| April 22, 2013

Organizing your finances can simplify money management

Organization is important when building a solid financial profile.

Many people think that sufficient income and limited debt are the keys to a healthy financial picture, but individuals shouldn’t underestimate the importance of organization in a solid financial profile. While it may be difficult to see the positive results of a good filing system on a person’s overall fiscal health, a recent CNN Money article highlighted the ways in which this small step can have large money and credit benefits.

Citing the results of a recent poll, CNN Money reports that 25 percent of Americans have admitted to losing or forgetting about an important financial document, and only 40 percent expressed confidence at being able to locate a significant paperwork immediately. In addition to causing anxiety and frustration, tossing bills in a pile, failing to file bank statements and tossing mail from lenders without reading it can have disastrous consequences for a person’s bank account and credit score. For example, individuals who idly throw mail into a drawer may fail to see correspondence from service providers and lenders, ranging from opportunities to lower their bill to an overdue balance of which they were unaware. It’s also easy to get busy and forget about an impending bill due date, which can lead to late fees, penalties and potential credit score damage.

Organizing financial paperwork can make life easier

To avoid these harmful scenarios, consumers should take a day to compile all of their paperwork, both old and new, and go through it to weed out unneeded documents and file important information. Doing so can give individuals a great deal more control over their money dealings and ensure that not only are all payments submitted on time, but that they have an accurate picture of their financial standing.

When developing a keep and toss pile, consumers should know how long to keep certain documents. Old ATM receipts and deposit slips that have posted can be thrown away immediately, as well as old credit card statements that don’t include tax-related information, CNN Money reports. Some information that may be used for tax purposes should be kept for one year, such as pay stubs, medical bills that can be written off as a deduction and brokerage account statements. Lastly, there is data that individuals should keep for the long haul, including mortgage documents, retirement and insurance paperwork, property deeds and ownership papers.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive