Getting Started

We've only just got started.

We've only just begun.

Well, I'm left to complete all the things

that we need to getting started.

by No Doubt

I think the biggest fear for those new to getting in touch with their finances, is the whole process of getting started. It's very overwhelming, unsure of what one needs or where to begin. The Keep it Simple philosophy probably works best for the majority of newbies.

Here's what I chose to get myself started. Did I make the right choices? I guess we shall see.

• I bought a rubbermaid storage tub designed for finances and a set of file folders to match. It's a good place to hold my receipts, keep them organized and less frustrating to fight with than the accordian folders. Now the trick is, to use it, use it regularly, and make it a logical system that works for my needs.


• I set up a 'guestimate' budget document on my computer to allocate where the money MUST go and where it should go. Some of the areas were a bit vague such as groceries. I slotted other things in first such as the loan and utilities as those numbers are much more finite. After about three months, say the end of September, I want to be able to make these grey areas more precise.


• I set up a spreadsheet to enter in the final numbers each month for all the categories. I am sure this spreadsheet will be modified and adapted in the coming months as I make it work for me. Come January 2009, it should be where I need it to be.
• I bought a small notepad which I can carry with me and write down every expense, the date, and where I bought it. This will help more at the end of the pay month so I can see exactly where things are going. I am sure I am in for one heck of a surprise when I figure things out.


• I gathered together the few bank statements I have and organized them. Ok I am bad for this. I open them. Sometimes. I take out the cancelled cheques which I know I might need to keep for reference later and I shred the rest and bye bye it goes. I managed to find May 18th and June 19th. That's all I have. sad hey?


• I check my bank account online each day to make sure I keep up with the expense book and to be sure there are no surprises.

That's it to start with. Here goes nothing!!