Tips & Tricks by CEBUD
The very first step towards healthy financial behavior is to organize your administration. This includes all the invoices you receive, contracts you have signed, guarantee certificates and important documents such as tax certificates or pay slips.
Why? That’s why!
Knowing where you keep everything and how to quickly find the right document saves you unnecessary headaches. You won’t waste any more time searching for that one pin code or that contact address, and you’ll have an overview of all running contracts and subscriptions. That arrangement also teaches you a first time on what you’re spending money on. Combined with the budget overview Cake creates, it gives you the tools you need to handle your money consciously.
Step 1: start sorting
First you decide how you want to organize your administration: on paper, digitally or do you prefer the best of both worlds? Then arrange all your documents per theme in such a way that it makes sense for you: housing, energy, telecom, mobility, health, taxes, debts, purchases and guarantee certificates, … In a digital administration, you create a separate digital folder for each theme. In a paper administration, you keep each theme in a separate binder or you sort the themes into one binder with interleaves. Then make a distinction in each theme between invoices and important documents (contracts, letters, PIN codes, …). The important documents are stored together. Then arrange all invoices of the same theme chronologically and make sure that the most recent one is at the front. If you keep a digital administration, you can use the file name to sort conveniently. As soon as you have a good arrangement, make a habit of updating your administration every week.
Step 2: for the money-addicts
Did you already link all your bank accounts to Cake? Great, because then you can go right on with this second step. You haven’t done that yet? Then it’s handy to do so: this way you have an overview of all your financial transactions in one single app.
When your arrangement is complete, compare the transactions in your Cake app with your administration. Are there any expenses for which you don’t find any documents in your administration? Then identify the expenses for which you should have documents. If you order clothes or shoes online, it doesn’t matter, but you need to keep your fire insurance contract or smartphone warranty card. So look for the right documents and add them in the right place in your administration. Can’t find the papers anywhere? Ask the seller if you can get a copy.
Step 3: filter your big expenses
Browse through your invoices and create an overview of all the higher-value payments you make. Write down in a schedule where you pay 100 euros or more, and how often you spend it. Is it monthly, quarterly or six-monthly, annually or once-only? This way you’ll discover what your major expenses are. In our next blog articles we’ll help you get started on this.
Guidelines for a successful administration
Decide whether you go for digital, on paper or a combination.
Give your spending categories the same name in Cake and your administration. That’s even more convenient.
Make sure you have sufficient subdivisions or (digital) folders.
Don’t neglect your invoices for too long. If you pay them, it’s best to sort them immediately.
Write your payment date on each invoice. In case of a discussion you can quickly search your bank statements or Cake for an overview of all your accounts together.
Find out here how long you need to keep everything.
Check whether digital archives such as Doccle and Zoomit are handy for you.
In need of a well thought out filing system? Check whether the CEBUD dividing sheets are your lifesaver.
Not in the mood for this tricky job? Follow our step-by-step plan and do it in steps. First collect all your documents. Then divide them into themes. Then sort your documents by theme. And, done! Piece of Cake 😉
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