When did I buy that?

Knowing the date you bought something can be very helpful. If you are reselling something, the person buying it will want to know how old it is. If something breaks, you need to know if the warranty is still good. So how can you keep your purchase dates organized so you can find out when you bought something?

Keep a list to track the purchase dates:
You could do something as simple as keep a file folder or box where you stick all your receipts. That will work, but it can take some time wading through them when you want to find a particular receipt. Chances are you will not want to take the time to look through them all when you need one. And the receipt might not be readable when you do find it. Some receipts, especially those printed on thermal paper, can fade with time or the printing can get smeared so you can no longer read the dates. It is best to keep a list of items and purchase dates. That way all dates are in the same place and you can find them easily.

Using a spreadsheet:
If you have read some of my other organizational tips, by now you know I am a big fan of spreadsheets. So I keep my list of purchase dates on spreadsheets. I have a spreadsheet for personal purchases, and one for work purchases. In those spreadsheets, I have several columns to track specific information (these columns could be used on the top of a piece of paper as well if you don't like using spreadsheets):

Item ----- Purchase Date ----- Cost ----- Where purchased ----- Warranty period.

Enter information immediately:
Whether you use a spreadsheet, or list the information on a piece of paper, be sure to enter the information as soon as you can. Put the receipt by your file cabinet or computer as a reminder so you remember to enter the information you need. If you leave the receipt in the sack, it will get thrown out. If you lay it aside it will get lost in the midst of other papers. Put it someplace where it won't get lost and will be a reminder to get the information on your list. I have a small letter holder by my computer where I put information I need to enter. That way I notice it the next time I am at my computer so I get it entered and filed away.

Save those receipts and warranties:
As soon as you have listed the information, be sure to put the receipts and warranties in a safe place. They can simply go in a file where you can find them if you need them. Or use a box labeled "Receipts." If you have a lot of receipts, you can split them up into alphabetical files, or by year. Do what will work best for you. Wherever you put them, be sure to put them all the same place. Then there is only one place to look when you need one.

Preventive medicine:
You may think you will never need a receipt or a purchase date. But this simple organizational technique used as preventive medicine can save a lot of time and frustration in the future. It doesn't take much time. Spending a little time now can save a lot of time, frustration, and perhaps some dollars later when you can look and see, "Aha! The warranty is still good!"

3-Step Organizational Plan to manage your money - Part 2

In Part 1, I outlined 3 steps we use to organize our budget.

1. List your income
2. List your bills
3. Subract for spendable cash.

In this post, I want to expand on those three steps. I thought I had this post done earlier. But I showed it to my wife who has successfully explained our system to several people and she gave me the equivalent of a kiss, or K.I.S.S. (Keep is Simple Stupid) So I'll try again.

My net income is the same every week. Net income is what you need to consider. Include child support, Social Security checks, Pension, or any other income you might have after taxes. If you have more than one income, include them all.

So I list my net income. However, every other paycheck I might get a bonus. Since the bonus is not guaranteed, we do not count that in our income to apply to our monthly bills. If there is a bonus, it is exactly that, a bonus. We are just that much ahead. But if I don't get a bonus, we aren't cutting ourselves short because we were not planning on that for our budgeting purposes. So my income is simply listed in two columns for the 1st and 15th because that is when we pay our bills. Then we list our expenses under those two columns. On the 1st we list the bills that we need to pay before the 15th paycheck will get deposited. Under the 15th we list all the bills that are due before the 1st of the month paycheck will get deposited. Then all we need to do is subtract to find what spendable cash we have left for that two week period.

When you are done, it may look something like this:

Income: 1st of Month _____________ _______________

Bills: 1st of Month
Rent or house payment______________
Credit Cards______________________
Groceries________________________
Gas (Cars)_______________________
Cell Phone_______________________
Savings_________________________
Total Bills: _____________________ _______________

Spendable Cash: ________________ _______________
==================================

Income: 15th of Month ___________ _______________

Bills: 15th of Month
Car Payment ____________________
Groceries _______________________
Gas (Cars) ______________________
Utilities ________________________
Savings ________________________
Total Bills: ____________________ _______________

Spendable Cash: _______________ _______________

It is quite simple. When you deduct total bills from net income, what you have left is spendable cash. If there is no spendable cash left, obviously you need to lower your bills or raise your income. Looking at your finances this way gives you a quick look at where you are. Whenever your income or a bill changes, it is easy to update the chart and you know again exactly where you stand. You can write this chart on a piece of paper, or create a Excel spreadsheet. The important thing is to do it. Happy spending!