Hope this helps someone.
Each divider is carefully labeled and the reports we receive are filed with the most recent one on the top of the appropriate section. Also in this notebook (by section) are all the insurance papers and policies along with contact info for each company, a copy of our living wills, a copy of our personal will, funeral and burial instructions, our lawyer's name, address, telephone number, as well as a section with pertinent bank account numbers, safety deposit box numbers and bank name, etc.
This allows me to track where these important papers are, but even more so, every one of our grown children know that the red notebook on the bottom shelf of the library in my office is the place where they will find every scrap of information they need should they be put into a position to have to handle this information on our behalf. This notebook, in existence for five years now, gives me incredible peace of mind.
By Ronsan from Southwest Missouri
I did this by paying out the balance of my house loan with a lump sum from my Super payout and I set up a couple of new bank accounts and linked direct debit payments for all my regular payments such as insurance, council rates, health insurance, phone, and SAVINGS! For payments that couldn't be set up this way I have a separate account and a set amount goes directly into the account to cover the payments.
My fortnightly Superannuation payment goes directly into one account and then gets directly debited into the other accounts. The money that is left in the main account is what I have budgeted for food and petrol for my car and a small amount of spending money. This system works well for me, every $ is accounted for, the majority of my regular accounts are automatically paid and there is money in the other account for the few I have to pay myself.
For the first time in my life I am totally debt free, my accounts are all up to date, and I don't have to worry about not having money to pay them. My savings are regularly increasing because I'm not robbing them to pay bills. I am fortunate that my Super fund is a defined benefit which means I receive the same amount plus CPI increases for the rest of my life so I'm not at the mercy of how my Super fund performs in the stock market.
Retirement was something I was financially dreading but with this system in place I have absolutely no money worries, every payment is covered, even unexpected things like emergency repairs. I have money there if I want to treat myself or others and I am still accumulating savings. I don't go without anything. I didn't think it was possible but it does work. I just started by writing down every single thing I spent money on and my regular accounts and went from there. Retirement is great and even better with no financial worries!
By Beadiebug from Qld, Australia