Getting organised

To be in control of your money and finances, it helps to be organised. It doesn’t take long to set up a simple system. Here are a few tips to help get you started.

• Keep all your financial information – pay slips, bank statements, loan agreements, tax statements, hire purchase documents – in the same place, and sort them into categories.
• Keep your receipts, so you can figure out where your money is going. Have a look at what you’re spending your money on – even the small things can add up.
• Set up a bank account just for bills, so that there’s always money to pay them. Have a portion of your income transferred automatically into the “bills” account. That way, you won’t be tempted to spend it.
• Look at setting up regular, automatic bill payments. Most power companies, for example, allow you to pay a regular amount, and then send a bill for any outstanding amount. This can help you avoid an unexpectedly large bill, particularly in winter when power bills are higher. It will also ensure you don’t miss a payment and have to pay a late fee.
• Visit the Work and Income website and the Working for Families website to make sure you are getting any government assistance you are entitled to.
• Try to reduce the number of credit cards or store cards you have. They may appear to save you money through special offers, but chances are you’re paying extra in interest on your purchases.

The Sorted website has tools to help you organise your money. The My Plan pages can help you to keep track of your budget and goals.