Not enough said with our daily life when it comes to organization. To get to a place where we can eat right; exercise regularly; prepare and have a financial readiness plan (for now and our final obligations, if it’s God’s will); spend quality time with love ones; daily reading (Bible, Motivation, Financial, Travel, etc.); defend Mother Earth; or just take a simple get-a-way to endure moments of a positive thought — all require some type of organization.
In the spring newsletter, I spoke of approaches to stay in order in “Organize That” by: 1) Understand your values, 2) Be Realistic, 3) Plan Ahead, 4) Know the “Pros” and “Cons”, 5) Follow and track your progress, and 6) Keep Trying.
As a financial auditor for many years, I have learned and advised that staying organized is the key to personal, business and family success. A lifestyle system of daily organized procedures is the best way to avoid costly and unnecessary professional fees. In general, the approaches in “Organize That” are the same here but, let’s talk about the importance of having a financial readiness plan in which I see in many cases are either missed, or delayed too often. This holds true for personal, business and individuals who are charged with the financial responsibilities of large organizations.
For example, with this age of technology, we are required to have a password for just about every financial account, secured information or sensitive work related documentation. Therefore, when people don’t think about financial readiness or don’t have a plan in place for a set-back, this could cause much more, or even a lasting harm in the event of a loss of a family member, business partner; or any other event that may remove someone important from the process or work knowledge situation that they have. Usually, when this happens you may hear: “I think they wanted to leave….”, “I remember once they said….”, or “I’m almost sure he wanted….” comments are the only source of information left to go with. So, I suggest thinking about a quick link of information like a financial planning readiness plan that is known to your spouse, or love one who will be selected to handle your business should something happen to you. This can be done by yourself but, you may want to consult your financial planner and/or tax preparer to keep them up to date.
A quick home or business file system that should be kept up to date, should include files (alphabetically) like: Auto, Bank Accounts, Charities, Employment, Expenses, Insurances-Autos, Insurances-Health & Disability, Insurance-Home & Property, Insurance–Life & Annuity, Medical Records, Passwords, Personal, Real Estate, Residence, Retirement Savings, Schools, Self-Employment, Social Security, Taxes, Warranties, Wills & Trusts. I also suggest keeping a find index up front that would list items and where they are, such as: Accounting/taxes fees (Expense file), Personal Banking (Bank Accounts), Business Banking (Self-Employed File); Church Donations (Charities File), Deed (Real Estate File), etc. Also, on important file passwords: Place all passwords in one file. This could be a computer file or a manual file, but I do suggest having at least a hard copy even if there is a computer file.
This well put together system can be done with your spouse and children, or business partner, to have a good under- standing on the what, the where and how stuff is to be carried out should something happen.
As a former President Jimmy Carter would say: “We should live our lives as though Christ was coming this afternoon.”