or confirm the location of electronic copies so you can then shred the physical copies. Electronic copies are more versatile, but make sure you always back them up to an external hard drive or the cloud just in case. Not sure if you should be holding onto a financial document or throwing it away? The IRS recommends keeping tax documents and receipts for at least six years, or as long as you can be audited or held liable for them. Keep copies of your tax returns forever, as they can be useful in helping prepare for future tax returns and serve as proof that you filed taxes during those years. It’s also a good idea to hold onto copies of important documents like proof of insurance, lease or mortgage documents and medical records.  

3. Organize your mail

When you receive mail, consider separating it into piles such as documents that require further action, papers to shred and papers that can be recycled. By maintaining an organization system and storing everything in a consistent space, you’ll be less likely to misplace important documents in your home.

4. Monitor your financial activity

Check your billing statements periodically for suspicious activity. Financial institutions are better than ever at alerting customers to problematic activity. However, you are your own best resource when it comes to tracking your money. Keep tabs on your finances with a or with , or plan a date with yourself (and maybe a glass of wine!) to check in on your finances and review your budget to make sure it’s working as hard as it can. Got questions? Stop by or give us a call. We’re always happy to chat about savings, retirement, investments or anything else that’s on your mind. You might also be interested in Whew – what a journey! has officially come to a close, and these four teams have been impressive. And they’re leaving this program with less debt, mo Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. How can we help you avoid difficult money situations and put you in the best financial position for success? This question is at the heart of so many things we do here as your financial partner – including our decision to eliminate the non-sufficient funds (NSF) fee as of April 1. Are you struggling to come up with the perfect New Year’s resolution? Here are three great reasons why focusing on your finances should be a priority this year! It’s not every day that someone gives you hundreds, or maybe even thousands, of dollars for (seemingly) no reason. That’s what makes getting a tax return so exciting. So before that much-anticipated check arrives, stop and consider what you should do with your tax refund, as well as what you want to do. Simple, everyday choices can reduce consumption and our impact on the environment. Learn ways to be more eco-friendly…and your spending at the same time! Sometimes having a little extra cash is the only thing between you and your dreams. Check out these financial tips to be smart about borrowing money and avoid common mistakes. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA