Larry harvey

Why Should You Create a Financially Organized Life?

December 26, 2014

Financial organization is the cornerstone of a healthy financial life. Financial organization saves time and money because it aids in paying bills on time, being able to find needed documents during tax season, providing proof of payment, disputing credit cards or billing errors and avoiding the stress of dealing with piles of unorganized bills and paperwork. It also sets the stage for better financial decisions surrounding investments, budgeting, debt and investment planning. And, that system needs to evolve over times as your financial situation in life grows.

“As you get more successful in life, your financial life tends to get more complicated and in depth. Being organized creates the framework and a strong foundation for your financial life to ensure you are getting the most out of your money. We have seen new clients join us that had old habits that were wasting money on fees and taxes when it could have been avoided,” said Larry Harvey, ChFC and Founder of HFG Wealth Management, LLC. “I have often found what used to be done to manage money and finances is not as effective anymore as it once was when a financial picture was less complicated,” said Harvey.

Beyond organizing the paperwork properly, I also suggest deciding what family members need to know and sharing with them where you are financially, and how that is in line with your goals. For couples, clearly establishing responsibilities for financial matters is an important priority. Here are some additional best practice questions that I suggest keeping in mind as you restart for the New Year. (more…)