Fabulous Financials

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This is one of the busiest times of the year in my office and I’m being pulled in a million directions:

• Single Ma, I need you to review this.
• Single Ma, I need you to sign off on this.
• Single Ma, why isn’t the unimportant, low budget project done yet?
• Single Ma, what you’re requesting will cost ~$50M.  I know you’re working under a time constraint and I’m going to use that to my advantage during negotiations.
• Single Ma, I need a status brief in 1 hour on the project you knew nothing about until 10 minutes ago.
• Single Ma, I have to leave early on Tuesday and come in late on Thursday, but I promise the most important project will be complete by noon on Friday per your request.

In addition, this is the second week of school and BabyGirl is getting into the groove of her schedule and activities:

• Cheerleading everyday until 5pm.
• Band every Tues/Thurs until 7pm.
• Band tag day fundraiser – all day.
• Cheerleading competition – all weekend.
• PTSA meeting.
• College night.
• Back to School night.
• Mom, can I spend the night at ‘chic you’ve never met before’’s house?  No?  Well can ‘chic you don’t like’ come over?

*sigh* Where’s the Calgon????

With the hustle and bustle of real life, managing my personal finances is the last thing on my mind.  So here are 3 ways I keep my finances in check when my time is limited:

1 – Payroll Allotment: My salary is direct deposit, as well as my 401k (of course), IRA, rental property and Vanguard saving funds.  The 401k and IRA get a fixed amount every pay period to ensure that I contribute the IRS max by the end of the year.  The rental prop and Vanguard saving funds get a fixed amount that is adjusted periodically, depending on projected income.  These four accounts are my financial priorities and they each get a deposit before ANY bills are paid.  When life is crazy, payroll allotments are heaven sent.  I work, I get paid, my payroll office sends my money where I tell them.  Love it.

2 – Make a Date With Bills: During the weekday, I am no good because when I get home, I rarely have time to check the mail.  Sometimes, BabyGirl checks it and throws everything on the counter.  Monday through Friday, I watch the pile grow.  Unless I’m expecting something, Saturday morning is my day to sort through the rubbish and create three piles: trash, shred, and read.  BabyGirl handles the first two and I sort through the last one.  If there is a bill, I immediately schedule the payment via online bill pay for the exact day it is due.  If the date falls on Sat or Sun, I schedule the payment for one business day in advance.  Although the money sits in my account until the payment is made, I deduct the amount from my spreadsheet and highlight the text in blue.  Each Saturday, I rinse and repeat.  When the bill is paid/money is deducted, I remove the blue color from the text.  All of this requires about one hour of undivided attention.

3 – Create Lists: As crazy as this may sound, lists help me to avoid frivolous/impulse spending because they remind me of my priorities and limit idle time.  When I plan my day by a list, I don’t have an opportunity to browse or think about things I’d like to buy.  Instead, my focus is to get in and get out – or get it done – as quickly as possible.  In fact, when I’m really busy, I become a list junky.  I need a list for everything!  Grocery list, personal to do list, work to do list, BabyGirl activity list, appointment list, financial goals list, etc.  I make a list and stick to it as if my life depended on it!  If it isn’t on the list, it doesn’t get purchased.  If it isn’t on the list, it doesn’t get done.  Unfortunately, blogging didn’t make the list this week. LOL

These strategies are simple and easy to apply.  If you’re like me, a busy mom with a demanding career, anything that helps to keep your affairs in order is worth a shot.  I just gave you three.  Try ‘em out and tell me if they work for you.