Write it Down

Part II in educating yourself is the second "R", writing. When you write things down you are more likely to remember them and less likely to forget to do something you meant to take care of.

It helps to have a daily planner where you can remind yourself each day what you need to get done. I sit down on the first of every month and write down what bills need to be paid on which days. This way I don't miss any payments or pay any late fees.

Keep a manual checkbook register. Even though you are doing your banking online you still need to write your transactions down. When you check your balance online it does not necessarily reflect all your transactions. For example, if you write a check it is not going to go through for several days. When you look at your account online you show a $1,200.00 balance. That does not mean you have $1,200.00 available. The mortgage check you dropped off at the bank still has not cleared and you actually have about $150.00 left. If you referred to your manual account balance you would know this.

I had a terrible time with a customer who relied solely on his online account balance to determine whether or not he could pay me. Always wanting to protect the innocent (or guilty) I'll just call him Karl. Karl constantly had checks out there that he did not remember writing or just didn't care that he had written. He had several employees with access to his debit card and would take cash out at random times. Karl bounced a lot of checks with a lot of people. After it happened to me twice I began cashing the checks at his bank so they would know if there was money in the account or not at the time of cashing them. I got to know the tellers on a first name basis because I had to make several return visits with the same check.
When Karl filed for bankruptcy he only owed me $500. I was one of the lucky ones!

Write down grocery items that you'll soon need and other errand tasks so you can do them all at once.

Write out lists of goals you wish to achieve. As you accomplish each task check it off. Maybe you're saving toward a new car. Write it down and put it on the refrigerator as a constant reminder...

Savings Tip: Today's tip comes from Cyana in NC, www.BrilesFarm.com . "I find that when I meet my friends at a big book store, I'll always buy a mocha latte and maybe a book or a magazine. If I meet my friends at a mall I'll find something I think need. I find it healthier all the way around to meet friends at a park or a hiking trail and take our dogs. I also rely on 'lists' to consolidate and keep myself focused when I do need to go shopping."