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O R G A N I Z AT I O N
BY ALEXANDRA KAY
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Take these simple steps to organize your finances, your home and your life
“Time is money,” according to the old adage. So it might be surprising to hear that most of us waste 55 minutes a day searching for things such as car keys and wallets. Although lost hours are frustrating, disorganization may also translate into lost dollars. Late fees on misplaced bills increase your expenses, as can the black marks on your credit rating. Even if the growing disorder seems overwhelming, following a few simple organizational guidelines can eliminate a lot of frustration and save you time—and money.
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Financial Efficiency
Did you know that 23% of Americans pay late fees on their bills because they can’t nd them? For Je Lyman, an engineer in Croton-on-Hudson, New York, fees were costing him $25 to $50 a month. “At least one of my three credit-card payments was late every month,” says Lyman. “I was pretty disorganized with the bills, and I wouldn’t get around to checking when they were due.” But after he got married last year, Je ’s wife, Angel, wasn’t willing to put up with late fees. Instead, she decided on a new approach: Pay all of their bills online. “Who wants to take the time to ll out envelopes and get stamps and mail the bills?” asks Angel. “Now it takes me just a few minutes twice a month to get everything paid.”
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PHOTOGRAPH BY LISA M. ROBINSON/PHOTONICA/GETTY IMAGES
O R G A N I Z AT I O N
to tell you it is available.You can print statements as needed, and you are further protecting yourself from identity theft by avoiding mailed statements and canceled checks. Don’t forget about direct deposit, either. With Key’s direct deposit service, regular deposits such as payroll or Social Security payments can be made into your Key account electronically. Access your funds quickly and avoid another trip to your branch. Organizing your nances should also make it easier to put aside savings on a regular basis. “We are all creatures of habit, and if we don’t do something routinely, we tend not to do it at all,” says Ric Edelman, author of The Lies About Money. “So the only way to ensure that you save is to save regularly.” Have money transferred once a month to your savings account, which is simple and secure with Online Banking. An automatic deposit means one less errand to t in between carpooling and trips to the supermarket.
Paying bills online not only helps to avoid those late charges but also saves you time and money. Getting started with Key Bill Pay, Key’s online bill pay service, is easy. After enrolling in Online Banking, simply select P B from the A T tab, select your payee and enter the account number. You retain complete control: Pay bills as they arrive, or schedule future-dated or recurring payments. Payment history is easily accessible, and there are no more checks to write or stamps to buy. Paying bills is just one bene t of banking online.With Online Banking, you can access all of your Key accounts at any time. You can also receive e-mail alerts when select account activity occurs, view canceled checks online and even manage your budget with reports, charts and graphs. Additionally, you can register to receive a Key online statement, which is an electronic version of your paper statement. Instead of waiting for a monthly statement to be mailed, you can review the document online as soon as Key sends you an e-mail
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Home Improvement
Once you’ve simpli ed your nancial life, move on to home organization. Make sure that each household item has its own place, which will prevent large piles from appearing. Likewise, stop paperwork buildup by sorting mail as soon as it arrives. Technology can also help.With a scanner, all of those paper les taking up space can be stored in your computer. Before scanning, though, make sure you’re keeping only necessary documents. Barry Izsak, professional organizer and former president of the National Association of Professional Organizers, recommends asking several questions when deciding what to keep. First, is it current enough to be relevant and useful? Second, can you easily obtain another copy? Third, are there tax or legal reasons for keeping it? And fourth, what is the worst thing that will happen if you toss it? If you can live with your answer, discard or recycle it. Now you’re ready to scan and save materials electronically. “You don’t have to waste time scanning every piece of paper you’re currently storing,” says professional organizer Debbie Stanley, author of Organize Your Personal Finances in No Time. “Just start scanning select materials today, and as your paper les get outdated you won’t need many of them anymore. But don’t forget to back up your les and save them in more than one place.” Once you’ve tamed the clutter in your home and arranged your nances, your to-do list will seem more manageable. And with income regularly going into your savings account, you’ll feel more con dent about your nances. Ultimately, that organization will lead to saved time and, even better, saved money.
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Online Banking
View your bank accounts, transfer funds and pay bills from home with Key’s secure Online Banking platform. To learn more, call 1.888.KEY.1234 or visit Key.com.
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