An economist is someone who didn't have enough personality to become an accountant.

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Money is like manure. If you spread it around it does a lot of good. But if you pile it up in one place it stinks like hell. - Jr Murchison

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How to organise your finance records

How to organise your finance records

How often have you tried to work out whether you have the money to purchase something and not found it easy to calculate a result?  There are a lot of things to think about as your life gets more complicated including your finances. The best way to record all expenses and assets is through a series of calculators. I have included a few at the top of this blog under the free calculators drop down menu. Although these can be very helpful for individual tasks it’s a different situation when you want to put all your finance history in one spot. The ASIC website Moneysmart is an excellent place to start. They provide  a few very useful calculators which I will include links for below. You have to sign up with their website to be able to save any data on the calculators but it is an easy and quick process.

Save your Logins

One of the largest recurring problems in our modern world is the number of passwords we need for our online lives. Another problem can be remembering which password was for which program or device. I have an elderly neighbour who I finally convinced should record all his passwords in a book so he doesn’t have to remember them. The problem for him now though is how to remember which password was for which program. Was this one for iTunes or the login for the computer?

Another useful tip for passwords is to have a part of the password (usually at the beginning) that can be altered for various tasks. For example, if you had a password that included letters and numbers such as – aa1234b56 (please use something more complicated than this example) you can put something as a prefix that changes but is related to whatever the password is for. Say, you bank with Adelaide Bank. Just add a prefix ABaa1234b56 or for iTunes add ITaa1234b56. Make sure you record all these passwords either in some sort of secure notepad that you keep with other important filing or put them on a simple Excel spreadsheet.


You can also Google password managers to obtain a program that controls all your passwords so you don’t have to remember them all.

 Have everything in one spot

It’s important to have everything in one spot so you can quickly get a snapshot of your finances and make decision easier.  After having a good look around I don’t think you can go past the calculators available on the ASIC Moneysmart website. The Net Worth calculator and Budget planner will cover most of the finance items you need to include for your records. The good thing about these calculators is they can be added to. In particular the Net Worth calculator allows you to add an item to the list if the options available are not enough for you. You can then save this for later use.

I hope this has been useful for you and motivated you to become more organised.




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