Tuesday, September 8, 2015

Home Management Binder—Financial Information

The last section of my Home Management Binder is a place for storing general information about home finances.  This is not the budget section.  This is the place where I store information for my husband, so if something were to happen to me, he would know how to pick up where I left off.

On the first page, I list how I pay bills—which bills are paid automatically on a credit card, which bills are paid automatically right out of the checking account, and which things (very few) are paid by check.

The next page lists our accounts and what they're for.  For example, we have a checking account, a savings account, and a credit union account.  We have different reasons for using each one and I list those here.  I also give him information about our Mortgage Company.

The next page is about credit cards.  We have several, but we only use one at a time.  So, I list the purpose of each card (because we only use cards that give something back).  One of the cards is used when we are planning a trip to Disneyland and it gives us points to help pay for that.  One card gives us points toward vacations in general (hotels, flights, cruises).  Another gives us points for gift cards.  I explain each one of those on this page.

Lastly, I list all of our accounts (banks, utility companies, cell phone company, etc.) and the passwords for those accounts.  These I keep in a different place, but I provide him with a hint for where they are so he can find them.  (I don't feel comfortable having this stuff in the same place in case someone got a hold of the binder.)

I think this is an EXTREMELY important thing to do, so your loved ones can have one less thing to worry about in the event that something were to happen to you or the one who handles the finances in your family.

I hope this was a helpful series and please watch the video below for more detail.

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