Welcome to Day 9 of the Financial Freedom Challenge! I hope with all my heart that you are enjoying this project and that you have reached this point. I tried to make every day step not too difficult. As I said many times each step is important, but I firmly believe that achieving them all can change our (financial) lives. So try to be consistent and reach the end of this challenge!
I hope that today (or this week) you have enough time to dedicate to this step because you will need a little bit of time. But if you do it correctly it will make you save a huge amount of time in the future.
Today we’re going to organize our Financial Life. Are you ready?
What’s today’s task?
Today’s task is a to-do-list. Our goal for today is starting to completely renew and organize our financial life. We’ll see a list of things that you have to put in practice as soon as possible. I suggest you to complete all the tasks in a maximum of one week. If you need help, I’m here.
- Set up a filing system – Create a new folder on your PC and call it something like “Financial Things” or whatever you like. Open it and create sub-folders dedicated to bank accounts, insurance policies, debt, personal household, retirement, taxes, investments. Create the ones you need and use them to store all the material related to that particular topic. I suggest you to always have a copy of this folder on an external HD or in the Cloud.
- Limit the number of cards – As I wrote in Day 5 the fewer cards we have the better. Think about your debit/credit cards: do you need all of them? If the answer is no, eliminate those you don’t need or use less.
- Simplify your accounts – During these first days, we have highlighted our financial situation. If you have noticed that you can simplify it in some way, do it now. Two bank accounts are enough: consolidate them and use fewer accounts.
- Automate monthly payments when possible – Set up automatic payments for recurring expenses. By doing so you will save time in the future and you will never forget a payment.
- Keep bills in one place – This is simple. Keep your physical bills in one place all together. So when you need to look for a bill you will save a lot of time.
- Keep your financial accounts organized – Nowadays we all have countless accounts related to our financial life: bank accounts, investments, retirement accounts and so on. Keep them well organized.
Take the time you need (but not too much) to achieve these improvements to your financial life, one step at a time. They are very significant and will affect your future life. I think organization is very important in life, especially as regards the economic aspect.
A brief summary of today’s task of the Financial Freedom Challenge
- Read the list above
- Put in practice one step at a time
- Take a maximum of one week to put them in practice
I love being organized and therefore it is easy for me to do these things. I did all of them even before starting my adventure on this blog so I’m advantaged.
This was Day 9 of the Financial Freedom Challenge. I know it can appear overwhelming, but I assure you that it is not. Just do one step at a time. Take this step seriously because it’s very important for your future. If you have any questions about this challenge, write a comment and I’ll be glad to answer you 🙂
Were you already doing one of the things written above? Do you think they are useful for improving your financial life? Share in the comments your opinion about this step. 🙂
Come back tomorrow for Day 10. I’ll be here for you! Remember to follow us on Facebook and Instagram! Share this challenge on your social media: this will keep you motivated during the path, trust me 🙂 If you want direct contact with me (answers, discussions, doubts, advice…) and the other participants, join our Telegram groups (ENG Group, ITA Group).
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