Chapter 3Chapter 3Money Money Management Management Strategy Strategy Section 3.1 Section 3.1

Organizing Financial Records Organizing Financial Records

Money ManagementMoney Management

Planning how to get the most from your Planning how to get the most from your money money

Good Money Management can help you Good Money Management can help you keep track of where your money goes so keep track of where your money goes so that you can help make it go fartherthat you can help make it go farther

Benefits of Organizing Benefits of Organizing Your Financial Your Financial DocumentsDocuments

Bank StatementsBank Statements Paycheck StubsPaycheck Stubs Receipts Receipts Car TitlesCar Titles Tax DocumentsTax Documents

Where to keep your Where to keep your financial documentsfinancial documents

Files at homeFiles at home ComputerComputer Safe deposit boxSafe deposit box

Home Files Home Files

Filing cabinet Filing cabinet BoxBox EnvelopesEnvelopes FoldersFolders

Do not keep hard to replace items such Do not keep hard to replace items such as a car title or mortgage papersas a car title or mortgage papers

Why?Why?

Safe-Deposit Box Safe-Deposit Box

Small storage compartment box that you rent Small storage compartment box that you rent from the bankfrom the bank

Items commonly kept in safe deposit boxes Items commonly kept in safe deposit boxes include birth certificates, adoption papers, include birth certificates, adoption papers, insurance polices, stocks, valuables insurance polices, stocks, valuables

Kept in a locked fire proof room at the bank Kept in a locked fire proof room at the bank and it is insured by the bankand it is insured by the bank

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Organizing your Organizing your documents can help you:documents can help you:

Plan and measure your financial Plan and measure your financial progress progress

Handle routine money matters, such as Handle routine money matters, such as paying bills on timepaying bills on time

Determine how much money you will Determine how much money you will have now and in the future have now and in the future

Make decisions about saving moneyMake decisions about saving money

Home Computers Home Computers

It is tough to store personal papers like It is tough to store personal papers like rental agreements or birth certificates in a rental agreements or birth certificates in a home computer home computer

But they can be helpful in storing But they can be helpful in storing financial records especially with financial records especially with programs designed to organize financial programs designed to organize financial information like Quicken.information like Quicken.