Ask the Readers: How Do You Organize Your Account Information?

Seconding Mint for monthly finances and budgeting—especially now that their extended features (deals, asset tracking, etc.) have gone live. You can’t beat it for big picture stuff.

For paycheck-to-paycheck tracking, I used to use a spreadsheet to weigh incoming pay versus outgoing expenses; however, I’ve been able to stick to the budget recently, so I need this sheet much less.

My advice is to move recurring expenditures to the front of your budget and “luxury” purchases to the day before your next paycheck, so you have an idea of how much you spend and how much you can sock away.

Once you get good at sticking to your budget and getting surplus, the next step is to rework your budget to tuck away some of that surplus in investments and/or savings!

I have been using a small software tool called eWallet by Ilium Software. It is inexpensive and allows you to track all of your personal info, such as bank accounts, investment aqccounts, asset information, internet passwords, etc. It is encrypted and password protected. You can even install and sync with your mobile devices

I use Microsoft Money. All of my account numbers are kept within. However, for hubby’s benefit (I handle the finances), I created a listing of all of our accounts along with account numbers. In addition, I listed how/when the bills were paid (i.e. auto-debited from bank acct vs automatically on credit card vs manually via the bank’s bill pay) and online login/password.

I have one alphabetical filing system with folders for each account, and I have the folders color-coded in green so I could remove them easily for safekeeping if I were having work done on the house or something. I have one folder labeled “Emergency,” which is red, with all the accounts listed along with other information my family would need if anything happened to me, and I have told my brother about it. That folder contains information like all the scheduled deductions from my credit card. I need to make a duplicate of it and put it in the safe deposit box as well (which I share with my parents and brother, as joint tenants with right of survivorship).

I have the Mint app on my iphone. It’s the perfect way to get a snapshot of everything going on in my finances.

I strongly encourage anyone with an iphone to get this app, there is nothing out there that can do this so quickly.

We use Mint. I like it a lot except that I can’t connect a credit union account that I have with it yet.

I use SplashID from http://www.splashdata.com to keep track of all my account #’s, logins, passwords and even all my website logins and passwords. There is a desktop program that syncs to my blackberry. LOVE.

Mint.com.

I use a custom MS Access database, because I can lock it with a password. I track full account numbers (which your credit report will NOT give you), dates the payments are due, customer service contact numbers, websites with login names and passwords…everything that my husband would need to know in case I didn’t come home one day. (I track all our finances and have most of this info in my head).

I include all our bank, credit, mortgage, car loan, and online shopping accounts.

I update it quarterly, and back it up to 2 computers. I also print out a copy and store it in our “grab and run” folder (with our passports and other vital documents). I do NOT put it anywhere obvious on “the net”, because someone could literally take over my life with this file.

Also, make sure your banks know who your accounts should be turned over to in the event of your death. Filling out a simple form now will save much trouble later!

Some of you have touched on this, but what do you do when it comes to information other that online usernames and passwords? Sometimes a piece of information is essential to know, but it’s something I don’t even remember existed. In case of emergency, I want my husband to be as fully equipped to deal with something as I am (I handle most of the finances).

For instance, my husband and I have one joint credit card. They will only talk to us if we give them our password, which they don’t have any “hints” for like they do online. There’s no way my husband would have figured it out on his own if he called. I did remember it and have changed it to something he can remember.

It makes me wonder what other important missing pieces are lurking out there.

I keep paper records (many of which are duplicated online). But one reason I like paper is I can find a needle in a haystack a lot quicker than when I have to search through my online records. This helps a lot at tax season.

I have a notebook for each bank I bank with (currently 3 banks because of the 2 mortgages I have). I keep monthly reports in there up to 7 years. I use a colored sheet of paper to separate the years for easier searching.

I also keep a notebook for each brokerage account I have, including retirement accounts. Currently that’s 7 (2 Roths, a 401k, 2 457b, 2 taxable accounts). I keep quarterly and annual records in these. Obviously I need to do some concolidation on those retirement accounts cause only 1 is still receiving contributions.

I like the paper records. Somehow its suits my searching needs better. It’s also a backup system if my computer is down, the site is down, or the power is out.

ms access database. you can pump in tons of data and run reports regularly. i do the budgeting and forecasting in excel. i create a folder for each account and copies of statements and other documents are scanned and saved into them. back-ups to a second drive are made weekly, and burned to a dvd-r yearly. i use something like truecrypt for security purposes.

I’m also a proponent for the KISS method. I have one bank account and one ING account. I use a program I got from youneedabudget.com to separate all my money out, so I have no need for extra accounts. I can have it all lumped together in one account, but in my budget it’s all separate. For instance right now I have $750 set aside for medical expenses (this is our yearly max), so even though this is sitting in the same bank account as my grocery money, it never gets spent for anything but medical because that’s what I have deemed it for. My ING account is my emergency fund and new car fund. I don’t keep track of it, I throw money in it from each paycheck and just let it build up until someday when I need it. So keeping track of the information I need is easy because it’s essentially only 2 accounts.

I would personally never store all my account information in one place. I have a folder of bookmarks that have a link to the login page for all the accounts I have (credit cards, bills, bank accounts), so if something were to happen to me someone could see what I had, but they would have to go to each place to get account information. Personally I think this is the safest way to handle it, I would NEVER want someone to stumble across all my account information in one place. And you can never be too safe these days, especially with the number of times I have had to have my bank card changed due to companies getting their information “lost.” I would never trust any online source, word document, or even a scrap of paper in a in my house to be safe.

Rachel

If you have an account with Fidelity Investments, they have a feature called “Full View” that lets you enter all your account numbers. It displays a full spreadsheet with each of your accounts, and it automatically checks the accounts periodically to update information the information.

I think this is along the same lines as the Mint thing earlier commenters talked about.

I have recently opened an HSBC online savings account and I can connect to bank accounts and investment accounts through there. For account number and passwords I just use a spreadsheet.

My husband and I have a sturdy fireproof box which has separate folders for Banking, Retirement Accounts, Taxes and Credit Cards. We also have online access to all our accounts, so we can track things day to day.

Also, if Meghan wants access to her husband’s accounts (and visa versa) they can draw up Power of Attorney. A PoA was a big help when I had to close one of my husband’s accounts after his account information was compromised (he was deployed at the time).

Go paperless with all accounts. Then when you need something, just print it out.

I then store the passwords and personal information from my fiancee and I on Keepass.

http://keepass.info/

I have the answer here:

1) Financial Planner Organizer Kit by Homefile.net

2) File Security Box by Vaultz or any type of portable filing cabinet

3) Scanner

4) Flash Drive

5) An Organized State-of-Mind

I currently use Yodlee simply because it allows me to track not only bank accounts but also links up to my utilities and credit cards. Mint tracks bank accounts and credit cards and am a much bigger fan of their visual appeal but for the sake of having all of my utilities (Comcast, Netflix, etc) linked as well creates a one-stop shop and I love it!

I also follow the KISS principle. Few accounts makes it much easier. We use ING which helps even more!

My tips: I recommend getting online banking for all the accounts that you can – it’s accessible anywhere and the info is all right there. Sign up to receive your statements online too – it’s harder for identity thieves to get your account numbers, and you can’t lose electronic info.

Rethink your accounts. Dig thru whatever files you have lying around, and decide whether you want to keep them, or maybe stick with one bank and open new accounts online. It may be a hassle, but being organized definitely has its advantages.

I put all my banking stuff (like things the banks send me) into one of those multi-pocket folders. I’m young and I started out always having online banking, and don’t have too many accounts open, so it isn’t too hard for me to keep track of what I have.

Your credit report is a good place to find out about credit info, but it won’t list bank account numbers, and often credit card/loan numbers are partially starred out – like 1233 1234 4567 **** for your protection.

Another good thing to do is have your bank and credit card company phone numbers saved in your cell phone, and another list handy just in case your wallet is stolen, or some other emergency crops up.

I use GNUCash to track my accounts and investments, I put account numbers and routing numbers in the comments fields for each account so I know where they are, I also keep a folder in my filing cabinet with all pertinent account numbers, in the even of the unthinkable it will be that much easier for my family to find what they need.

Like dieting, there isn’t a right way. It’s “the” way that will work for you.
Before online became vogue, my husband and I used a paperbook ledger system. Over the course of our marriage, I have tried to move him to online with great resistance. While I have secretly hated that ledger, it has kept us more than solvent and (for whatever reason this is comforting to him) he can track what our expenses were in 1974 when we were married without the aid of a computer.

We also have cashflow spreadsheets which track income and expenses. I would say we have done exceptionally well with fixed expenses and room for improvement on discretionary funds. I can see good reason for a central location of many financial things we have in place.

One thing that has also helped us is a notebook–not one that details where all of our financial items are–but one that served to remind us of “why we did what we did when we did it.” I got this idea from a book by Jane Bryant Quinn called, “Smart and Simple Financial Strategies for Busy People.” One of the best things we ever did.

Since I handle the finances, I have a “Doomsday” spreadsheet with all our account numbers, websites, and login ID and passwords on them in case something happens to me. There is also a comment for each on how to access the money – check, bank transfer, etc. It’s in our safe at home, but I’m thinking about getting a safe deposit box at a bank for that and some other things just in case.

Don’t even bother with Quicken or Microsoft Money. I use Yodlee, but Yodlee or Mint are probably the best choices. Mint apparently is using Yodlee’s system, and is slower to incorporate updates but has a nice GUI and a web 2.0 feel. Yodlee has more capabilities in linking accounts such as reward accounts, your email, and can track bills (but apparently is uglier). Yodlee, does the security for BoFA and other banking companies so you can trust that your passwords are just as safe with Yodlee as your money is with BoFA.

Because I finally took to doing all bill payments and financial work online, I do one thing now on my computer: I maintain one ongoing list of Account Name, User Name, Password, URL, and Account Number; much like Anne and Kevin have commented they do. Periodically, I print a copy and keep in one file. In the event of fire/computer crash, it is the one file I will grab. Other than that, I am over doing long spreadsheets, constant updates, stuffing files, and so forth.

Paperless is nice – until you are hit by 3 hurricanes in 14 months. Like #39 Sheri, we keep our account and contact info on paper in a special spot. When we evac, the first thing that gets packed is those records.

It also includes utility and insurance information, too.