Here’s another reason to track every penny you spend: When the world gets crazy and you find that your weekly financial session slips by, and then so does a second week, you still don’t fall behind. In my case, it’s been three weeks since I’ve had the time to reconcile my accounts. But because I have a system in place that keeps the information organized, it only took me about an hour to sort out the mess. Not bad.
I also took time this morning to gather my tax documents. I think I have everything, so Kris and I are meeting with our accountant this afternoon. But I’m sure, as happens every year, he’ll call to ask why we don’t have Document X or Receipt Z.
It’s nice outside, so later today we’ll do some work in the garden! Meanwhile, however, here’s some other personal finance information from around the web:
I’m a huge supporter of personal entrepreneurship. I think it’s something that everyone with the inclination should pursue. But owning your own business isn’t for everybody. JLP at All Financial Matters recently shared 9 things to think about before starting a business. I think this is a good introspective checklist for those who think this might be an option.
This Monday, I’ll be a guest on Frugal Coast2Coast, the BlogTalkRadio program:
It’s all well and good to talk about simple ways to save money and live within your budget-but what about when that isn’t enough. What about when you are deep in debt and can’t see the way out? Jenn of Frugal Upstate and Lynnae of Being Frugal.net talk with J.D. of Get Rich Slowly about how he overcame $35,000 of debt, his 12 Key Tenets of his “Get Rich Slowly” philosophy, and how anyone can start getting control of their finances and work their way out of debt.
We’ll be recording the show on Monday at 5:30pm Pacific. You’re welcome to listen live, and to join the discussion by phoning 646.716.5529. I’d love to chat with you!
Next up, Trent at The Simple Dollar has some advice on investing with minimal risk. The current economy has shaken many people. They’re realizing their risk tolerance isn’t what they thought it was. Some folks find that they want to invest with no risk at all. I like Trent’s roundup because it includes one of my favorite pieces of advice: the best investment you can make is in yourself.
Finally, Henry at the Christian Finance Blog is holing a Presidential giveaway. He has a pool of prizes to send to a few lucky commenters. All you have to do to enter is tell him your all-time favorite U.S. President and explain why.
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“…reconcile my accounts”
I’m not really sure what this means. That seems to imply it’s something I don’t do, and since I don’t seem to be feeling any ill effects from not doing it, I’m wondering why it seems so important to you.
Unless I do the same thing but think of it in other terms than “reconciling my accounts”.
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Tyler, by “reconcile my account” I mean make sure that my Quicken and QuickBooks balances match the banks and credit card companies. When I “do my finances”, I sit at the computer, enter all of my receipts and statements, and then compare to online information. Ideally, I do this right along. At a minimum, I do it once a week. But lately, it’s been more like once a month, and it’s a headache.
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Yeah, I agree that the longer you take from the time the expense came in to the time you reconcile your accounts (or do your taxes or to file anything), the harder it takes.
But then again, there are more interesting to do then to file stuff right. That why most people procrastinate
. Even the experts.
While I do have a filing system of sorts, I too fall prey to this “disease”
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Ah, yeah, I don’t do that. I don’t keep expected account balances anywhere other than on my bank’s website, so there’s nothing to reconcile. If I want to know how much money is in an account, I log into my bank’s website and check there.
The bank keeps track of this information for me, and I don’t have any compelling reason to spend time duplicating their work.
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Hey J.D., thanks for linking to my Presidential Giveaway! Good luck to everyone!
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i had a similar quote framed in the office:
“if you don’t invest in yourself, who will?”
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